Dogecoin (Doge) witnessed another intersection of death, as the percentage of market value to the value (MVRV) fell to less than the moving average for 200 days. Historically, this was not a positive sign. At the last time this happened, Dog saw a decrease in the price of 26 % and 44 %, respectively.
The MVRV ratio measures whether the original is exaggerated or denied by its value by comparing the market price to the average price that investors gained. When it decreases to less than the moving average for 200 days, it indicates that a large part of their holders in a losing position, often increases the pressure pressure.
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In previous cases, Dog saw a 26 % decrease in the fall of 2023, followed by a 44 % decrease in the summer of 2024. With similar circumstances now, market participants closely monitor other signs of contraction.
Meanwhile, Bollinger domains indicate more risk of the negative side. A potential decrease of 20 % of the current levels can reach the lower domain, which is about $ 0.219. This level may serve as a critical support area if the landmark continues.
Can Dog Etf bring positive?
For Dog, the ball is located in the wider market stadium. With Bitcoin failing to break more than six numbers and swing 10 %, then decreased by 20 % during the day, it is difficult to feel optimistic about this image.
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But do not forget Dogecoin Etf. According to the ETF theory, which is currently gaining traction, as soon as the funds circulating in the exchange on Altcoin will find the money is an easier way to flow from the investment funds circulating in Bitcoin to the same Doge ETF.
