55% Dogecoin (DOGE) Holders Now In Profit As It Rallies 20%

Key Points:

• According to IntoTheBlock, 55% of Dogecoin owners are in the green, 40% are losing money, and 4% are breaking even.
• 73% of DOGE owners have held the leading meme coin for more than a year, while only 3% have purchased Dogecoin in the previous month.

According to a top analytics firm, the bulk of Dogecoin (DOGE) holders are now witnessing gains following the cryptocurrency’s impressive performance this month.

According to IntoTheBlock, 55% of DOGE owners are in the green, 40% are losing money, and 4% are breaking even.

This month, Dogecoin has had positive price activity, surging from the first day of the 2023 opening of $0.068 to its current price of $0.083, representing gains of more than 19% in just three weeks.

Despite this month’s rally, DOGE is still down more than 87% from its all-time high, set in May 2021.

According to IntoTheBlock, 73% of DOGE owners have held the leading meme coin for more than a year, while only 3% have purchased Dogecoin in the previous month. Approximately 24% of DOGE holders have held the asset for less than a year but longer than a month.

Smart Contracter, a well-known crypto strategist, is also keeping a close eye on Dogecoin. After completing an ABC corrective move on the three-day chart and retesting a prior resistance region as support, the analyst informs that the meme asset appears fascinating in its Bitcoin pair (DOGE/BTC).

At the time of writing, the DOGE/BTC pair is trading at 0.00000372 BTC ($0.089), which is still higher than Smart Contracter’s support level.

Coincu previously reported that Dogecoin (DOGE) and Shiba Inu (SHIB) have skyrocketed with Bitcoin and the broader market, leaving the new much-hyped dog-themed cryptocurrency Bonk (BONK) in the rearview mirror.

Bit Mining announced the availability of their cutting-edge, model LD3 Litecoin and Dogecoin mining device, which was created exclusively for mining on the DOGE and LTC blockchains.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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