Crypto analytics platform LunarCrush announced the top 10 cryptocurrencies based on social interactions last week. Interestingly, the popular meme coin Shiba Inu (SHIB) failed to make the list.
Top 10 cryptocurrencies by social interactions
cryptocoin.com As you follow, the prices of the best assets in the crypto market have hardly fluctuated this week. Bitcoin remained stagnant around the $19k threshold, while Ethereum oscillated sideways between $1.2k and $1.3k.
However, the community continued to discuss the possibility of a rebound against the prospect of a prolonged bearish trend. In fact, the expiration of today’s options was also a point of contention. As a result, Bitcoin and Ethereum managed to achieve the highest social engagement this week.
Recently, DOGE, the biggest meme coin, had become irrelevant. But in the last few days, it has managed to garner social attention thanks to Elon Musk. Musk announced on October 12 that his customers will be able to purchase the ‘Burnt Hair’ perfume using Dogecoin. And perhaps that contributed to the refined social sentiment shift this week.
Happy Friday Everyone! Here are the current top 10 coins by social engagements over the past week:
1️⃣ $btc
2️⃣ $eth
3️⃣ $doge
4️⃣ $apt
5️⃣ $sol
6️⃣ $xrp
7️⃣ $ada
8️⃣ $axs
9️⃣ $vlx
🔟 $xtzhttps://t.co/KSsDcH32n0 pic.twitter.com/GbubcaFI6H— LunarCrush (@LunarCrush) October 21, 2022
Aptos ranked fourth on the list. This coin was trending on social platforms even before its official launch. As highlighted in a recent article, the project received a lot of backlash regarding slow TPS processing on social platforms. Alongside this, FUD listings and tokenomics discussions have also been the subject of widespread discussion.
Three other cryptos from the top 10, Solana, XRP and Cardano, managed to make the list. The community is more interested in the investment aspect of Cardano and Solana. However, the situation is slightly different for XRP. NFTs in XRP Ledger and developments in the ongoing lawsuit against the SEC are among Ripple’s topics of conversation. Axie Infinity, Velas and Tezos, who have very high social interactions, also found their place in the list.
Shiba Inu (SHIB) failed to make the list
The Shiba Inu, surprisingly, was unlisted. SHIB Army has always been quite enthusiastic and engaging on social platforms like Twitter. From sharing and approving updates and releases to discussing burn rates and possible price movements, they were mostly on their feet.
As of late, however, the community seems to be starting to feel that things have become redundant within the ecosystem. No doubt there have been regular updates and releases for the Shiba Inu, such as the game ShibaEternity. However, they did not essentially help the asset’s price recovery.
On the other hand, all major projects are being delayed, such as the Shibarium, which the community believes can sustainably increase the price of the Shiba Inu (SHIB). Maybe that’s why they’re losing interest. The Shiba Inu is currently seeing a 6% weekly price drop. Also, social mentions and engagements about Shiba Inu fell 7.7% and 2.8%, respectively.
Source: LunarCrush
