Dogecoin Has Most Meme Coin Holders in Profit: How High Can Dogecoin Go?
Dogecoin is arguably the most popular meme coin of all cryptocurrencies!
According to data from IntoTheBlock, most Dogecoin holders are in profit. Of all the meme coins, DOGE has the most profitable addresses. According to the report, 72% of DOGE holders are currently in profit.
The new data is interesting considering DOGE's performance in 2024. Some meme coin analysts believe that the coin has performed poorly compared to its competitors. Shiba Inu, Floki, and other meme coins have performed very well at different points in the year.
During the crypto boom in March 2024, multiple cryptocurrencies performed extremely well, driven by Bitcoin. However, Dogecoin joined a little late and did not rise immediately. In addition, the final increase was not as high as predicted. Trading volumes remained high throughout 2024, but the asset failed to surge accordingly.
However, despite this, holders are still taking profits and will most likely not move their Dogecoin until a catalyst appears. Since this time last year, the asset has risen by more than 38% to reach the current $0.106 level. However, if a spark appears, there could be more to come. The fact that the asset faces a bearish outlook, but it could fail at $0.13, suggests that this is a critical moment. The asset must find a way above this level.
Therefore, Dogecoin holders may be about to take more profits than they have so far. The next few weeks at the end of August will be crucial for Dogecoin's near-term prospects.
