Has Solana (SOL) peaked?

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Ibis
Aug 17, 2021

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.

SOL
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Ibis
Aug 17, 2021

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