Cardano gains unusual social media interest as Ethereum and Dogecoin falter

Santiment announced that Cardano had garnered massive social media interest compared to Ethereum and Dogecoin. The firm also highlighted that Bitcoin led the way in terms of crypto discussions on X, Reddit, Telegram, 4Chan, Bitcointalk, and Farcaster.

A study from the University of Georgia found that about half of social media users surveyed have invested in digital currencies. The report also noted that a user was more likely to invest in cryptocurrencies the more active the user was on social media platforms. The researchers also revealed that only 10% of non-social media users had invested in cryptocurrencies.

Cardano surpasses Ethereum and Dogecoin in social media interest

📊 In terms of cryptocurrency discussions on X, Reddit, Telegram, 4Chan, Bitcointalk, and Farcaster, Bitcoin (in teal) is leading the way as usual. Cardano (in pink) is seeing a massive rise compared to usual, while Ethereum (red) and Dogecoin (orange) are nearly non-existent. pic.twitter.com/9axQya2cFC

— Santiment (@santimentfeed) February 11, 2025

Santiment’s research of social metrics for over 3,800 cryptocurrencies found that Cardano had recently attracted more social media interest than Ethereum and Dogecoin.

The analytic firm said that the crypto community had largely shifted their attention to Bitcoin and other Layer 1 assets like Cardano. Cardano is one of the top Layer 1 assets that were getting 44.2% of discussions among major social media platforms. Santiment acknowledged that memecoins like Dogecoin were being discussed less across social media due to the recent volatility and speculative altcoin price dominance falling behind. 

The market intelligence platform argued that the shift in trader attention from meme coins to Bitcoin and Layer 1 assets was a sign of a more stable and sustainable market environment in 2025. Santiment suggested that it typically signals a phase of excess greed when Layer 1 assets like Cardano dominate discussions. The firm argued that traders will tend to chase rapid and short-term gains without considering long-term viability.

The analytic company also maintained that increased focus on assets like Cardano reflected a more mature and informed approach by the crypto community. The increased discussions on Cardano mirrored the community’s focus on security, innovation, and real-world adoption. 

Santiment also argued that traders often suggested a healthier market cycle when  pivoting back to assets like Cardano with strong utility and established market position. According to the firm, the shift encourages a more balanced crypto space that will reduce the risk of unsustainable price surges and crashes fueled purely by speculative mania.

Discussions push Cardano’s price up while ETH and DOGE struggle behind

Data from Santiment also found that Cardano’s market cap recovered by +11% on a day when most digital assets were retraced. The firm urged the crypto community to continue watching the continued behavior of Cardano whales and sharks.

Data showed wallets that held at least 1M ADA had been consistently accumulating since late November of 2023. The wallets added 1.41B more ADA coins and 2.35% of its entire supply during the 15-month stretch. Cardano’s price has grown by 107% since the whale and shark accumulation cycle began.

Ethereum’s market cap also dropped by 36% since its local high nearly 7 weeks ago. The drop has resulted in a decrease in the amount of ETH tokens in profit since they were first mined. The analytic firm also noted that Ethereum’s ratio of supply in profit was down to 65.5% after being at 97.5% just 2 months ago. 

“The crowd has been notoriously negative toward the #2 market cap as it has underperformed compared to other large caps. With a great deal of FUD and retail traders willingly dumping their tokens, there may be some surprise bounce in store once crypto markets are able to stabilize.” – Santiment.

Ethereum experienced a historic milestone of ~224,410 ETH moving away from exchanges in the 24 hours between February 8th and 9th. According to Santiment, this was the highest net amount of tokens transferred off of known exchange wallets in a single day in 23 months. The firm argued that assets moving away from exchanges signaled confidence among investors, who are content with holding for the long term. The reduced level of available ETH coins to be publicly sold also meant less likelihood of future major selloffs. 

Santiment also noted last week that Dogecoin whale transactions had dried up in a hurry, with $100K+ weekly DOGE whale transactions going from 20.2K to 6.2K. $1M+ weekly DOGE whale transactions also went from 3,490 to 850, which reflected reduced interest in the digital asset compared to meme coin’s Trump pump run-up in early November.

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