2.3 Q1: Exploring frequency of posts
[🔗Github Link]
2.3.1. How has the volume of discussion of Dogecoin on reddits changed over the time?
Let’s take a look at which month get the most discussion of dogecoin in the summary table below.
| year-month | Doge-coin Proportion |
|---|---|
| 2022-01 | 88.7% |
| 2022-02 | 86.4% |
| 2022-03 | 76.1% |
| 2022-04 | 86.3% |
| 2022-05 | 83.2% |
| 2022-06 | 92.8% |
| 2022-07 | 78.1% |
| 2022-08 | 77.8% |
| 2022-09 | 74.6% |
| 2022-10 | 77.6% |
| 2022-11 | 77.7% |
| 2022-12 | 79.8% |
| 2023-01 | 75.1% |
2.3.2 Is it highly related to dogecoin price?
In the plot below, we show the trend of submission counts in r/Dogecoin and doge related post in r/Cryptocurrecy during this time period.
We found that the discussion volume is highly related to the Dogecoin price. The discussion about Dogecoin peak at the Jan 2022 when the Dogecoin price is high and instntly decline when there is a bear market. On May 2022, when the Dogecoin experienced a plunge, the discussion still remain a medium volume, we believe it is because people still have a confidence in Dogecoin and expected a bounce back and potential profit opportunity with it. While in Jun 2022, even the price go up a little bit, the discussion volume greatly declined since the bounce back is not strong as expected.
2.3.3 Is there a difference in different subreddits?
The plot shoes the difference between r/Cryptocurrency and r/Dogecoin. First we find that most discussion about Dogecoin are inr/Dogecoin but not the r/Cryptocurrency. This is probably because in bull market. Compared to Dogecoin, mainstream crypto like bitcoin and etherum are more attractive to common crypto investors, while only Dogecoin fanatics will persist on Dogecoin when other coins are also good invest option.
Another interesting finding is that in Jun 2022, when the Dogecoin price bounce back there is a decreasement in r/Dogecoin discussion while the see a resume of talking in r/Cryptocurrency. Probably because the bounce back is not as strong as Dogecoin community expected while investors not keep following Dogecoin after its plunge would see this as an opportunity.
