Published Paper Details:

This paper explores the impact of social media on the price volatility of memecoins, a subset of cryptocurrencies known for their viral, community-driven appeal rather than fundamental utility. While previous research has primarily focused on Dogecoin and celebrity endorsements, this study expands the scope by analyzing lesser-known memecoins such as $MOTHER, $TRUMP, Keikus Maximus, and Shiba Inu. This study compares historical price data from websites like CoinGecko and Investing.com with tweets from well-known individuals like Elon Musk, Donald Trump, and Iggy Azalea. Before and after particular posts, the price movements of memecoins such $MOTHER, $TRUMP, Keikus Maximus, and Shiba Inu were monitored, and percentage changes were computed to evaluate the short-term volatility caused by social media activity. Findings reveal a strong correlation between influencer-driven social media activity and short-term price spikes, with Elon Musk emerging as the most impactful individual. The study also highlights the role of online communities and meme culture in creating price volatility through organic, collective action, independent of direct celebrity promotion. These insights underscore the speculative nature of memecoin markets and the power of digital influence in shaping financial behavior.