Data from the analysis platform BitcoinInfoCharts shows that, despite the surge in meme token activity over the past month, the number of tweets about Bitcoin far exceeds that of Dogecoin.

Bitcoin tweets outnumber Dogecoin

As of May 14th, tweets related to Bitcoin have exceeded 200,000. In contrast, users only posted about 4,800 tweets about the first meme coin, Dogecoin. Interestingly, this trend has remained consistent even with the surge in meme token activity over the past month.

Bitcoin is the first blockchain project and the most valuable cryptocurrency adopted by some governments. As of May 15, the token is trading at over $27,000, dominating the crypto space. It has remained resilient even during the recent crypto winter.

As dominant data shows, despite the rise of meme tokens like Pepe Coin (PEPE) and Dogecoin, Bitcoin is still favored by traders.

For context, after reaching a high of $0.70 during the previous bull market cycle, Dogecoin's price plummeted over 90% throughout 2022, falling to a low of $0.05.

During the last bull market period from April 2021 to May 2021, tweets about Dogecoin outnumbered those about Bitcoin. For example, as of April 16, 2021, there were 3,000 more tweets about Dogecoin than Bitcoin. However, this was the last time that tweets about Dogecoin exceeded those about Bitcoin.

Since then, as DOGE's price also began to plummet in May 2021, the number of tweets about Dogecoin declined. Although the price of Bitcoin reached a peak of over $69,000 in November 2021, it also contracted in the following months, falling to a low of $16,000 at the end of 2022. Still, throughout the bear market of 2022, tweets about Bitcoin outnumbered those about Dogecoin.

Fortunately, the prices of DOGE and BTC have since rebounded from the lows of 2022. DOGE's price has risen 115% from the lows of the second half of 2022 to $0.105 in April 2023. At that time, BTC rebounded from below $16,000 to a high of $31,000.

Tweets Are Not Everything

Typically, the number of tweets about a cryptocurrency project can be used to measure its popularity. The more tweets related to a crypto project, the more likely it is to become a trend, and the greater the likelihood of the crypto community interacting with the platform.

Even so, in most cases, the credibility of these tweets should be questioned due to the abuse of bots. Depending on the popularity of the project, some rogue actors can be paid to spam the platform, thereby increasing the number of tweets.

Therefore, while the number of tweets can serve as a measure of activity, it does not necessarily mean that a project with more tweets has a better development team or uses modern technology than a project with less social media activity.

To address this threat, Twitter has stated that it will combat bots and take appropriate measures to prevent the spread of views on the platform.

Some steps taken include using bot detection tools and integrating artificial intelligence to flag accounts with suspicious activity.