Dogecoin's price has jumped 27% over the past month, putting it in the lead among #Memecoinsđ¤đ¤ . At the same time, $DOGE
is still undervalued, offering convenient buying opportunities
We analyze under what conditions the price of the popular memcoin Dogecoin (#doge⥠) can continue to grow in the near term.
Dogecoin gives a buy signal
The market to realized value ratio (MVRV) of Dogecoin is a key indicator for assessing profitability. It shows that the altcoin remains undervalued right now, despite rising 27% over the past month.
At the time of writing, the 60-day MVRV was -8.18%. The negative value indicates that DOGE's current market price is below its average price over the past 60 days. The asset is selling below its historical value. This is traditionally considered a signal for a favorable purchase.
