In my very opinion and in addition to personal observations and research lately, as far as cryto currency updates, articles and news continue to command a dominant position on social media news feeds I believe that in the future the relationship and the impact of social media on crypto currency can only keep getting better. Although this impact seems to be vice versa.
Yes, it's true, because I've noticed that as long as the community is discussing cryptocurrency on a social media platform, it grows. The two best cryptocurrency social media platforms on the internet are, of course, Twitter and Telegram. People are very active on Twitter, and I'm pretty sure that some crypto users created accounts solely to keep up with the whales in the crypto market, such as Elon Musk, who recently pumped Doge by tweeting and the reason why the BTC market crashed. Social media platforms are one of the main reasons why some shitcoins are still pumping; if the developers know how to market their shitcoin, it will grow many times over. Sometimes, hidden gems are also being discovered through social media platforms so I think it's a great help for crypto community.
Fun fact:
Jack Dorsey says bitcoin will be a big part of Twitter’s future