Interestingly, the social volume of an unusual altcoin has experienced a sudden increase, according to data provided by cryptocurrency analysis company Santiment.
According to Santiment, in the last 24 hours, Dogelon Mars (ELON), a memecoin, has seen an increase in its social volume, surpassing even Bitcoin. Analyzing the mention rates of the token on social media networks, Santiment found that the posts in question consisted of 62% positive, 19% neutral and 18% negative statements.
ELON, a memecoin created at the peak of Dogecoin and Shiba Inu popularity, is trying to attract Elon Musk's attention, but it is not very successful in this regard. Although the recent increase in social volume follows a nearly 5% increase in the last week, the token is trading 99.59% below its all-time high price level.
Santiment said the token has also seen spikes in network growth recently, meaning new addresses are being created at an increasing rate.
According to Santiment data, other cryptocurrencies with high social volume are listed as follows.
*This is not investment advice.