The Market Value to Realized Value (MVRV) ratio, an analytic tool used to determine the profit or loss status of investors, shows DOGE is currently positioned for acquisition.
The 7-day MVRV ratio of -7.55% indicates many holders are experiencing losses, a condition often preceding a recovery phase. Historically, an MVRV ratio falling between -5% and -15% signals a conducive time for purchase.
Moreover, around 6.8 billion DOGE, equivalent to over $1.2 billion, are nearing a profit margin, having been bought at prices ranging from $0.169 to $0.188. As the price approaches the higher limit of this range, investor sentiment leans towards holding the asset, which may support a price increase.
