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koinmilyoner
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Bullish
Now Buy or Sell Dogecoin?
Dogecoin (DOGE) has again drawn market analysts' attention, with Santiment reporting a “blood in the streets” moment. The firm's newest analysis, released on January 8 via X, shows negative MVRV (Market Value to Realized Value) ratios for Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Dogecoin.
“Average trading returns are a great representation of whether ‘buying low’ or ‘selling high’ is actually the right timing,” Santiment said, adding that on-chain analytics indicate that many crypto assets are oversold.
The -8.89% MVRV ratio for Dogecoin shows that investors who bought DOGE in the previous 30 days are sitting on significant losses. Compared to Bitcoin's -3.73%, Dogecoin's short-term holders are further in the red. Ethereum (-7.71%) and Cardano (-6.69%) are also down, although their holders are doing better than Dogecoin.
DOGE's MVRV is the most negative of the four, thus market stabilization should boost its rebound bounce. It also increases risk if crypto sentiment continues weak. As Santiment highlighted, traders look for negative MVRV to “buy low,” but this does not guarantee quick gain.
Santiment's study highlights macroeconomic factors' acceleration of the crypto market's sell-off. Following surprisingly strong economic indications, the 10-year Treasury rose to 4.67% on Tuesday, January 7.
The higher-than-expected ISM Prices Paid Index, which may indicate inflation, and a surprising JOLTS job postings increase caused market worry.
Contrasting signals make trading difficult. Santiment's indicators suggest favorable historical circumstances for investors, particularly DOGE at -8.89% MVRV. However, ambiguous macro indicators like Treasury rates and inflation might slow any comeback.
Santiment is cautious: “Do not assume these opportunity zone signals will lead to an immediate turnaround. Crypto is likely to come around soon, providing no economic or geopolitical issues arise.
#Dogecoin #CryptoMarketDip #doge⚡ $DOGE
Dogecoin (DOGE) has again drawn market analysts' attention, with Santiment reporting a “blood in the streets” moment. The firm's newest analysis, released on January 8 via X, shows negative MVRV (Market Value to Realized Value) ratios for Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Dogecoin.
“Average trading returns are a great representation of whether ‘buying low’ or ‘selling high’ is actually the right timing,” Santiment said, adding that on-chain analytics indicate that many crypto assets are oversold.
The -8.89% MVRV ratio for Dogecoin shows that investors who bought DOGE in the previous 30 days are sitting on significant losses. Compared to Bitcoin's -3.73%, Dogecoin's short-term holders are further in the red. Ethereum (-7.71%) and Cardano (-6.69%) are also down, although their holders are doing better than Dogecoin.
DOGE's MVRV is the most negative of the four, thus market stabilization should boost its rebound bounce. It also increases risk if crypto sentiment continues weak. As Santiment highlighted, traders look for negative MVRV to “buy low,” but this does not guarantee quick gain.
Santiment's study highlights macroeconomic factors' acceleration of the crypto market's sell-off. Following surprisingly strong economic indications, the 10-year Treasury rose to 4.67% on Tuesday, January 7.
The higher-than-expected ISM Prices Paid Index, which may indicate inflation, and a surprising JOLTS job postings increase caused market worry.
Contrasting signals make trading difficult. Santiment's indicators suggest favorable historical circumstances for investors, particularly DOGE at -8.89% MVRV. However, ambiguous macro indicators like Treasury rates and inflation might slow any comeback.
Santiment is cautious: “Do not assume these opportunity zone signals will lead to an immediate turnaround. Crypto is likely to come around soon, providing no economic or geopolitical issues arise.
#Dogecoin #CryptoMarketDip #doge⚡ $DOGE
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