👀 According to AMBCrypto: Are $FET , $RNDR Set For Another Big Rally?
The social volume for both RNDR and FET has surged in recent days, indicating heightened interest and engagement among investors.
However, sentiment surrounding FET declined, suggesting that negative comments on social media have outweighed positive ones, potentially posing challenges for further price growth.
Coming to RNDR, sentiment around the AI token remained relatively high at press time, hinting at sustained optimism among investors.
However, Network Growth for both FET and RNDR slowed, showcasing a decline in interest from new addresses.
This implied that the recent surge in prices may be driven primarily by existing holders accumulating more tokens.
The MVRV (Market Value to Realized Value) ratio for RNDR and FET remained high at press time, indicating that despite accumulation, most addresses are still profitable.
A high MVRV ratio suggests that most investors are in profit, potentially leading to profit-taking and selling pressure.
Additionally, the price movement of both tokens exhibited similarities, with higher highs and higher lows over the past month, indicative of a bullish trend.
This pattern suggests that despite short-term fluctuations, there is an underlying positive sentiment driving the market for both RNDR and FET.
