Dogecoin Averages 1.3% on its 'Best' Trade Day: Here's Why

However, if this trend prolongs for a longer duration, it tends to become concerning because it means that the coin’s network is becoming stagnant. Usually, drops in the MDIA serve as a signal for upcoming price rises. Thus, the current uptrend on this front is perhaps one of the reasons why DOGE is struggling to appreciate.

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Most Active DOGE Addresses in a ‘Break Even’ Position

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As far as the profitability status is concerned, the major chunk of ‘active’ DOGE investors have been in a break-even position over the past few months, giving them a reason to remain dormant. At the beginning of June, 72% of DOGE’s active addresses were ‘at the money.’ The situation has not significantly changed over the months. The reading was seen hovering around hovering around 66.67% at press time.

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Most of the remaining addresses [32.96%] were in loss, with a mere 0.37% in profit. Thus, only when the profitability numbers improve, the network would become more active and foster additional transactions. This, in turn, would be accompanied by a volatility influx into the DOGE market. At press time, DOGE was trading at $0.0633, down by 0.18% over the past 24-hours.

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