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According to InTheBlock on-chain data, 63% of Dogecoin (DOGE) holders are profitable at spot prices. Only 35 per cent have no money left, while only 2 per cent have reached the break-even point.
74% Of Dogecoin Holders Are Making Money
DOGE is a top-10 cryptocurrency with a market cap of $12.4 billion. The coin is changing hands at $0.094 per data streams from CoinMarketCap (CMC).
Chain trackers also show that most DOGE holders, at 74%, have had their parts for more than a year. Meanwhile, 23% have spent most of the past year with their coins. Less than 3 per cent of dog owners have recently purchased their dog parts.
A large percentage of "addresses per holding period" have held their documents for more than a year, which means that they are confident of the project's prospects. It, in turn, reveals itself in the depth of the coin's liquidity. By cmc, doge recorded average daily trading volumes of over $670 million.
Intotheblock's parallel data show that during the last week of negotiations, more than $1.4 billion worth of transfers, each moving more than $100,000, were displaced. The whales could have opted for the Dogecoin due to its low rights and the Doge being listed in several exchanges, including the currency base.
Weathering The Crypto Storm
Dogecoin has overcome headwinds over the months, weathering through the storms of the crypto winter and still managing to be a top-10 crypto project even after dropping over 90% from peaks.
At the peak of the cryptobubble from 2020 to 2021, DOGE traded for more than $0.75. Doge hit its climax a few hours later when elon musc appeared on the daily night show.
According to her, less than 3 per cent of doge owners can be considered traders. They are addresses that come and go, probably to exchange the piece. Today, doge is strongly correlated with bitcoin, at 0.93. Consequently, at this rate, Doge tends to keep up with each time BTC prices rise.
Doge is the native currency of dogecoin, a "meme" cryptocurrency scheme. In the beginning, it was a prank, He's gotten older over the years, get Elon Musk to support him, a billionaire percentile and one of the best entrepreneurs behind technology companies such as tesla and twitter.
Elon acquired Twitter for $44 billion in late October 2022, and there were rumors of the social media giant integrating DOGE for payments. That way, Twitter would eliminate robots, most of which were led to exploit scams.
