Ether’s ‘extreme euphoria’ social chatter could be a red flag for price

Key Points

1. Santiment warns that Ether's surge in social media mentions indicates 'extreme euphoria,' which often precedes a price correction.

2. Ether's price ratio against Bitcoin has surged by 70% since early May, signaling potential overvaluation and a crowded trade.

3. Despite warning signs, Ether's price is up 51.84% over the past 30 days, and some analysts believe the market hasn't reached 'peak frothiness.'

4. Low social dominance for memecoins contrasts with past market tops, suggesting a true marketwide top may not yet be reached.

5. Large purchases by companies like SharpLink Gaming and Bitmine Immersion Technologies could push Ether to new highs, with Galaxy Digital CEO Michael Novogratz predicting Ether may outperform Bitcoin in the next three to six months.