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.

특히 11월 25일 IntoTheBlock의 데이터에 따르면 전체 Dogecoin 투자자의 절반 이상이 발행 시점에 DOGE에서 수익성 있는 포지션을 보유하고 있습니다.

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.

특히 DOGE를 보유하고 있는 모든 암호화폐 지갑 주소 중 57%가 'In The Money'입니다. 이는 Dogecoin 투자자들이 현재 코인당 $0.078342보다 낮은 가격으로 DOGE를 구입했음을 의미합니다.

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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.

대형주들의 집중도도 눈에 띈다. IntoTheBlock에서는 모든 Dogecoin 주소의 65%를 "투자자" 또는 "고래"로 간주합니다. 투자자는 DOGE 순환 공급량의 0.1% 이상을 보유하고 있으며, 고래는 이 중 최소 1%를 보유하고 있습니다.

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.

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