Santiment Analytics says most altcoins will be on the rise after a one-month crypto correction.
Santiment states that many altcoin investors have suffered heavy losses due to the current marketwide pullback.
“According to our model, the mid-term gains and losses by average wallets indicate heavy realized losses across most altcoins. Over 85% of assets we track are in a historic opportunity zone when calculating the market value to realized value (MVRV) of wallets’ collective returns over one-month, three-month and six-month cycles.”
MVRV (Measurement Value Relative to Value) is a on-chain indicator that is used for assessing whether or not cryptocurrencies are undervalued.
The MVRV is hovering in prime opportunities zones for altcoins across multiple timeframes. According to the analytics company, altcoins could be on the rise. “historic position” Watch rallies.
“It may be justified to buy while there is growing fear seeping in from the crowd after all of these market cap dips.”
Santiment’s note that as traders prepare for an eventual rally, they are beginning to overlook volatile altcoins (such as Dogecoin) is indicative of a shift in attitude.DOGE() for crypto assets which have performed well in turbulent conditions.
“The total amount of non-empty Bitcoin wallets is rapidly growing despite choppy prices. Altcoin wallets for assets like Dogecoin have flattened after enormous rises earlier this year. Cardano is one of the few networks to see active wallets drop.”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1714380543_83_Most-Altcoins-in-Historic-Position-to-Rally-As-Traders-Realize.jpeg)
DOGE, at the time of this writing, is currently trading for $0.149. This represents a 34% decrease from its previous high of $0.228 in 2024. Bitcoin’s value is $64,000, down 13% on its previous high of $73,650 in 2024.
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