Data analysis: Dogecoin is the most popular among Twitter users, while Ethereum-related negative tweets are the most

Of the five cryptocurrencies studied, Ethereum emerged as the least liked on Twitter, while Dogecoin was the most popular.

These findings come from a new report from TRG Datacenters, which analyzed a full year of tweets from January 2021 to January 2022, involving five of the most popular cryptocurrencies, in an effort to clarify which digital assets are tweeting. The most emotionally aroused people.

According to an analysis of BTC, ADA, DOGE, ETH, and LTC, 29% of all Ethereum-related tweets contained negative sentiment. (Ripple has passionate fans but also very angry detractors, so it was not included in the study, which may make this study less comprehensive.)

Much of the criticism directed at Ethereum has been about its transaction speed compared to other Layer 1 alternatives, as well as its energy costs. Negative sentiment toward Ethereum on Crypto Twitter peaked in late August 2021, when a bug caused a brief fork of Ethereum.

Bitcoin-related negative tweets accounted for 27%, ranking second. Cardano ranked third with 16% of negative related tweets, and LTC ranked fourth, with only 8% of related tweets containing negative sentiment.

The way the report collected data was based on analysis of negative sentiment tweets containing the following phrases and names for each cryptocurrency: “Hate,” “is a scam,” “disappointed with,” “dip in,” “bad,” "lost money with", "loss on".

Dogecoin is the most popular on the social media platform, with only 6% of all tweets about the memecoin containing some form of negative sentiment. This means that 94% of all tweets about DOGE are positive, showing the strength and cohesion of the coin’s community on crypto-twitter.

Dogecoin's popularity is closely tied to the coin's good relationship with the social media platform's new owner, Elon Musk. Musk’s public decision to accept DOGE as payment for Tesla merchandise pushed market sentiment to an all-time high.

Chris Hinkle, chief technology officer at TRG Datacenters, has noticed the differential impact of tweets on crypto asset prices.

“Meme stocks in particular seem to be driven by retail investors. In the case of larger cryptocurrencies like Bitcoin, tweets actually lag price action, implying some degree of institutional skew.”

"[This] means that small caps and cryptocurrencies in general are experiencing a very real phenomenon of price volatility led by retail investors," Hinkle added.

Hinkle went on to explain that Musk's recent acquisition of Twitter could lead to a more retail-driven crypto market, claiming that Musk's new clout could "pave the way for less algorithmic manipulation and usher in a new era of retail investors." .

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