Dogecoin, Shiba Inu and seven other crypto assets are massively undervalued based on a single metric: Santiment

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Analytics platform Santiment reports that the two largest meme coins by market capitalization and seven other crypto assets currently pose relatively lower risk to investors.

According to Santiment, based on the Market Value to Realized Value (MVRV) Z-score, Dogecoin (DOGE) and Shiba Inu (SHIB) are undervalued and lower risk.

Dogecoin is trading at $0.86 at the time of writing while Shiba Inu changes hands at $0.000012.

The MVRV Z score is used to determine whether an asset is undervalued or overvalued. When the MVRV Z-score is in negative territory, it implies that an asset is undervalued and vice versa. Shiba Inu currently has a Z MVRV score of -1.88 while Dogecoins is -0.162, according to Santiment.

Other crypto assets that Santiment says are undervalued are Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), layer 2 solution Polygon (MATIC), decentralized exchange Uniswap (UNI) and the Oracle Chainlink (LINK) blockchain.

On the other hand, Santiment says that Binance Coin (BNB), with a Z MVRV score of 0.87, is overvalued.

“According to the MVRV Z-Score, which identifies overvalued and undervalued assets based on short-term and long-term returns, top caps fall into the following categories:

Overvalued: BNB

Undervalued: BTC, ETH, XRP, ADA, DOGE, MATIC, SHIB, UNI, LINK. »

Source: Santiment/Twitter

When it comes to Bitcoin, Santiment says positive returns from top crypto assets year-to-date have driven levels of crowd optimism in the markets to a six-month high.

“Traders are treating signs of Bitcoin life as a signal that a bigger breakout may soon be looming. January’s rebound over $21,000 gave the crowd the most optimism they’ve had in the markets since July.

Source: Santiment/TwitterDon’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Check the price action Follow us on Twitter, Facebook and Telegram Surf to The Daily Hodl Mix Check the latest news headlines not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

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