On-chain analysis reveals that Dogecoin (DOGE) has experienced significant losses for 6-month traders, potentially indicating a buying opportunity. The Market Value to Realized Value (MVRV) metric suggests that DOGE may be undervalued. Santiment's Opportunity & Danger Zone Model shows that mid-term investors in DOGE, Toncoin (TON), and Ethereum (ETH) have faced losses. DOGE has the lowest 6-month MVRV value, with traders sitting at 32% losses, suggesting potential undervaluation. Traders typically seek assets where other traders are facing losses. XRP, however, has 6-month traders in profits, making it a potentially less attractive option. DOGE's current price is around $0.0975, down 3% in the last week. Historically, bottoms in asset prices occur when investors are in losses. Overvalued assets with positive MVRV divergences often experience sell-offs. By identifying assets with negative MVRV divergences, traders can potentially identify undervalued opportunities.
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