Does DOGE present itself as a ‘legitimate’ investment option at this point
ambcrypto.comDOGE, the market’s biggest meme-coin, hasn’t been performing that well of late. At the time of this analysis, the crypto was trading at a 20% discount, when compared to its 1 November peak.
Contrary to one’s assumptions, however, the state of DOGE’s metrics have been redefined lately. So, does this mean DOGE’s price will increase over the coming weeks?
Messari’s data revealed quite an intriguing trend with respect to the meme coin’s network-value-to-transaction ratio. Simply stated, this ratio gauges the relationship between the market cap and the transfer volumes.
Whenever the NVT is high, it indicates that the network value is outpacing the value being transferred on the network.
Source: Messari
Now, this usually doesn’t rub off immediately on
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