Bullish Sentiment Has Been Driving These Coins... Downward
📊 This pictured chart is not showing the prices of these coins. Instead, it illustrates the ratio of positive vs. negative sentiment (and volume of conversatio
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📊 This pictured chart is not showing the prices of these coins. Instead, it illustrates the ratio of positive vs. negative sentiment (and volume of conversations) toward DOGE, GIGA across social media.
These are among the best performing coins in crypto the past couple weeks, and naturally attracted lots of FOMO & bullish sentiment as each coin pumped. Once the bullish sentiment got high, each asset corrected one by one.
This phenomenon is not exclusive to memecoins, either. Prices typically always go the opposite direction of the crowd's expectations, and when the crowd gets extreme on either the bullish or bearish end, it becomes highly predictable to buy or sell.
Use this template to check in on how any of the 3,000+ coins Santiment tracks look, according to the ratio of bullish vs. bearish comments across social media.
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