Here’s How Many DOGE HODLers Are Profiting Right Now

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Here’s How Many DOGE HODLers Are Profiting Right Now


TL;DR

• dogecoin saw a 12% weekly increase in value, which was largely attributed to Tesla adopting it as a payment method.
• Profits for DOGE holders are increasing and significantly outpacing the number of those investing in Shiba Inu (SHIB).

DOGE Investments Flash Green


Dogecoin (DOGE), the largest meme coin in terms of market cap, has been among the best-performing cryptocurrencies recently, posting a weekly price increase of 12%. Its rise can be officially attributed to EV giant Tesla. Unified offers the asset as a payment option on its website.

DOGE Price, Source: CoinGecko

According to IntoTheBlock, DOGE’s rise to almost $0.16 benefited multiple token holders who had previously invested in the token. Data shows that more than 83% of them with exposure to meme money right now to sit While it’s making a profit on paper, only 13% is underwater.

Dogecoin significantly outperforms its biggest rival, shiba inu, on this front. As of now, around 60% of SHIB holders are in the green, while 36% are sitting on paper losses.

Trends were much more It’s different in the 2022-2023 bear market. Like CryptoPotato reported In September last year, 89% of SHIB investors and nearly 50% of DOGE holders were underwater.

Is DOGE Ready for Further Upside?


Many analysts believe DogecoinThe recent revival in prices could be the beginning of a major bull run. Popular X user Rekt Capital requested meme said that the coin “turned multi-year resistance into new support,” resulting in a “new Macro Uptrend.”

Crypto Catalysts were even more optimistic, praising the increased daily trading volume, “recovery of the weekly level” and other positive elements. The analyst suggested that DOGE’s path to the $1 milestone is as follows: clear.

Ali Martinez also attended to assume He said Dogecoin’s price decline observed in late April could be “part of its usual behavior before the big bull run.” He outlined some cases in recent years where token valuations suddenly dropped before rising exponentially.

“Now, in 2024, DOGE yet It broke from the descending triangle again! “It is currently going through a 47% price correction, very similar to previous cycles, and this could spark the next DOGE bull run,” Ali Martinez said.

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