Majority of Dogecoin (DOGE) Holders Now in Profit After Shiba Inu Rival Rallies 32% This Month: IntoTheBlock

A major analytics firm shows that the majority of Dogecoin (DOGE) holders are profitable after a strong performance this month.

into the block make clear It shows that 62% of Dogecoin holders are on the green, 36% are nursing losses and 2% are at breakeven.

Shiba Inu (SHIB)’s top competitor has witnessed a bullish move this month, rising from its 2023 opening price of $0.068 to its current price of $0.090, up more than 32% in nearly three weeks. increase.

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

IntoTheBlock also reveals that while 73% of DOGE holders have held a major meme coin for over a year, only 3% have purchased Dogecoin in the last month. About 24% of DOGE holders have owned assets for less than a year and for more than a month.

Smart Contracter, a popular cryptocurrency strategist, is also eyeing Dogecoin. The analyst told his 219,100 Twitter followers after completing his ABC correction move on the 3-day chart and retesting the previous resistance area as support, that the memetic asset had risen to the bitcoin pair (DOGE/BTC ) looks interesting.

DOGE/BTC is pretty interesting [three-day] level here. DOGE isn’t a bad bet if you think you’ve bottomed out.

At the time of writing, the DOGE/BTC pair is trading at 0.00000387 BTC ($0.089), still above the smart contract support level.

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