Crypto companies often use social media platforms to share news and updates with interested parties and investors.
Communities naturally start to form as like-minded individuals follow the same accounts and post about similar topics.
There are now platforms out there that measure activity across social media websites as a means to provide insight into trending coins and crypto news.
In this article, we have looked at the top mentioned coins of the past 30 days and compared them to each coin’s market capitalization.
Note: Bitcoin and Ethereum have been excluded from the chart due to their extremely large market cap. compared to the rest of the coins but have been included in the list below.
Data is accurate as of February 25, 2022.
10. Polygon (MATIC)
Mentions: 574,000
Market Capitalization: 10,104,977,138
9. Rarible (RARI)
Mentions: 725,000
Market Capitalization: 40,254,124
8. SafeMoon (SAFEMOON)
Mentions: 868,000
Market Capitalization: 665,022,926
7. Cardano (ADA)
Mentions: 927,000
Market Capitalization: 27,674,256,502
6. Dogecoin (DOGE)
Mentions: 1,510,000
Market Capitalization: 16,488,093,887
5. PancakeSwap (CAKE)
Mentions: 1,620,000
Market Capitalization: 1,744,128,029
4. Tezos (XTZ)
Mentions: 1,940,000
Market Capitalization: 2,731,718,752
3. Shiba Inu (SHIB)
Mentions: 1,950,000
Market Capitalization: 13,207,343,165
2. Ethereum (ETH)
Mentions: 3,900,000
Market Capitalization: 320,303,799,492
1. Bitcoin (BTC)
Mentions: 14,830,000
Market Capitalization: 737,314,438,058
Take Away
In our research, we found that Bitcoin and Ethereum were the most popular coins on social media, ranking in first and second place respectively in both social media mentions and market capitalization.
However, as we moved further down the list, the correlation between social media mentions and market cap weakened.
For example, despite having more than twice the market capitalization of Shiba Inu, Cardano was mentioned less than half as many times on social media.
Furthermore, Rarible received more mentions than Polygon, despite having just a fraction of its market capitalization.
Rarible's prevalence may be indicative of the growing popularity of NFTs, given that it provides a marketplace for digital works to be bought and sold.
