Blog

With every flip of the market, there are all the time cryptocurrencies that make it to the highest because the most-liked cash amongst traders. This time round, a survey that was carried out between January 2021 and January 2022 has proven the favourite cryptocurrencies amongst traders. Surprisingly, the highest cash appear to be probably the most hated on the social media platform, Twitter, whereas meme cash emerge as probably the most beloved cryptocurrencies.

Investors Don’t Like Bitcoin, Ethereum

In the study that was carried out by TRG Datacenters on the favored social media platform Twitter, they discovered that traders weren’t talking positively in regards to the high two cash. By analyzing the tweets mentioning these well-liked cryptocurrencies and the sentiment with which the customers talked about them, they have been in a position to extrapolate which have been probably the most hated cash on the web site.

The second-largest cryptocurrency by market cap, Ethereum, had emerged on the high of the record of probably the most hated cryptocurrencies. According to the research, the digital asset had probably the most tweets with unfavourable sentiments with 29% of all posts about Ethereum on Twitter being unfavourable.

Related Reading | Stablecoin Dominance Grows As Crypto Assets Are Obliterated

Next up was bitcoin which intently adopted behind Ethereum. The coin which is arguably single-handedly liable for the recognition of the crypto market appears to not be profitable the congeniality contest both. It is proven that bitcoin posts have been unfavourable 27% of the time.

Cardano made third place on the record with 16% of all posts being unfavourable. While Litecoin got here out 4th place as probably the most hated cryptocurrency on Twitter with a complete of 8% of all tweets being unfavourable. Last on this 5-number record was Dogecoin with solely 6% of all tweets being unfavourable. However, the record for the most-loved cryptocurrency would see the meme coin emerge victoriously.

Investors Love Dogecoin

Even although Dogecoin had positioned among the many most hated cryptocurrencies, it didn’t take away the truth that traders love the meme coin. This is obvious within the record of most-loved cryptocurrencies that was additionally revealed by TRG Datacenters.

Also holding 5 cash, it’s principally the reverse of the most-hated record. Here, Dogecoin appeared on the high of the record with 94% of all posts on Twitter being optimistic. It is the best of all of the cash surveyed indicating that traders nonetheless consider within the digital asset regardless of the downtrend.

DOGE falls to $0.07 | Source: DOGEUSD on TradingView.com

Litecoin positioned second on the record with 91% of all posts being optimistic. Cardano, Bitcoin, and Ethereum positioned third, 4th, and fifth, with 84%, 73%, and 71% of all tweets being optimistic respectively. 

Related Reading | Bitcoin Bleeds For Sixth Consecutive Weeks, Worst Stretch Since 2014

Commenting on Dogecoin showing because the most-loved cryptocurrency, Chris Hinkle, CTO at TRG Datacenters, mentioned that “Meme stocks, in particular, appeared to be driven by retail investors. In the case of larger currencies such as Bitcoin, tweets have actually lagged price movements, implying some degree of institutional lean.”

Support from notable figures resembling Elon Musk and most lately, rapper Ice Cube has pushed Dogecoin to develop into a favourite of many. Thus, it’s no shock to see the meme coin being billed because the most-loved crypto.

Featured picture from Finbold, chart from TradingView.com