Doge gets more love on Twitter, while Ethereum gets more hate: data analysis

Of the five cryptocurrencies studied, Ethereum topped the list on Twitter, while the meme coin Dogecoin was the most popular.

The findings come from a new report from TRG Datacenters, which analyzed tweets over a year between January 2021 and January 2022, involving the five most popular cryptocurrencies, to determine which digital assets are on Twitter most exciting.

According to the analysis – it looks at Bitcoin (bitcoin), Cardano (ADA), Dogecoin (Governor), Ethereum (Ethereum) and Litecoin (LTC) — Ethereum has the most negative correlation with 29% of all tweets containing negative sentiment. (Excluding Ripple’s decision, which has ardent fans but also very ardent critics, that may make this study less comprehensive than it should be.)

Most of the criticism against Ethereum is compared to its speed Other Tier 1 Alternatives, and its energy cost.Ethereum’s Negative Sentiment Spikes Come From encrypted twitter happens in a Bug causes Ethereum to briefly split into two chains Late August 2021.

Bitcoin ranks second on Twitter with an overall negative rating of 27%. Cardano came in third with a 16% negative correlation, while Litecoin came in fourth with only 8% of tweets with a negative angle.

The report collects data in such a way that it analyzes negative sentiment tweets based on the phrases that contain the following and the name of each cryptocurrency; “Disappointed, “disappointed”, “in trouble”, “bad”, “lost money for “”. “

Dogecoin is a favorite on the social media platform, with only 6% of tweets about the popular memecoin containing some form of unfavorable sentiment.This means 94% of tweets involve Governor contains a positive tilt, Show strength and cohesion Token community on Crypto Twitter.

Dogecoin’s popularity is closely related to the coin’s healthy relationship with social media Elon Musk, the new owner of the platform. Musk’s decision to publicly accept DOGE as payment for Tesla merchandise pushes market sentiment to an all-time high.

Chris Hinkle, CTO of TRG Datacenters, drew attention to the different types of effects Twitter has had on cryptoasset prices.

“Meme stock in particular appears to be driven by retail investors. For larger currencies like Bitcoin, tweets are actually lagging price action, implying a degree of institutional skew.”

“[This] This means that small caps and tokens in general are experiencing a very real phenomenon of price volatility dominated by retail investors,” Hinkle added.

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Hinkle went on to explain that Musk’s recent acquisition of Twitter could lead to a more retail-driven crypto market, claiming that Musk’s newfound influence could “may pave the way for less algorithmic manipulation and the beginning of a new era for retail investors. “