It does in various ways. People now a days are social media addict. They prefer to keep themselves updated with people and the world through the social media. So social media helps crypto currencies to expose themselves to those people. Now this has both negative and positive affect. Most of the people blindly believe whatever they read on the social media. Thus, they might also end up getting the wrong information/impression about crypto currencies.
Not sure how cryptocurrency can affect Social Media. They are whole different things.