Recent report shows that DOGE is currently in 'very bullish' position, according to key metric, but SHIB's stance is even better
Recent report shows that DOGE is currently in 'very bullish' position, according to key metric, but SHIB's stance is even betterDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies.
A recent analytics report published by on-chain data company Santiment reveals “very bullish” data for the two largest meme cryptocurrencies –The report says that the lower the MVRV of a cryptocurrency, the higher the chance it has of enjoying a short-term price bounce in the future. Aside from DOGE and SHIB, the report mentions several other top 10 cryptocurrencies: Bitcoin and several altcoins.
As for the rest of the cryptocurrencies on this list, Bitcoin, Ethereum, XRP and Toncoin, the readings are “mildly bullish” and “neutral.”When a commentator, apparently a SHIB fan, asked what reading here has Shiba Inu, Santiment responded: “-19.1%, lowest among these large caps.” This indicates that SHIB’s stance at the moment is even more bullish than for DOGE and ADA.has published an update to show that the Shiba Inu burn rate has staged a modest increase of 44.
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