Santiment's Improved Social Trends Tie Up All Your Loose Ends
For many months in the making, many upgrades for Santiment's highly coveted Social Trends page have been released! This dashboard for our community has been available for a while, and you could easily see the top trending topics. But we have recently made the usefulness of them much more accessible, and added several features.
Have you been wondering which specific assets the community has been talking about, but the most trending topics are all about politics or the latest meme that Reddit may be joking about? Well now you can cut through that noise and look directly at the top Trending Tokens to instantly give you some ideas for your portfolio:
Additionally, you can see how each asset lists the positive, neutral, and negative commentary attributed to them, according to Santiment's data scraping algorithm. As we have covered many times in previous studies and insights, markets move in the crowd's least expected direction.
Like any price predictions in crypto markets, nothing is a guarantee. But a general rule of thumb is to avoid being on the side of the crowd majority, especially for a more obscure asset that is usually ignored. But at the same time, we advise you to do your own research on any asset without simply blindly counter trading the crowd. Try to think of a trending asset this way:
- If the asset is seeing heavy social volume overall, it's often related to a pump. More seldomly, it's related to a price drop instead. Every once in a while, it could be due to a partnership, integration, improvement, or something else fundamental. But regardless, the more obscure the asset, the more likely its presence on the top trending list indicates there is ongoing and upcoming unusual volatility you can potentially take advantage of.
- If the asset is trending and getting a very large skew toward positive commentary, be careful. This scenario is very commonly associated with upcoming price tops, particularly if the positive sentiment is related to the project's price soaring. When the crowd suddenly discovers the pump and everyone is talking about it, this is typically right around the time that the pump is ending and on the cusp of reversing.
- If the asset is trending and getting a very large skew toward negative commentary, there can be an opportunity. This being said, for this particular scenario, research on the asset is advised. Heavy negative sentiment often pops up for reasons beyond just a price dump. If it is related to the project's developers vacating, or an associated scam that can permanently impact its reputation, then this certainly is less than ideal.
And as we can see above, we have an AI summary for every single asset (also included on the Trending Tokens page), which our learning AI bot is able to scrape information on and identify the context of the asset's latest and biggest conversation. This makes it significantly easier to get a quick understanding of why the asset is trending.
You'll see Connected Words associated with each asset. These are the neighboring words that are typically being used commonly with that particular asset, and this extra context can be dramatically helpful to get to the root of why it has drawn so much attention.
If you're a bit more of a mid or long-term trader or investor, you may quickly fall in love with the usefulness of our Mid-Term Trends page. This dashboard is full of commonly discussed topics that you may have seen for weeks or months as ongoing conversations that the crypto community is interested in.
You can also get comparative information from looking at the 9 trending mid-term topics on this convenient grid, as you can see above. Check out 'Bull Market' vs. 'Bear Market' in the bottom right in the example image, and you can quickly tell when the crowd is leaning far too much in one direction. This usually results in the price moving in the opposite direction shortly afterward.
And as you may have already seen for the past few months, we still have our improved Hourly Trends list to give you an easy glimpse at the overall topics driving crypto. Keywords will show up here regardless of whether they are assets, exchanges, or even something non-crypto related. The key is that they are the subjects that traders on crypto-related forums are talking about.
This can still come in handy, as we have seen many times over the previous few years how a topic like 'Ukraine' or "COVID-19" can have dramatic impacts on the markets. And if you're one of the first to know about it, there can be some very profitable and advantageous positions you can put yourself in.
Stay tuned as we roll out even more updates in the near future, such as our Alpha Narratives tab, which you can sign up for early access on now. And let us know what you think about all the improvements in the comments section of this article. Your thoughts help us provide the best possible experience, and it's one form of crowd sentiment we definitely value!
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
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