Dogecoin’s weekly hike – Most holders stay ‘In the Money’ despite…

Dogecoin's Market Dominance Remains Despite Recent Downtrend

Dogecoin [DOGE] has maintained a strong presence in the memecoin market, despite experiencing a slight decline over the past 24 hours.

Bullish Momentum Mitigated by Downtrends

DOGE's positive trend from the previous week continued into this week, with an initial 4% surge on July 21st. However, the last two days have witnessed a shift, resulting in a 1.70% decrease on July 22nd, followed by a further 1.8% drop.

Underlying Technical Strength

Despite these declines, technical indicators suggest that DOGE's underlying strength remains intact. The Relative Strength Index (RSI) currently stands at around 60, indicating a bullish trend zone.

Weekly Gains Preserved

Despite the recent跌势，DOGE has managed to retain the gains accumulated over the past week. CoinGecko data shows an impressive 11% increase, while CoinMarketCap reports a trading volume of approximately $1.3 billion.

Majority of DOGE Wallets Show Profits

According to IntoTheBlock's Global In/Out of Money indicator, nearly 78.31% of Dogecoin wallets are currently in profit. This translates to almost 5% of addresses holding coins at a gain.

Conclusion

Although DOGE has experienced a slight setback in the last 24 hours, the cryptocurrency's market dominance remains strong. Technical indicators suggest underlying strength, and a large majority of holders are still seeing profits from their investments.