Monero Surges 51% to New High Amid Rising Social Media Buzz

Monero (XMR) has experienced a sharp rally, reaching a new all-time high of $695, marking a 51% weekly profit.

The rally contrasts with Bitcoin and Ethereum, which saw returns of +1% and -2%, respectively.
Other privacy coins like Zcash (ZEC) have faced declines, with ZEC dropping by 23% in the same period.

XMR's social media presence has surged, with its Social Dominance seeing a significant increase. This measures the proportion of discussions about Monero compared to other top cryptocurrencies.

Increased social media interest often suggests FOMO among traders, which may not sustain rallies long-term.

Despite this, XMR continues to climb, setting new record highs. The sustainability of this trend remains uncertain.