Although Dogecoin performed poorly compared to other leading crypto assets last week, the DOGE community was one of the most active on Reddit.
R / dogecoin was the third most active cryptocurrency group on Reddit this week, with 33,822 new comments posted in seven days, according to data collected by Skew and tweeted by Messari researcher Mera Kristanto.
Dogecoin is the second most active group rallying around a single cryptocurrency asset after 48,757 comments from r / Bitcoin last week. Not surprisingly, massive r / CryptoCurrency has received the most attention from any crypto group on Reddit, with around 219,000 comments posted in the last week.
After DOGE, Cardano was next in activity with 15,735 comments, followed by Bitcoin Cash with 9,356 comments. However, about 10,200 comments were received for r / EthTrader and r / ethereum subreddits combined.
Despite the increase in social activity around DOGE, the use of the Dogecoin network has decreased compared to Bitcoin. It has processed almost 49,000 transactions in the last 24 hours, while Bitcoin has processed 344,000 and Ethereum has processed 1.37 million.
On the price side, DOGE has been behind 16 unreliable assets above market values in the last seven days, and has received only 6%, while most major assets have received between 10% and 25%.
Social sentiment may be an inconsistent indicator of market movement, as crypto data aggregator Santiment reports that Etherum’s Twitter sentiment has fallen to its lowest level in 2021 when Ether returned to the $ 1800 series on March 31.
Sentiment pointed out that the cryptocurrency public “had not heard” Ether’s profits, emphasizing that “the extreme level of quantity skepticism is historically optimistic for cryptocurrencies.” Ether has since climbed to the middle of the $ 1,900 range and is currently trading within 5% of the highest time.