Comparing the correlation between DOGE market and social media popularity, have PEPE and WIF peaked?

Original title: "Compared with the relationship between DOGE market and social media popularity, have PEPE and WIF broken the circle (peaked)? 》

Original author: Nan Zhi, Odaily Planet Daily

At the beginning of 2021 , DOGE  set off the earliest wave of "Zoo Quotes" The Meme  craze in the name of DOGE its highest market value once reached 88.79 USD. At that time, DOGE successfully broke through the circle, was widely spread on various social media, and introduced a large number of new people. Investment related currencies.

On May 8th of that year, DOGE reached its highest point of 0.74 USDT. The overly hot market accumulated a large number of leveraged positions,  On May 12, Bitcoin fell by 12.5%, and then the famous 519 crash occurred. Bitcoin's single-day amplitude was 34.8%, and it fell by 14.44%. .

The two rounds of market prices of "the second generation Meme leader" SHIB  occurred at the end of May and October 21 respectively. The two peak times in May and November are also very close, but the circle-breaking effect is not as good as DOGE.

Recently, Meme tokens led by PEPE occupy the exchange growth list, and WIF has also landed on Robinhood and Binance. Does it herald another round of market conditions that will break out of the circle and reach the top of the mountain? Odaily Planet Daily will review social media data and Meme token trends in this article, including DOGE, SHIB, PEPE, and WIF, to explore whether the two are related and foreshadowed.

Break the circle of communication? Not started yet

Let’s start with the domestic social media platforms.

Weibo:In 2021 , a large number of official accounts and individuals announced Web3 industry content on Weibo. A large number of users have migrated to the  X  platform, but content related to Meme coins can still be updated in real time and spread to a certain extent. PEPE The content searched is closely related to cryptocurrency, WIF related content is less, and most of the content is "WiFi" related.

Xiaohongshu: The situation on the platform and Weibo Similarly, PEPE has a very high relevance, butmost of the postings are not recent and the number of likes is not high, indicating that it has not aroused FOMO and widespread attentionfrom users outside the circle. And  WIF  also has scattered related content, with uneven time distribution, most of which are related to the "WiFi" entry.

Immediately: The platform’s Web3 concentration is actual It is not inferior to Weibo and Xiaohongshu, but it is mainly used for formal project publicity and communication among practitioners. Currently PEPE only has a few posts discussing its increase, while WIF no one has mentioned it.

Social media search data review

Review DOGE and SHIB  trends based on "Baidu Index" and "Google Trends". "Baidu Index" is an absolute index, showing the search magnitude within a specific time period. "Google Trends" is an absolute value, with a maximum value of  100 , showing the relative trend within a specific time period.

The price and social media search data of DOGE  are as follows. Google data can be seen. From January to mid-May, the global response to DOGE  The level of concern is similar, while domestic investors pay more attention to the latter two waves of market trends. And it can be clearly seen thatonce there are hot searches that far exceed the average on a certain day, it means that the short-term market has reached a peak.

SHIB  The price and social media search data are as follows. The pattern is similar to  DOGE  extreme hot searches mean the market has peaked. However, it can be seen that the domestic attention is mainly caused by the "zoo market" triggered by DOGE in May. In the second round, domestic attention dropped significantly.

PEPE Price in the past month The social media search data is as follows. Google Trends cannot be queried across months due to official settings. However, after querying on 7 days, the popularity did not change significantly with the end of 2 months. However, fluctuations that deviate significantly from the mean have begun to occur in Chinabut the degree of deviation is not as high as the over 100-fold fluctuations previously achieved by DOGE and SHIB.

WIF near One month's price and social media search data are as follows. There is no obvious change in domestic attention to it. It is worth noting that at 3 month 5 day 18 that is After Binance announced the listing of WIF spot, the popularity began to soar, and there was a deviation similar to PEPE .

Conclusion

To sum up, extreme hot searches for Meme tokens often mean the peak of a market. Currently, both PEPE and WIF are There has been a large deviation, which means that risks have begun to accumulate, but the degree is far less than that of DOGE and SHIB back then. There is no obvious breaking of the circle, or there is still some potential.

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