Amid a steep price decline, attention is turning to whether a massive surge in social media activity for PIRATE can translate into improved market performance.

PIRATE's price continues to fall

The price of PIRATE dropped by

↘11%

in the last 24 hours, continuing a trend of underperformance against its category average, which saw a smaller decline of

↘0.27%

. This occurred as the asset’s daily trading volume also fell by

↘9%

, in contrast to a competitor like ENS which saw volume grow

↗21%

.

Social media activity surges despite price drop

Despite its poor market performance, PIRATE saw a

↗2852%

explosion in social media activity over the past week, with community sentiment remaining strongly positive at

76%

. However, this activity is accompanied by a high spam rate of

35%

, indicating a potential disconnect between the social buzz and the asset's price action.