Mood–Trust Divergence and Price Dynamics Across Crypto Assets

Analyzing Mood vs Trust divergences across 23 crypto assets during Jan 2023–Dec 2024.

This report analyses the interaction between two key community-driven signals, the Nodiens Mood Index and the Nodiens Trust Index, across 23 crypto assets from January 2023 to December 2024. By measuring divergence events, where Mood and Trust move in opposite directions, we identify whether assets are more mood-driven (returns tend to follow rising mood and falling trust) or trust-driven (returns tend to follow rising trust and falling mood). The study examines meme tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB), major Layer-1 protocols including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Hedera (HBAR), as well as DeFi and DAO tokens like Maker (MKR) and Aave (AAVE).