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Down with the #Dogefather: Evidence of a Cryptocurrency Responding in Real Time to a Crypto-Tastemaker
Journal of Theoretical and Applied Electronic Commerce Research ( IF 5.1 ) Pub Date : 2021-09-03 , DOI: 10.3390/jtaer16060123
Michael Cary

Recent research in cryptocurrencies has considered the effects of the behavior of individuals on the price of cryptocurrencies through actions such as social media usage. However, some celebrities have gone as far as affixing their celebrity to a specific cryptocurrency, becoming a crypto-tastemaker. One such example occurred in April 2021 when Elon Musk claimed via Twitter that “SpaceX is going to put a literal Dogecoin on the literal moon”. He later called himself the “Dogefather” as he announced that he would be hosting Saturday Night Live (SNL) on 8 May 2021. By performing sentiment analysis on relevant tweets during the time he was hosting SNL, evidence is found that negative perceptions of Musk’s performance led to a decline in the price of Dogecoin, which dropped 23.4% during the time Musk was on air. This shows that cryptocurrencies are affected in real time by the behaviors of crypto-tastemakers.

中文翻译:

打倒#Dogefather:加密货币实时响应加密品味制造者的证据

最近对加密货币的研究考虑了个人行为通过社交媒体使用等行为对加密货币价格的影响。然而,一些名人甚至将他们的名人贴在特定的加密货币上,成为加密货币的品味制造者。一个这样的例子发生在 2021 年 4 月,当时埃隆马斯克通过 Twitter 声称“SpaceX 将在月球上放置一个真实的狗狗币”。后来他自称“Dogefather”,因为他宣布将于 2021 年 5 月 8 日主持周六夜现场 (SNL)。通过在主持 SNL 期间对相关推文进行情绪分析,发现证据表明对马斯克的负面看法表现导致狗狗币价格下跌,在马斯克直播期间下跌了 23.4%。
更新日期:2021-09-03
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