When Bitcoin fell 2%, some altcoins secretly went crazy! #山寨币#HYPE#WBT
Analysis company Santiment has its eyes on these currencies that have risen against the market trend, among which Hyperliquid (HYPE) has risen 51.6% in the month, and WhiteBIT Token (WBT) has soared 59.2%.
But can they continue to rise? Social media data may hold the answer.
Two key indicators: The hotter the market, the more dangerous it is?
1. Proportion of social discussion (social dominance)
This metric looks at what percentage of social media discussions about a particular coin are shared among all the top 100 cryptocurrencies.
For example, HYPE’s discussion share reached 1.5% in May. Although it has now dropped to 1.25%, it is still very high - equivalent to 1-2 out of 100 discussions are talking about it.
2. Bullish/Bearish Sentiment Ratio
Through AI analysis of comments, HYPE's sentiment ratio reached 3.75, which means that the bullish comments are almost 4 times the bearish ones! WBT's sentiment ratio is also 3.07, which is also one-sidedly optimistic.
Historical rules: Being too excited may be a sign of peaking!
There is a strange phenomenon in the altcoin circle: the more optimistic people are about a coin, the more likely it is to go against the trend.
For example, although HYPE is still rising, being too optimistic is dangerous - just like it just hit a high last week, but it plummeted to $39 on Monday this week, it is very likely over-hyped.
The situation of WBT is more interesting: its social discussion has suddenly increased recently, but the sentiment ratio has not changed much and is still above 3. Santiment said: "Unless FOMO (panic buying) occurs, WBT may continue to rise after the local high on June 15."
What should ordinary people think?
HYPE: The price may not rise in the short term, sentiment is too optimistic + price correction, be careful of chasing high and getting trapped
WBT: There are more discussions but the mood is not crazy yet. There may be room, but don't bet on it.
Key reminder: The rise and fall of altcoins is closely related to the popularity of social media, but sentiment indicators are only for reference. Don’t buy tickets based on this alone!
There is never a shortage of dark horses in the crypto market, but remember: when everyone is talking about a coin, it may be time to calm down.