Undervalued Cryptos Highlight Potential for Rebound: Shiba Inu, Dogecoin, and Cardano

Santiment's latest analysis highlights that Shiba Inu, Dogecoin, and Cardano are undervalued, increasing the likelihood of a significant price rebound.

cryptanalytic firm Santiment's latest analysis highlights Shiba Inu, Dogecoin, and Cardano as being undervalued, increasing the likelihood of a significant price rebound.

The latest findings from Santiment indicate that the 30-day Market Value to Realized Value (MVRV) ratio revealed that several assets were valued in the lower percentiles.

A lower MVRV ratio indicates that traders are holding assets at a loss, which—according to Santiment—signals a higher chance of a price rebound—owing to oversold conditions that may attract buying activity.

According to the data provided by Santiment, Bitcoin (BTC) has an MVRV of -4%, while Ethereum (ETH) has an MVRV of -4.3%, and XRP has an MVRV of -3.5%, indicating mild bullish conditions.

Dogecoin and Cardano Show Promising Signs

Meanwhile, Dogecoin (DOGE) and Cardano (ADA) exhibit a more extreme undervaluation, with MVRVs of -16.7% and -12.6%, respectively, suggesting a fairly bullish outlook for the possibility of a price rebound.

Toncoin (TON), which has seen a spectacular run over the past several weeks, had an MVRV of -0.6%. The cryptocurrency still appears to be quite neutral. This metric largely indicates a balanced market with no clear signs of an immediate shift in either direction.

Shiba Inu's Extreme Undervaluation

Notably, the popular meme coin Shiba Inu (SHIB) has the lowest MVRV among these large-cap tokens, at -19.1%.

This value also indicates a possible strong bullish rebound.

Bitcoin's Quiet Phase Signals Maturity

As CryptoPotato reported, despite an attempt to break $70,000 that proved unsuccessful, Bitcoin's price action over the past few weeks has been on the quieter side — in line with the broader market trend. According to some, this “boring” price movement is a sign that the world’s leading asset has matured.

Indicating that the apex coin could be gearing up for more gains, the exchange supply of BTC is still close to its December 2021 levels.

As covered by a previous study, the current state of affairs is reminiscent of the early stages of past bull markets, further bolstering the narrative that BTC is primed for more rallies and that the Bitcoin market cycle has yet to reach its peak euphoria stage.

News source：https://www.kdj.com/cryptocurrencies-news/articles/undervalued-cryptos-highlight-potential-rebound-shiba-inu-dogecoin-cardano.html

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