Over 5 million Dogecoin addresses are now profitable as DOGE price surges, currently targeting $0.50. As the entire cryptocurrency market seeks a bullish recovery after a long slump, the majority of Dogecoin wallets are profitable for the first time in a while.

According to IntoTheBlock, as many as 5.21 million addresses are in profit. These wallets account for 82.66% of the total addresses in the Dogecoin ecosystem. IntoTheBlock suggests that the optimal price for this profit level is between $0.143227 and $0.150461.

Although more than 800,000 wallets are not currently profitable, analysis of current prices shows that these addresses could return to profitability if DOGE returns to the $0.183729 to $0.671001 price range. Wallets currently missing out on profits are only losing money because they refuse to sell their holdings. However, this range will keep wallets at a minimum breakeven.

Dogecoin has finally broken out of its recent slump, and following April’s red, it has gained 11% in the past 7 days, with the current price at $0.156. Its market cap is $23,035,810,127, down slightly in 24 hours, but DOGE ranks 8th among the highest cryptocurrency market caps.

The biggest question surrounding Dogecoin right now is not whether it will rebound, as it is currently doing. Instead, holders are curious about how long DOGE can maintain its current momentum. Expectations in the Dogecoin community are as high as ever, with optimism seeing DOGE reclaim the $0.5 mark in the short term.

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