IOTA's recent downtrend splits crypto social media

“Someone broke IOTA“

Confusion and FUD as IOTA draws a loong red 24hr candle amid no news or project announcements:

“Sad life for $iota community. Don't know what's going on but IOTA is s#@%ting its pants now.”

The coin’s been trending downward for most of the week, even as the market climbed to a 5-month high, leading some to speculate whale capitulation:

IOTA also experienced a surge in social mentions thanks to its recent price action, as Santiment recorded 180+ mentions of the coin over the last 24hrs.

That said, the crowd sentiment about IOTA seems to be mixed. While some are calling this an opportune time to stack up on the coin:

...others expressed their general disappointment with the project, and explained the downtrend as natural:

“When was $IOTA not broken?”

“It was born broke”

“It was never working”

“It was easy to predict. Iota is a scam almost bigger than neo”

Meanwhile, Dominik Schiener, IOTA's cofounder is scheduled to give a speech during the Paris Blockchain Week Summit, which starts tomorrow. Watch this space.