Amid weeks-long downtrend, IOTA crowd remains bullish
It’s been a red 24-hour candle for coins across the board, but IOTA’s been hit particularly hard.
The asset is currently minus 4.2% for the day, but that is just the latest leg of a weeks-long downtrend. In fact, IOTA has lost over 9% of its value over the last week, and a massive 18.2% in the past 14 days alone.
Today’s nosedive has sparked a surge in IOTA-related chatter on social media, with over 360 new mentions of the coins recorded by our Social Trends tool over the last 48 hours.
And yet, despite the prolonged drop-off, the project still seems to have the crowd on its side:
Be it shilling or legitimate optimism, much of the recent IOTA sentiment seems to have remained positive, regardless of the price action. In fact, it seems some on reddit and telegram even see today’s market plunge as an opportune time to stock up on some MIOTA:
Even some ‘crypto news sites’ have boarded the MIOTA shill train:
That said, the coin’s price woes aren’t the only reason it’s trending today. IOTA’s cofounder, Dominik Scheiner, recently did an interview with beincrypto, in which it called Tron ‘a copycat’ which lacks ‘any concrete business value that they add apart from pumping the price.‘
As it usually happens, Scheiner’s quote found its way to r/cryptocurrency, where the community debated its merits and value-weighed the two projects:
You can check out the full discussion in the original thread.