On Tuesday, a new record high of just over $117 was reached by silver prices following a steady ascent. However, it is warned by some analysts that the precious metal may be approaching a price top.
Social media chatter regarding silver and gold has exceeded cryptocurrency discussions on most days this month, as retail investors have been captivated by the recent surge in precious metal prices. According to the market intelligence platform Santiment, this shift in digital conversation highlights a broader pivot from virtual assets toward traditional hard commodities.
A surge in gold discussion erupted during the second week of January as the metal achieved record-breaking valuations. According to Sanbase data shared in a Tuesday X post from Santiment, social traffic was dominated by these conversations between Jan. 8 and Jan. 18.
Interest in crypto was observed to return briefly during the third week of January as traders attempted to “buy the dip” on the way down. According to social media data, cryptocurrency topped market discussions between Jan. 19 and Jan. 22, momentarily displacing the dominance of precious metals.
A fresh spike in silver interest has been observed following the precious metal’s climb to new all-time highs, according to Santiment. It is also noted by the platform that silver dominated social media discussions as the most-talked-about asset between Jan. 1 and Jan. 6.
“Cryptocurrency traders are well known for jumping between different sectors within digital assets based on the latest & greatest hype cycles, eg, memecoins vs AI vs blue chips, etc,”
Santiment’s analysts said.
“But now, retail is proving to be open to jumping sectors entirely, with social data showing how gold, silver, and even equities are getting more and more interest based on wherever the latest pumps appear,”
they added.
Surging Silver Interest May Signal a Market Top, Santiment Says
On Tuesday, a new record high of just over $117 was achieved by silver prices following a consistent upward trend. According to TradingView, this peak marks a historic milestone for the metal amidst heightened global market volatility.
According to Santiment analysts, the surge in interest and the subsequent fear of missing out (FOMO) among retail traders typically indicate that a price top is imminent. This pattern was exemplified on Tuesday when silver reached a historic peak of over $117.70 before sharply retreating below $102.70 in just two hours as the hype peaked.
“Case in point was today, when silver set records by surging above $117.70 and then falling back down below $102.70 just two hours later after retail hype peaked,”
they said.
As of Wednesday, January 28, 2026, silver is observed to be trading near the $113 mark, maintaining its position within a historic high-value territory. Market data confirms that the metal has stabilized around this level following a period of extreme intraday volatility.
Crypto Searches Pull Ahead on Google Trends
In the meantime, it is indicated by Google Trends that search interest for “crypto” reached a maximum score of 100 on Jan. 21. Over the last seven days, these figures were observed to fluctuate between a low of 61 on Saturday and a secondary peak of 93 on Monday.
Phrases such as “best crypto,” along with “what is crypto” and “crypto price,” were identified among the top five related queries. As of Wednesday, January 28, 2026, a score of 82 is held by this search interest, reflecting a slight moderation from the week’s peak.
In the same period, the highest search interest for Bitcoin (BTC) was recorded on Monday with a score of 100, while its lowest point occurred on Sunday at 58. Included among the top five related queries were phrases like “Bitcoin price” and “Bitcoin USD,” and a score of 86 is currently held by the asset as of Wednesday.
In comparison, a peak in search interest for silver was recorded on Jan. 22 with a score of 100, while its lowest level of 46 occurred on Sunday. Among the top five related queries were phrases such as “silver price” and “silver price today,” and a score of 68 was held by the metal as of Wednesday.
