The Polkadot network has seen a significant decrease in social activity, with a significant decrease in both social volume and weighted sentiment. Despite efforts to increase visibility through a partnership with media agency Eox, Polkadot's overall popularity remains low. Moreover, the price of Polkadot has fallen 27.96% since April 1, showing signs of a falling trend with longest lows and highs constantly dropping. The Chaikin Money Flow (CMF) indicator suggests a possible rise in money flows, but the Relative Strength Index (RSI) indicates a significant decline in bullish momentum. There has also been a decrease in the number of active users and the revenue generated by the network, indicating that the ecosystem is weakening. These factors indicate that Polkadot's recovery is challenging.
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Polkadot faces challenges: social activity and price drops indicate that the ecosystem is in trouble
The Polkadot network has seen a significant decrease in social activity, with a significant decrease in both social volume and weighted sentiment. Despite efforts to increase visibility through a partnership with media agency Eox, Polkadot's overall popularity remains low. Moreover, the price of Polkadot has fallen 27.96% since April 1, showing signs of a falling trend with longest lows and highs constantly dropping. The Chaikin Money Flow (CMF) indicator suggests a possible rise in money flows, but the Relative Strength Index (RSI) indicates a significant decline in bullish momentum. There has also been a decrease in the number of active users and the revenue generated by the network, indicating that the ecosystem is weakening. These factors indicate that Polkadot's recovery is challenging.