thecoinrepublic.com
- 1 Cosmos crypto price and volume face a downturn amidst a weak market.
- 2 Cosmos (ATOM) social volumes and social dominance metrics are declining.
The cryptocurrency market is known for its volatility, and Cosmos (ATOM) has been no exception. Recently, the crypto community has witnessed a noticeable decline in both the price and social metrics of ATOM.
Cosmos (ATOM) Social Metrics Declining; Is It A Red Signal?
Cosmos (ATOM) social metrics have shown a significant drop in recent months, showcasing its declining popularity in crypto media and other social media platforms. Additionally, the reason behind the drop in social volume and social dominance is correlated with the prolonged weak performance of the crypto.
The graphs for social dominance and social volume have been declining over the past few months, indicating decreased awareness and engagement on social media platforms like X, Instagram, and Telegram.
On November 26, the social dominance of Cosmos was 2.14% and declined to 0.277% at the time of writing. Moreover, from December 12, Cosmos’ social volume has been stagnant, at press time, it was at 458.
In case, the social dominance and social volume metrics rise then it may impact the Cosmos price positively.
While the decline in social metrics for Cosmos is a red flag, it’s not the end of the road.
To improve its social metrics, Cosmos (ATOM) could consider implementing several strategies aimed at increasing engagement and visibility within the crypto community.
Atom Crypto Price and Volumes Slumps; Will Price Go Further Down
According to the graph of price and volume, the trading volume has dropped from $739.4 Million to $362.17 Million since the beginning of March, and the price has also tanked with the trading volume showcasing the active bears.
The trading volume and price have dropped tremendously in the previous two months showcasing the decline of buying and selling activities in the Cosmos. If the trading volume falls steadily, then it may have a negative impact on the price.
Death Cross On ATOM Technical Chart: Price To Plunge More?
Cosmos (ATOM) price is declining and a death cross between the 50-day and 200-day EMA level is identified on the chart, pointing to bearish momentum.
At press time, Cosmos crypto price was $8.332 with an intraday drop of 1.33%. The cosmos price was down by 32.22% last month, demonstrating bears’ presence in the crypto.
ATOM price is near the demand zone, which is the crucial support level, if the price breaks the level of $6.00, it may see further downside in upcoming sessions.
Conclusion
Cosmos (ATOM) has experienced a decline in price and social metrics. The social dominance and social volume metrics have been declining over the past few months, indicating decreased awareness and engagement on social media platforms.
If the trading volume keeps falling, then it may have a negative impact on the price. However, there are several strategies that Cosmos (ATOM) could consider implementing to improve its social metrics and increase engagement and visibility within the crypto community.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.