Data shows social media users are currently not paying much attention to memecoins like Dogecoin (DOGE) as compared to Bitcoin (BTC) and other top caps.
Bitcoin & Other Layer 1 Top Caps Getting All The Investor Focus Right Now
According to data from the analytics firm Santiment, social media users are showing increased focus on the top layer 1 assets as compared to memecoin and other sectors. The indicator of relevance here is the “Social Dominance,” which is based on another metric called the Social Volume.
The Social Volume basically tells us about the amount of discussion that any given topic or term is receiving on the major social media platforms. The indicator makes this measurement by counting up all posts/threads/messages that make at least one mention of the keyword.
The reason that the indicator doesn’t simply count up the mentions themselves is so that just a few posts with a large amount of mentions can’t skew the value by themselves. When the Socia
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