Market Correction Triggers Altcoin Sell-Offs
According to analytics firm Santiment, the recent market correction has led to significant losses for altcoin traders. Over 85% of tracked assets are in a prime opportunity zone, indicating potential for rallies.
MVRV Indicator Signals Undervaluation
The Market Value to Realized Value (MVRV) indicator suggests that most altcoins are undervalued. This creates a “historic position” for rallies.
Traders Shift Focus to Stable Altcoins
Amid the potential rally, traders are moving away from volatile altcoins like Dogecoin (DOGE) and towards more stable assets like Bitcoin.
Dogecoin and Bitcoin Price Action
DOGE has dropped over 34% from its 2024 high, while Bitcoin has decreased by 13%.
