Ether’s ‘extreme euphoria’ on social media could trigger a price plunge
Ether’s recent surge in social media dominance signals a potential risk of a price correction, according to Santiment.
Ether’s recent price rally may be due for a cooldown, as a surge in social media mentions — reaching levels of “extreme euphoria” — points to the potential for a near term correction, according to sentiment platform Santiment.
However, other indicators suggest Ether’s (ETH) rally may still have room to run, which has gained more than 50% over the past 30 days.
“Social metrics are flashing warning signs. Since early May, Ethereum’s price ratio against Bitcoin has surged by an incredible 70%,” Santiment said in a report on Friday.
