No it doesn't. And America doesn't dominate social media in Europe, except repeated administration scandals, paedofiles and history's largest pedo ring cover-up.
Most Europeans probably know more American politicians than they do their own, and have opinions about every American event.
During US elections it's impossible to talk to anyone without their starting to opine about things they have no control over within a minute.
American culture wars are polarising societies that share nothing with the American one.
The last thing Europe needs is more Americanisation.
True, but that's because of considerable joint effort headed by the likes of Thiel, Musk, Bannon, ...
Every European you meet on social media is necessarily the subset of Europeans who adopted social media. A subset of the population adopting a subset of the stuff doesn't mean adoption in general is as universal as you might assume.
e.g. podcast I was listening to the other day had a German complaining about their bank, after the bank suggested they send a fax.