XRP Experiencing Major Sentiment Change Due to Social Media FUDs!
Recent sentiment analysis paints a negative picture for key altcoins, especially XRP, Dogecoin and Shiba Inu.
Data from analytics firm Santiment shows that social volume and sentiment balance metrics provide a comprehensive look at market perspectives.
According to Santiment, the current negative sentiment may indicate a possible bottom for these cryptocurrencies.
Market Sentiment Analysis: FUD on Key Altcoins
New data from analytics firm Santiment reveals that sentiment around XRP, Dogecoin (DOGE), and Shiba Inu (SHIB) has dropped sharply. Santiment uses the “Weighted Sentiment” indicator to measure market mood, this indicator combines Sentiment Balance and Social Volume metrics. While Emotion Balance categorizes social media posts as positive or negative using machine learning, Social Volume counts the number of posts made about an entity.
Understanding Predominant Sensitivity
Weighted Sentiment offers a more nuanced perspective by adjusting Sentiment Balance based on Social Volume. This ensures that the sentiment measurement reflects not only the mood but also the volume of the discussion. For example, a few positive posts may not significantly impact overall sentiment if they are among thousands of discussions.
Recent trends show this sentiment indicator for XRP, Dogecoin, and Shiba Inu diving into negative territory, coinciding with price declines.
