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

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

According to a leading analytics firm, the majority of Dogecoin (DOGE) holders are now seeing gains following the cryptocurrency’s strong performance this month. 

According to IntoTheBlock, 62% of Dogecoin owners are in the black, 36% are losing money, and 2% are breaking even. 

This month, the top Shiba Inu (SHIB) competitor has seen bullish price action, rallying from the 2023 open of $0.068 to its current price of $0.090, representing gains of more than 32% in about three weeks. 

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

According to IntoTheBlock, 73% of DOGE owners have held the leading meme coin for more than a year, while only 3% have purchased Dogecoin in the last month. Approximately 24% of DOGE holders have held the asset for less than a year but longer than a month. 

Smart Contractor, a well-known crypto strategist, is also keeping a close eye on Dogecoin. After completing an ABC corrective move on the three-day chart and retesting a previous resistance area as support, the analyst tells his 219,100 Twitter followers that the meme asset looks interesting in its Bitcoin pair (DOGE/BTC).

DOGE/BTC is trading at an intriguing [three-day] level right now. “If you believe the bottom has been reached, DOGE is never a bad bet.” At the time of writing, the DOGE/BTC pair is trading for 0.00000387 BTC ($0.089), which is still higher than Smart Contractor’s support level.

 

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