Has Solana (SOL) peaked?
Everyone and their mother is talking about SOL's new all-time high push - and that might be a problem.
According to data from 1000+ social channels, SOL-related mentions are the highest they've ever been in the past 48 hours, signaling growing retail euphoria about the coin:
In fact, SOL is the top word in our Social Trends today, gaining more ground on crypto social media than any other narrative in the crypto market:
Unsurprisingly, the average mood of these mentions is now overwhelmingly positive, as Solana's Weighted Social Sentiment already sits at its highest level since March:
According to several backtests of our social metrics, a top 3 placement on our Social Trends + extremely bullish sentiment are both common markers of market euphoria and, by proxy, approaching price tops.
Is SOL due for a short-term correction?
P.S. we also made a watchlist of all coins in the Solana 'ecosystem'. Stay safe out there.