NewsBTC

17 June 2025

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Dogecoin’s MVRV Z-Score at 0.28 Indicates Bearish Sentiment

Dogecoin's Market-Value-to-Realised-Value (MVRV) Z-Score is at 0.28, indicating potential capitulation despite a price of approximately $0.17 and a market cap of around $26 billion. This score suggests weak on-chain sentiment, contrasting with its price movement showing higher highs and lows.

• Previous cycle tops had Z-Scores of ≈11 in 2017 and ≈16 in 2021; current peak is 3.5.
• Restrictive monetary policy from the US Federal Reserve affects altcoins, delaying their performance compared to Bitcoin.
• The Fed has maintained interest rates between 4.25%–4.50% since January; cuts expected around September.
• European Central Bank (ECB) has reduced borrowing costs but remains cautious about quantitative easing (QE).
• MVRV analysis indicates that values above +9 correlate with market peaks; today’s 0.28 is considered low.
• Macro conditions are crucial for DOGE’s performance; potential upside linked to future shifts in liquidity policies.

At press time, DOGE is trading at $0.17387.