Santiment Indicates Ethereum Dogecoin and Five Other Altcoins Flashing ShortTerm Bullish Signals

Coin World reports:
The renowned cryptocurrency analysis firm Santiment has released a list of large-cap altcoins that may see a short-term rebound after last week’s adjustment.
The crypto insights company stated on social media platform X that the market value to realized value (MVRV) indicators for seven altcoins have dropped to negative values.
MVRV is the ratio of a digital asset’s market capitalization to its realized capital, or the value of all coins at their purchase price. When the MVRV value falls below zero, it indicates that the coin is currently oversold or undervalued.
Santiment says,
“The lower a coin’s 30-day MVRV, the less risk there is in opening or increasing a position in the short term.”
According to the analysis firm’s data, the top meme coin Dogecoin (DOGE) carries the least risk among the notable large-cap crypto assets with an MVRV value of -19.7%. Following closely are the decentralized exchange Uniswap (UNI) and the peer-to-peer payment network Litecoin (LTC), with MVRV values of -16.3% and -15%, respectively.
The leading smart contract platform Ethereum (ETH) ranks fourth with an MVRV score of -13.2%. The decentralized oracle network Chainlink (LINK) is fifth with an MVRV value of -11.1%, followed by XRP at -10.1%.
Ranked seventh is Ethereum’s competitor Cardano (ADA), with an MVRV value of -9.9%.
Source: Santiment/X
Santiment notes that the only exception among the large-cap altcoins is the first-layer protocol Toncoin (TON), with an MVRV score of +4.0%.
As for Bitcoin (BTC), the king of cryptocurrencies has an MVRV score of -9.64%.
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