MVRV Z-Score Signals Potential Buying Opportunities for Uniswap and Shiba Inu

• TON, BTC, and ETH are overbought, while UNI and SHIB are oversold.
• Large-cap token conditions were established by the MVRV Z-Score indicator.
• SHIB community members are excited over memecoin’s oversold condition.

Santiment, a crypto market analysis platform utilizing social and on-chain metrics, has assessed some top cryptocurrencies using its MVRV Z-Score indicator. The analysis reveals that Toncoin, Bitcoin, and Ethereum are currently overbought, while Uniswap and Shiba Inu are oversold.

According to MVRV Z-Score, which identifies overvalued and undervalued assets based on average trader returns, top caps are in the following categories:

Overbought: Toncoin, Bitcoin, Ethereum
Underbought: Uniswap, Shiba Inu pic.twitter.com/PWESMh7wRf

— Santiment (@santimentfeed) June 29, 2024

According to Santiment, the MVRV Z-Score identifies overvalued and undervalued assets based on average trader returns. The listed cryptocurrencies represent some of the top-cap coins monitored by the platform. Notably, Santiment’s MVRV Z-Score readings were taken with Bitcoin priced at $60,300.

Santiment’s post about the status of these coins has generated excitement among cr…

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