#创作者挑战赛 DOGE (DOGE) is facing another major setback as its Market Cap to Realized Value (MVRV) ratio has dropped below the 200-day moving average. Historical patterns indicate that this is not a good sign.

Death Cross: Why is a drop in MVRV a warning signal?
MVRV ratio is a key indicator that measures whether a cryptocurrency is overvalued or undervalued by comparing the market price of the cryptocurrency to the average price at which investors bought it.
When MVRV falls below the 200-day moving average, it indicates that a large portion of holders are at a loss.
This usually triggers panic selling and increases downward pressure as investors are eager to cut losses.
How's the situation in the past?
Autumn 2023: After MVRV fell, DOGE plummeted by 26%.
Summer 2024: The second similar signal led to a larger 44% decline.
Given the similarity of the current situation to past downturns, the market is closely watching for signs of another potential crash.
Bollinger Bands warn of further decline
Technical indicators suggest a further 20% drop, which could push DOGE down to a key support level near $0.219.
Bollinger Bands show that DOGE is approaching the lower limit. If the support level fails, it may trigger more selling. Now all eyes are on whether DOGE can hold the key level or suffer greater losses.
Can the DOGE ETF reverse the situation?
Currently, shitcoins are in a difficult situation because Bitcoin has not been able to break through the six-digit mark. DOGE has high volatility, with fluctuations of 10-20% in a single day, causing unrest in the market. The hope of reversing the situation may lie in DOGE ETF. According to the ETF theory, the approval of a shitcoin ETF can facilitate funds flowing directly from Bitcoin ETF into potential DOGE ETF.
📢 If DOGE ETF becomes a reality, it can provide new momentum and drive long-term price growth.