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Uniswap and Bitcoin: A tale of FOMO amidst market corrections

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The decline in the Uniswap price came after its social dominance spiked and the significant decline in Bitcoin.

stirred up Fear of Missing Out on the 10th of June, suggesting a potential correction. This correction has already begun, but might not be solely due to FOMO.saw a spike in its social dominance on the 10th of June. The data indicated that UNI was the most notable among assets experiencing an increase on that day.

Although Bitcoin maintained a higher social dominance than UNI, its trend appeared relatively normal. As of this writing, BTC’s social dominance is around 23%, while UNI’s is around 0.5%.daily price showed an increase of 5% on the 10th of June, from around $9.80 to $10.30. However, this gain and more have since been wiped out.The decline has pushed Uniswap into a bear trend. Its Relative Strength Index showed that it is currently below the neutral line.showed that it has declined by 0.

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