R/Dogecoin was the third-most busy crypto group on Reddit behind r/CryptoCurrency and r/Bitcoin this week.
Despite Dogecoin under-performing last week when compared to other leading crypto assets, DOGE’s community has been one of the most active on Reddit.
According to information compiled by Skew and tweeted by Messari researcher Mira Christanto, r/dogecoin has been the third-most busy crypto set on Reddit this week, with 33,822 new comments posted in seven days.
Dogecoin is your second-most active group coalescing around a single crypto advantage, standing behind r/Bitcoin’s 48,757 remarks last week. Unsurprisingly, the wide-ranging r/CryptoCurrency attracted the most involvement of any crypto group on Reddit, together with almost 219,000 comments posted this past week.
Following DOGE, Cardano was the next-most occupied with 15,735 comments, followed by Bitcoin Cash with 9,356. But between these subreddits r/EthTrader and r/ethereum represented nearly 10,200 remarks united.
Despite surging social activity surrounding DOGE, Dogecoin network use is down compared to Bitcoin. It processed almost 49,000 transactions over the past 24 hours, whilst Bitcoin processed 344,000 and Ethereum executed 1.37 million.
In price terms DOGE has under performed each of those 16 non-stablecoin assets rated above it by market cap within the past seven days, gaining just 6 percent while most leading assets have gained between 10 percent and 25%.
Social sentiment can be an inconsistent indicator of market activity, with crypto data aggregator Santiment reporting which Etherum opinion on Twitter had dropped to its lowest level for 2021 since Ether reclaimed the $1,800 range on March 31.
Santiment noted the crypto crowd was”in disbelief” regarding Ether’s gains, asserting the”extreme degree of audience skepticism is bullish for crypto.” Ether has since rallied into the mid 1,900 range and is presently trading within 5 percent of its own all-time highs.
