Price: $0.29364 28.4428%
Market Cap: 43.09B 1.5976%
Volume (24h): 16.98B 0.3%
Dominance: 1.5976%
Price: $0.29364 28.4428%
Market Cap: 43.09B 1.5976%
Volume (24h): 16.98B 0.3%
Dominance: 1.5976% 1.5976%
  • Price: $0.29364 28.4428%
  • Market Cap: 43.09B 1.5976%
  • Volume (24h): 16.98B 0.3%
  • Dominance: 1.5976% 1.5976%
  • Price: $0.29364 28.4428%
Home > Information news > Here’s how many Dogecoin investors are in profit right now

Here’s how many Dogecoin investors are in profit right now

Release: 2023/11/26 06:11 Reading: 308

Original author:TheBitTimes

Original source:https://coinmarketcap.com/community/articles/6562028dba4fef06a906406f

Dogecoin (DOGE) is one of the oldest and most popular cryptocurrencies in the crypto market. In 2021, Elon Musk leveraged its popularity by showing public support and enthusiasm for the leading meme coin, which brought more investors to the project.

Notably, more than half of all Dogecoin investors are holding a profitable position on DOGE at the time of publication, according to data from IntoTheBlock on November 25.

Essentially, this shows resilience in Dogecoin’s capacity as a store of value for these investors. As well as it could also indicate that these holders might sell DOGE at any moment to realize this profit.

In particular, 57% of every cryptocurrency wallet address holding DOGE is “In The Money.” This means these Dogecoin investors bought DOGE at a price lower than the current $0.078342 per coin.

Dogecoin (DOGE) token summary and holders.

Dogecoin investors are long-term holders

Cryptocurrency

3 cryptos to buy under $0.10 next week

Cryptocurrency

100 new DOGE millionaire wallets emerge; A sign of 'big money' interest

Cryptocurrency

1 out of 3 Cardano holders are in profit

Stocks

These stocks delivered biggest shareholder returns in last decade

Cryptocurrency

Short squeeze alert for November 21: Two cryptocurrencies with potential to skyrocket

Interestingly, 73% of all Dogecoin investors hold their positions for over a year. These long-term holders are followed by 27% holding for less than one year, out of which 4% are positions with less than one month.

The concentration by large holders is also notable. 65% of all Dogecoin addresses are considered either “investors” or “whales” by IntoTheBlock. Investors hold more than 0.1% of DOGE’s circulating supply, while whales own at least 1% of it.

Moreover, despite 57% of all Dogecoin investors being in profit, 38% are holding losses, and 5% are sitting in a breakeven position. With a 79% correlation to Bitcoin (BTC), cryptocurrency traders wonder what is next for DOGE in this brewing bull market.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source: https://thebittimes.com/here-s-how-many-dogecoin-investors-are-in-profit-right-now-tbt71602.html

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.