$ETH "Social metrics are sending warning signals. Since the beginning of May, the ETH to Bitcoin price ratio has surged by 70%. This has led to extreme euphoria and a significant increase in social media dominance — this is often a warning signal," Santiment stated in a report on Friday.
This platform explains that when the social dominance level of a coin rises to an unusual threshold, it often indicates that the asset is overvalued.
"It reflects that the asset is being exaggerated and the trading cash flow becomes too crowded, thereby increasing the risk of a price correction," Santiment commented.
