Dogecoin, Shiba Inu and seven additional crypto assets are significantly undervalued based on one metric: Santiment

According to analytics platform Santiment, the two meme coins with the largest market capitalization and seven other crypto assets currently pose relatively low risk to investors.

Santimento To tell Dogecoin (DOGE) and Shiba Inu (SHIB) are undervalued and low risk based on their Market Value vs. Realized Value (MVRV) Z-scores.

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

The MVRV Z-score is used to determine whether an asset is undervalued or overvalued. If the MVRV Z-score is in the negative region, it means the asset is undervalued and vice versa. Currently, Shiba Inu has a MVRV Z-score of -1.88, while Dogecoin has a Z-score of -0.162, according to Santiment.

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

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

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

Overrated: BNB

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

Bitcoin Turns to Santiment To tell The flagship crypto asset’s positive year-to-date return has lifted optimism levels in the market crowd to a six-month high.

“Traders are treating Bitcoin’s signs of life as a signal that a bigger breakout may be on the horizon. We have given the market a positive view,” he said.

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