Summary
TLDR: ONDO price doubled in a month, reaching $0.90, leading to concerns about potential overvaluation. Number of holders also doubled in a month, reaching over 10,000. MVRV Z Score increased sharply, indicating potential overvaluation. Technical analysis shows bullish outlook, but corrections may occur before new all-time highs. Short-term EMA lines crossed above long-term lines, suggesting a bullish trend. Predictions indicate a potential correction to $0.84 before new surges to all-time highs.
Key Points
1. The ONDO price experienced a significant jump from $0.40 to $0.90 in the past week, doubling its holder base in just a month.
2. The Market Value to Realized Value (MVRV) Z Score for ONDO is at 3.63, indicating potential overvaluation, but technical analysis suggests a bullish outlook with room for establishing new all-time highs.
3. The number of ONDO holders soared from 4,872 to over 10,000 within a month, aligning closely with the price appreciation and signaling potential for further growth and price peaks.