'Yellow flags' mark OMG's -10.5% dump

A
@Ibis
Apr 2, 2021

OmiseGo's native token (OMG) was one of Thursday's top performers, gaining over +19% on the day and reaching a 30-month high $8.13.


However, the tide seems to be quickly turning for the ERC-20 coin, which has already lost -10.5% in the last 12 hours as a number of concerning on-chain and social indicators began to emerge.


Here are 5 worrying signals that we noticed in OMG's fundamentals as the correction started:


OMG, daily active deposits, past 6 months (Source: Sanbase)
OMG, exchange inflow, past 2 months (Source: Sanbase)
OMG, Network Realized Profit/Loss, past 3 months (Source: Sanbase)
OMG, 30-day MVRV ratio, past 12 months (Source: Sanbase)
OMG, social volume, 7-day moving average, past 30 days (Source: Sanbase)


As you can see, it seems like elevated sell-offs, profit taking and growing hype are prompting a short-term OMG correction for the time being.


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