Influence of Social Media on Micro Cap Cryptocurrencies
10/5/2024 6:32:05 PM
According to ZachXBT, social media posts can significantly influence the prices of micro cap cryptocurrencies. When influencers post about these smaller market cap coins, their prices can double or more, but once the posts stop, these coins often lose value quickly, experiencing complete market cycles within a week. This pattern suggests a cycle of promotion and decline, highlighting the volatility and speculative nature of micro cap cryptocurrencies. (Source)
ZachXBT market cycles micro cap cryptocurrencies social media influence