The crypto market has seen a plunge today, and it would appear that social media users have reacted by calling to buy this “dip.”
Coins Across The Crypto Sector Are In The Red Today
According to data from the on-chain analytics firm Santiment, social media mentions of “buy the dip” have gone up following the latest tumble that the crypto market has experienced.
The relevant indicator here is the “social volume,” which keeps track of the number of unique posts/threads/messages on the various social media platforms that mention a specific topic.
The metric counts the posts themselves instead of the mentions because this method provides a more accurate representation of the behavior among social media users as a whole.
Consider two scenarios: one where a large number of mentions are happening over a few posts and another where mentions are also taking place but are spread out over a large number of posts.
In the first, discussion is limited to a specific group of users, but go
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