Doge gets more love on Twitter and Ethereum gets more hate: data analysis – Rayrice Forex News

Doge gets more love on Twitter and Ethereum gets more hate: data analysis

Ethereum also topped Twitter’s the most hated of the five crypto currencies, Mime-Token Dogecoin.

The findings are based on a new report by TRG Datacenters, which analyzed the value of one-year tweets from January 2021 to January 2022, and identified five of the most popular cryptocurrencies on Twitter.

According to the analysis – Bitcoin (BTC), Cardano (ADA), Dogecoin (DOGE), Ethereum (ETH) and Litecoin (LTC) – Ethereum was most negatively associated with 29% of all negative tweets. . (The decision not to include Ripple, who has a lot of hard-working fans but very emotional critics, may make the study less than it should be.)

Much of the criticism of Ethereum concerns its speed as well as its energy costs compared to other Layer 1 options. Ethereum’s biggest negative moment came from Crypto Twitter when Ethereum split into two chains in late August 2021.

Bitcoin is the second most hated thing on Twitter with 27% overall negative rating. Cardano followed the far third with 16% negative association, Litecoin ranked fourth with only 8% of negative tweets.

The report collected data in such a way as to include the following phrases and analyze negative emotions tweets based on the name of each cryptocurrency; “Hate” is a scam, “” Despair “” Despair “,” Bad “,” Loss “at

Dogecoin was very popular on social media, with 6% of all tweets expressing some negative feelings about the popular memecoin. This means that 94% of DOGE tweets have positive content, showing the strength and engagement of the Token community on Crypto Twitter.

Dogecoin’s popularity is closely linked to the new owner of the social media platform Elon Musk’s healthy relationship. Musk’s decision to accept DOGE as a payment for Tesla’s merchandise has raised eyebrows.

Chris Hinkle, chief technology officer at TRG Datacenters, drew attention to the various effects of Twitter on the value of crypto assets.

“Meme shares seem to be dominated by retail investors. In big currencies such as Bitcoin, tweets have slowed inflation, indicating some degree of institutional bias.

”[This] This means that inflation, led by retail investors, is generally experiencing a very real phenomenon.

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Hinkle went on to say that the acquisition of Twitter by Musk could lead to a more retail-led crypto market, with Musk’s new impact perhaps paving the way for a new era of small algorithm fraud and retail investors. ”