đ„đ„đ„ #DogecoinâŹâ© : How Many Holders Are in the Green?
Dogecoin (DOGE), the #cryptocurrency born from internet meme culture, has been a rollercoaster ride for investors in recent times. With its recent rejection from the high of $0.165, doubts arise about the profitability of $DOGE holders amidst the market's fluctuations.
At the moment, the asset is trading at $0.1441, experiencing a 3% drop from its peak on May 6. This marks a 12% decline since then, erasing much of the gains it made in March and leaving investors cautious about its future trajectory.
Yet, amid this volatility, a recent report sheds light on DOGE's investor landscape. Surprisingly, over 83% of DOGE holders find themselves in profit, according to data from IntoTheBlock. This resilience demonstrates the community's ability to navigate market swings and maintain profitability, particularly for those who entered the market before its surge to $0.16.
In comparison, DOGE surpasses its competitor, Shiba Inu ($SHIB ), in terms of profitability. While DOGE boasts an impressive 83% of HODLers in profit, SHIB lags behind with only 60% seeing gains. This contrast highlights DOGE's stronger performance and the loyalty it commands from its investor base.
Challenges and Optimism
- However, it's important to acknowledge that 13% of Dogecoin holders are currently facing losses. For these investors, the recent downturn may raise concerns, especially if they entered at the peak. Nevertheless, DOGE's historical resilience and dedicated community offer hope for a potential recovery in the future.
- Furthermore, as the market evolves, monitoring DOGE HODLers' profitability provides valuable insights into the longevity of the OG meme coin. While volatility remains a constant, the enthusiasm of the Dogecoin community serves as a testament to its growth potential.
Source - Watcher Guru
