The Reason for Dogecoin (DOGE) Being a Top Investment Choice Over Shiba Inu (SHIB) Today

Wednesday, 20 March 2024, 17:30
Dogecoin (DOGE) is experiencing a notable decline in price recently, potentially setting the stage for a positive rebound. Despite the drop, the Market Value to Realized Value (MVRV) ratio of DOGE indicates a lucrative opportunity for investors, unlike Shiba Inu (SHIB). Dogecoin's MVRV ratio currently stands at -10.4%, signaling potential profitability upon recovery initiation, supported by strong whale holdings.

Dogecoin Price Decline to Be Reversed?

Dogecoin price fell by over 26% in the past ten days but may pave the way for a positive turnaround given the right conditions.

DOGE Price Prediction: Recovery on the Cards

If the price correction leads to a positive impact, Dogecoin could reclaim $0.147 as a support and head towards $0.150, while a downward trend could take DOGE towards $0.100, invalidating the bullish thesis.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe