Majority of Dogecoin (DOGE) investors in profit despite ongoing volatility

While the cryptocurrency market is showing uncertainty following the recent bear market, data shows that most Dogecoin (DOGE) holders are seeing profits.

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According to IntoTheBlock:73% of Dogecoin investors are enjoying profits at the current price of $0.1084.

This means that individuals purchased altcoins at a lower value.

Meanwhile, 26% are suffering losses, with 1% of Dogecoin holders breaking even.

The original meme cryptocurrency has faced significant price volatility as the recent downturn has given the bears the upper hand.

Dogecoin has plummeted by over 25% and 13% in the past month and week, reflecting a bearish trend.

The ninth largest digital coin has a market capitalization of $15.71 billion.

Meanwhile, IntoTheBlock showed that whales control 62% of Dogecoin’s supply.

While many small investors hold DOGE, larger investors can have a greater influence on market trends.

Dogecoin whales have been making significant trades throughout the market developments and influencing the coin’s price.

For example, following recent record-high liquidations in the cryptocurrency market, we transferred over 400 million tokens.

These entities also moved billions of dollars in DOGE assets as the meme crypto sector was in uproar following Donald Trump’s conviction.

DOGE Mixed Indicator

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As most Dogecoin investors make profits, Coinglass reveals key signals. data This indicates that some players believe the altcoin will fall.

The contrast between the positions of profitable holders and traders places DOGE as an unusual case.

Multiple investors looking to make profits could spark a further bull run in altcoins.

More individuals tend to purchase assets when others are making money.

Nonetheless, Coinglass indicates that some players are holding negative positions, making it difficult to predict DOGE’s imminent move.

Additionally, the large control held by whale investors makes Dogecoin’s future difficult to predict.

Any move by large holders could significantly change the course of DOGE.

Dogecoin current price trend

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DOGE has fallen about 1% over the past day and is trading at $0.1084.

DOGE 1D chart on Coinmarketcap

While the bears appear to have the upper hand, the token’s current outlook shows a mixed trajectory.

The sheer number of investors making profits is likely to increase optimism among market participants, leading to further growth.

Nonetheless, the bearish stance of some Dogecoin traders and the prominent whale influence have raised concerns.

A wide range of market sentiments will likely shape DOGE’s trajectory in the coming sessions.

Some analysts believe we may be nearing the start of altcoin season.

Michael van de Poppe revealed that the altcoin market cap is seeking support at key levels, and if it can maintain such momentum this week, it could be a sign that a recovery is on the way.


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