Price: $0.39411 2.2729%
Market Cap: 57.89B 1.7561%
Volume (24h): 8.6B 0.4%
Dominance: 1.7561%
Price: $0.39411 2.2729%
Market Cap: 57.89B 1.7561%
Volume (24h): 8.6B 0.4%
Dominance: 1.7561% 1.7561%
  • Price: $0.39411 2.2729%
  • Market Cap: 57.89B 1.7561%
  • Volume (24h): 8.6B 0.4%
  • Dominance: 1.7561% 1.7561%
  • Price: $0.39411 2.2729%
Home > Information news > DOGE MVRV Hints Undervaluation as SHIB & PEPE Stay Bearish

DOGE MVRV Hints Undervaluation as SHIB & PEPE Stay Bearish

Release: 2024/09/11 16:30 Reading: 422

Original author:CryptoTale

Original source:https://coinmarketcap.com/community/articles/66e151e5d481da0346d9cea1

DOGE MVRV Hints Undervaluation as SHIB & PEPE Stay Bearish

Market Volatility and Metrics for Memecoin Analysis

Memecoins have exhibited substantial price fluctuations, influenced by community hype and sentiments. Recently, the performance of DOGE, SHIB, and PEPE has been highly volatile.

Investors approach these assets with caution due to their significant social following. Potential future value trends can be assessed through indicators such as Market Value to Realized Value (MVRV) ratios and social metrics.

Dogecoin Price and MVRV Analysis

Dogecoin, a prominent memecoin, has experienced significant price movements. At present, it trades at $0.1002, with a 2.80% decline in the past 24 hours.

The 30-day MVRV Ratio stands at 1.682%, indicating a potential undervaluation in the short term. However, the 365-day MVRV Ratio remains at -20.79%, suggesting a more neutral market sentiment over the long term.

Historically, high MVRV ratios have coincided with market peaks and subsequent sell-offs, as observed in late 2023 and early 2024.

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