The current on-chain data indicates that seven altcoins, including Dogecoin, Uniswap, and Litecoin, have entered negative MVRV territory. This suggests that these coins are oversold and undervalued, potentially signaling a buying opportunity. Santiment, a well-known crypto analytics firm, has recently updated a list of large-cap altcoins that may experience short-term rallies post the recent market correction. The MVRV metric, which stands for market-value-to-realized-value, has dropped below zero for these altcoins, highlighting their undervalued status. When the 30-day MVRV of a coin is low, the risk associated with entering or expanding a position for a short-term period decreases. Among these altcoins, Dogecoin stands out with an MVRV of -19.7%, offering an attractive risk-reward ratio. Uniswap's UNI token follows with a -16.3% MVRV, and Litecoin's MVRV is at -15%. Ethereum, Chainlink, XRP, and Cardano also show negative MVRV values. Additionally, three other altcoins are suggested for potential price rallies by market analysts. On the other hand, Bitcoin's MVRV ratio has recently turned negative for the first time since March 2023, currently hovering around -9.65%. Analysts are closely observing Bitcoin's MVRV to see if it surpasses its one-year moving average, indicating a possible uptrend. Despite the market weakness and Bitcoin's temporary price dip, the outlook remains uncertain, with possibilities of consolidation, quick recovery, or further decline. The recent downward pressure on Bitcoin's price is attributed to factors such as German government selling and BTC transfers by Mt. Gox creditors. Overall, the market presents both buying opportunities and risks, with the future direction relying on various market metrics.