Every day we see how the crypto space is growing and expanding further. Similarly, we are witnessing how people become more and more interested in dealing with cryptocurrencies. Moreover, it is not surprising to see how altcoin projects are taking over social media platforms as well. In fact, Social Volume is a pretty important metric that investors should consider before investing. For this, we can take a look at 9 altcoins that are experiencing a social media boom…
What is Social Volume?
To clarify, Social Volume is built on top of Social Data. Simply put, this measures how many times or how many times a cryptocurrency is searched or typed in search engines. This is important because investors can keep track of these metrics as it comes in handy when it comes to investing in cryptocurrencies.
According to LunarCrush, a social indicator for cryptocurrencies, these are the top 10 cryptocurrencies by Social Volume today:
How can the data be interpreted for altcoin projects?
cryptocoin.com According to LunarCrush data we quoted as Bitcoin (BTC), it is already overtaking other cryptocurrencies with a staggering 342,620 volumes. And it’s no surprise to see the Shiba Inu (SHIB) come in second place. The past weeks have seemed to favor SHIB as it has been all over the place in terms of price and volume. However, it is shocking to see it surpasses Ethereum (ETH), which is in third place in the image above. Safemoon (SAFEMOON) competed fiercely with Dogecoin (DOGE) for the 4th and 5th places. Also, Pancakeswap (CAKE), Tezos (XTZ), Moonriver (MOVR), Dogelon Mars (ELON) and Cardano (ADA) completed the top 10 list.
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