Study Shows Dogecoin Investors Among ‘Least Stressed’ In Aftermath Of FTX Disaster
Popular meme coin Dogecoin (DOGE) secured a decent spot in the ranking of top cryptos and the corresponding “stress levels” that affect those who invest in the token.
At the best of circumstances, investing your hard-earned money in a constantly changing market may be difficult. Still, for many individuals, the uncertainty and turbulence of cryptocurrencies don’t really mean anything to them.
Given that real-world events and philanthropic billionaires cause currency values to swing, it is not surprising that investors all over the globe find holding cryptocurrencies worrisome.
For instance, Dogecoin (DOGE) investors are among the least worried in the current market downturn, according to a survey published on November 17 by the crypto education-focused platform Coin Kickoff.
For instance, Dogecoin (DOGE) investors are among the least worried in the current market downturn, according to a survey published on November 17 by the crypto education-focused platform Coin Kickoff.
As of this writing, DOGE is trading at $$0.076361, down 10% in the last seven days, data from Coingecko show.
Dogecoin Investors Upbeat About The Token
To determine where in the bitcoin investment causes the most anxiety, the study took a deep look into geotagged tweets containing the hashtags of the 50 cryptocurrencies with the largest market value.
And in examining the level of stress in the tweets, TensiStrength – a sentiment analysis tool – was utilized to quantitatively assess the emotional content of social media posts.
According to the study, the stress level of Dogecoin holders appears to coincide with the DOGE community’s optimistic view on the token’s price.
The Dogecoin community on CoinMarketCap estimates that on December 31, this year, the price of Dogecoin will be $0.096. At the time of this writing, the meme coin was worth $0.08.
Most Stressful Countries For Crypto
Meanwhile, the survey discovered that the United Arab Emirates is the most stressful country to invest in. Based on the general opinion on social media, around 30% of tweets concerning cryptocurrencies feature an anxious tone.
Dubai, which aspires to be a global innovation centre and the first nation to operate its economy using blockchain, now holds Asia’s largest convention for virtual currency investors.
Rounding up the other list, New Mexico (33.1%), Vermont (30.4%), and Wyoming (29.9%) investors are among the most anxious in the United States regarding their crypto wealth.
Investors in Amsterdam (30.7%) are the most concerned about the performance of their cryptocurrency. Warsaw (29.8%) and Cairo (29.8%) also have notably large percentages of digital currency owner stress.
Owners of FTX Token were most concerned about their bitcoin purchase. Nearly 38% of tweets regarding the token were negative.
Incidentally, FTT corrected by more than 80 percent at one time, with the value possibly plummeting to nothing.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Christian Encila, @Khareem Sudlow