Should You Add Dogecoin to Your Portfolio?
The Dogecoin price drop over the past week appears to be a blessing in disguise for Dogecoin and its investors. According to the market cap to real value (MVRV) ratio, the drop has put the meme coin in an accumulation zone.
The MVRV ratio measures the profits and losses of investors. Currently, Dogecoin’s short-term 7-day MVRV is at 4.9%, indicating losses and the end of selling pressure.
Historically, an MVRV level between -4.9% and -14.9% for Dogecoin typically indicates the beginning of a recovery, making it an area of opportunity for accumulation.
