In the current situation of rising crypto market, what are the token assets that are easy to ignore?
DODO
As shown in Figure 1. Dodo's 30-day MVRV is -18%. An MVRV of -20% or lower is usually a good sign that a rally is imminent (or at least eventually imminent). At the same time, its 365-day MVRV is -35%, and historically, the asset is in a range that suggests a buying opportunity.
CLOSE
As shown in Figure 2. LOKA's 30-day MVRV has actually rebounded recently, and -9% may not be as enticing as some other assets. But a 365-day MVRV of -50% suggests that long-term traders have been completely overwhelmed by LOKA's poor performance over the past year, thereby ignoring signs of a rebound.
REEF
As shown in Figure 3. Reef's 30-day MVRV is in the opportunity zone, currently at -23%. Its 365-day MVRV looks equally interesting at -38%. Given the significant pain felt by traders and holders of the 421st largest asset by market capitalization, it might be worth looking into.
As a reminder, MVRV should be viewed incrementally and at scale. Not as a binary indicator, if the 30-day MVRV is below 20%, it becomes an automatic buy candidate. Think of lowering it as a progressively better math opportunity. But they can always go lower, and anomalies do happen!
(Data source: @brianq, santiment)
