Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
The Most Popular Crypto Coins in The Social Networks
Social media has always been an excellent center of marketing for any business. Almost every Fortune 500 company uses or has tried social networking in their business marketing strategies. This includes crypto projects, too. Every new crypto coin or project often has social media pages to attract investors.
However, a select number of crypto coins have proven successful in social media. This guide looks into the five most popular cryptocurrencies on social networks, starting with Bitcoin, the largest crypto.
Bitcoin
There’s no doubt that Bitcoin is the most popular cryptocurrency globally. Being the eldest in the crypto family, Bitcoin has garnered huge followership worldwide, with millions of small and large investors considering investing in Bitcoin. How popular is Bitcoin?
It is common for many people with little to no knowledge of the digital asset world to mention Bitcoin while referring to cryptocurrency. However, according to statistics, it is believed that around 2 billion people have once heard of Bitcoin, and there are over 44 million BTC addresses, with over 1.2M active ones.
There are many google ads and advertisements which are about bitcoin or connected to Bitcoin in some way. On Twitter, Bitcoin is the cryptocurrency-connected account with the highest number of followers, at nearly 5.5 million.
Bitcoin is so common that even hackers and criminals use it to scam people. Remember in 2020 when hackers attacked Twitter and used Bitcoin to scam people?
Dogecoin
Dogecoin is the second most popular crypto asset on the social networking platform. This coin was launched as a meme coin, aiming to gain value advantage of social media presence. However, due to its joke nature, Dogecoin has zero real-world use cases but is widespread.
How popular is Dogecoin in terms of numbers? Compared to all other meme coins, Dogecoin is the most popular meme coin. Dogecoin has over 3.6 million followers on its Twitter page, and the hashtags connected to Dogecoin have been widely used.
One of the main things driving Dogecoin’s popularity is the influence of Elon Musk. Recently, Elon Musk made a series of tweets about Dogecoin, leading to a gain in investor numbers and a sudden surge in the coin’s value.
However, the popularity of Dogecoin currently is due to the recent tanking in price to about 19 cents. Nevertheless, the coin still takes number 2 as the second most popular crypto.
Shiba Inu Coin
Another cryptocurrency that is taking social media by storm is the Shiba coin. Shiba is a meme coin and a token that helps run the Shiba swap. The network was launched in August 2020 but has made excellent advancements.
Like Dogecoin, Shiba’s social media popularity is due to its meme coin nature. There is a lot of pressure caused by Elon Musk, which has driven the Shibu coin to vast adoption and popularity. How popular is Shiba?
The Twitter page connected to the Shiba Inu coin has over 3.6M followers as of the writing date. In addition, there are hashtags like #SHIBARMY, #resistanceisfutile, #ShibaSwap, and ShibaCoin, currently trending on Twitter.
Ethereum
Ethereum should be on the list as the third most popular cryptocurrency in social media currently. Ethereum has been providing excellent services especially connected to the decentralized finance world. The host blockchain allows other projects to launch their services and products by leveraging smart contract capabilities. How popular is Ethereum?
As the second-largest crypto by market cap, Ethereum has been widely used by many globally and is always considered second to Bitcoin. In addition, Ethereum has about 3 million followers on Twitter, the fourth-best number of followers.
Many things are making Ethereum garner popularity in crypto. Foremost, Ethereum has been at the forefront of providing Defi-related services, including hosting, staking, farming, and other NFT-related Dapps.
Another thing that has increased Ethereum’s popularity is the high gas charges. There have been complaints all over social media with hashtags like #gasfees and #gwei going around.
Cardano
Cardano takes the 5th slot, and the truth is that out of all the crypto assets mentioned earlier, Cardano is the only one trending for the right reasons. The Cardano Twitter community is the liveliest in the crypto world.
Cardano takes the 5th spot in the most popular crypto assets because the currency has over 700k Twitter followers on the community page. Another one, called the Cardano foundation, has over 1.3M followers. Social media crypto enthusiasts have recently been putting Cardano over many other platforms for investment opportunities.
What makes Cardano a highly popular asset today? ADA is one of the cryptocurrencies focusing much on introducing real-world use cases. Because of that, millions of investors have been recently interested in the currency. Many are considering Cardano as one of the best prospect investments.
Final Word
After looking into the crypto world, and the most popular crypto assets, it’s pretty clear that the coins mentioned above are the most known in social media today. Bitcoin, for instance, has been the most popular crypto asset in social media for over a decade. However, because of Dogecoin’s number of Twitter followers, this coin has taken the second spot.
Ethereum is also a highly popular crypto asset, and its connection to the Defi world has made it a prevalent currency. Others like Shiba coin and Cardano are well on this list because of their immense acceptance in social media, as shown by the hashtags used.
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