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Showing posts with the label mvrv

Ethereum Price Pulls Back To $3,500, But MVRV Signals Uptrend Continuation Likely

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Pepe Coin '2.0' Helps Trader Turn $900 to $176,000

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When Pepe Coin was launched in April this year, a host of early investors ended up becoming multi-millionaires. However, as pointed out in a recent article, around 80% of the profits were accrued in the first week of Pepe’s issuance. With most investors sitting on their tokens, the net liquidity seems to be limited at the moment. Over the past week, the asset has risen by around 11%, as its price stood at $0.000001739 at press time. The market value refinement has also helped the MVRV ratio. At press time, this metric flashed a value of 1.28, indicating that the market value of Pepe Coin is currently more than its realized value. In fact, the current reading is reminiscent of levels registered during mid-May. Thus, amid the current profitable conditions, investors could end up selling their assets. Source: IntoTheBlock According to on-chain data, zero-balance addresses have risen 26% over the past week. This indicated that the Pepe Coin sell-off has started already. ...