55% of Dogecoin holders are in profit: Report

The majority of the Dogecoin holders are still in profit with their Dogecoin holdings. 

Dogecoin is a popular meme coin, which took birth without any use case. This coin was launched in 2013 by Billy Markus and Jackson Palmer. After launch, this coin grabbed 1million visitors on its website, which was a big record for any crypto project. 

According to the Available data at IntoTheBlock, a crypto analytic platform, 55% of Dogecoin holders are in profit while 42% of holders sold their buying at loss. 

66% of holders of Dogecoin are wealthy Investors, who invested in big amounts. It shows that small-budget traders are less interested in Dogecoin than wealthy traders.

This situation is not much worse for this coin, compared to last week’s situation. 

According to the past data on Dogecoin, around 40,000 Dogecoin holders exited from doge trade and left a big negative impact on trust in Dogecoin. 

In the last 10-14 days, around 700k crypto investors left the Dogecoin vehicle. 

These data are not part of the usual performance and usual crypto trading activities because wise crypto investors entered into Dogecoin investment for a short period due to Elon Musk’s Twitter acquisition news.

At present, Dogecoin is down by around 70% from its all-time high. 

Now Elon Musk & Twitter hype is almost over and also no big plans are under schedule, so here there are lots of chances that doge may face significant downfall in near weeks.

The current price of Dogecoin is $0.125 and this price, doge is 2.9% down over the last 24 hours.

Read also: 90% of Central Banks are engaged in CBDCs