Ether’s price rally may cool down soon, as social media mentions hit “extreme euphoria,” signaling a possible correction. Despite this, Ether has surged over 50% in the past month. Santiment warns of overvaluation when social dominance spikes, indicating a potential price correction.

Ether is currently trading at $3,750, up 51.84% in the last 30 days. Santiment suggests the market may not have reached “peak frothiness” yet, hinting at further potential for Ether’s rally. Memecoins have low social dominance, unlike past market tops characterized by irrational speculation.

Corporate treasury interest in Ether is growing, with major companies making large purchases. Analysts believe this trend could push Ether to new highs. Galaxy Digital CEO Michael Novogratz predicts Ether may outperform Bitcoin in the next few months due to limited supply.

Santiment also warns of a potential pullback for Bitcoin, as nearly half of all crypto-related mentions on social media focused on Bitcoin during its recent surge to new highs. This spike in social dominance may signal a local top and short-term correction. Bitcoin’s market value reached historic levels, leading to increased social dominance.

In other news, Robinhood’s tokenized stocks have sparked legal controversies.

Read more at Cointelegraph: Ether’s Spike In Social Dominance Signals Potential Price Risk