Categories: Market

On-chain data shows that 68% of Dogecoin holders are profitable, although the price is still divided by 3 against ATH

Dogecoin had a great year and many of its owners have made huge profits from reliance on this meme coin.

Up to 68% of Dogecoin holders are currently making a profit, according to IntoTheBlock’s on-chain data, despite the fact that the coin has fallen sharply from its all-time high of $ 0.70. The data continues to show that 26% of owners lose money while 7% break even.

The source: IntoTheBlock

You will recall that Dogecoin attracted a lot of attention earlier in the year when its value hit $ 0.70 as it became the most sought after crypto asset during that time. The price hike was largely due to WallStreetBets’ FOMO and interest from celebrities, particularly billionaires Elon Musk and Mark Cuban.

The institutional interest in Dogecoin is growing

Institutional interest in Dogecoin has skyrocketed as more and more companies accept DOGE as a means of payment for their services, goods, or merchandise. A good example is leading US cinema chain AMC, which has stated that it is now accepting DOGE payments for their cinema tickets and gift cards.

In addition to AMC, data from Cryptwerk has shown that over 1,700 companies, including BitPlaza, have used digital assets as their preferred payment option.

The growth of Dogecoin has also resulted in the introduction of many copycats to the market such as Baby Doge, Daddy Doge, Mommy Doge, Shiba Inu and, more recently, Floki Inu. Among them, Shiba Inu seems to be the most perfect copy of Dogecoin.

One items The Wall Street Journal recently revealed that there has been a silent argument over who owns the Dogecoin identity brand and those copycats. Dogecoin, for example, has the symbol of the Shiba dog meme, but it is the current Shiba Inu coin that is getting more people to associate this meme directly.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Khong Minh

According to CryptoSlate

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

24 minutes ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

31 minutes ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

55 minutes ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

2 hours ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

3 hours ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

4 hours ago

This website uses cookies.