• PEPE and Bitcoin’s weighted sentiment dropped despite massive price rises.
• Both BTC and HOOK’s market indicators suggested a price correction.

The market witnessed quite some volatility as several cryptos displayed commendable performances over the last seven days. As per a tweet from CoinMarketCap, PEPE, Bitcoin [BTC], and Hooked Protocol [HOOK] were the top three trending coins of the week.

Since these coins were trending, AMBCrypto took a look at their social metrics. 

Our analysis of Santiment’s chart revealed that PEPE’s social volume did rise last week. However, its weighted sentiment dropped sharply, hinting that bearish sentiment around the token increased.

A similar trend was also noted on BTC’s graph. The coin’s social volume spiked on the 28th of February, but its weighted sentiment dropped, signifying more bearish sentiment.

What’s on the price front?

The hike in these coins’ social metrics, because of which they trended on CoinMarketCap, can be attributed to their price actions.

As per the tweet, PEPE’s price surged by more than 144% in the last seven days. At the time of writing, the memecoin was trading at $0.000004393 with a market capitalization of over $1.85 billion.

The coin’s exchange outflow spiked last week, reflecting high buying pr

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Author: Dipayan Mitra

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