Dogecoin Among Altcoins Seeing Deepest Trader Losses: DOGE Rebound Soon?

Quick Summary:

From the graph, it’s visible that most of the altcoins are currently in the bullish region, with some of them even seeing their divergence surpassing the 1 level, corresponding to a region that Santiment classifies as the “Opportunity Zone.” According to the analytics firm, Dogecoin, Toncoin (TON), and Ethereum (ETH) have seen the lowest 6-month MVRV values recently, with traders who bought them in the last six months sitting at 32%, 23%, and 22% losses, respectively.

Dogecoin MVRV Suggests DOGE May Be Offering A Buy Window In a new post on X, the on-chain analytics firm Santiment has discussed how assets like Dogecoin and XRP (XRP) have been looking like regarding trader returns on various timeframes.

Based on these facts, Santiment has developed an “Opportunity & Danger Zone Model,” which finds out how the mid-term versions of the MVRV have diverged from the norm for the different coins in the sector.

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Article Details

Author / Journalist: Keshav Verma

Category: Crypto

Markets: United KingdomIndiaJapan

Topics: Dogecoin MVRV Altcoins Dogecoin Loss Doge Dogeusd Dogecoin Dogecoin Bullish

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-06 @ 06:00:01 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 468 words

Reading Time: 3 minutes read

Sentences: 65 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22387907

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