Dogecoin (DOGE) Makes a Comeback: More than 50% of Addresses Now Profitable
The price of Dogecoin has experienced a recovery of 40% in the past six weeks, resulting in over half of all DOGE addresses now being in a profitable state. In the last seven days, there has been a 22.3% increase in active addresses, along with a remarkable increase of around 53.28% in new addresses. However, the number of addresses without any coins has also risen by 17.47%.
Despite a decline in the number of members in the Dogecoin group on Telegram, the total number of DOGE addresses is still increasing, with an average of approximately 4.71 million DOGE addresses available in the last 30 days.
The distribution of Dogecoin ownership is encouraging, as small investors hold over a third of the tokens, while large investors hold around 20% of the supply. Large investors make up around 45% of the total tokens and are spread across ten addresses, while whales, who hold more than 1% of the token supply, account for approximately 45% of the total Dogecoin supply.
Currently, nearly 55% of Dogecoin addresses are in a profitable position, with around 36% facing a loss if they were to sell their tokens at the current market price, and approximately 9.4% at the break-even point.
Overall, the Dogecoin price has experienced a remarkable 40% recovery in the past six weeks, leading to an increase in the number of addresses that are now profitable.
It’s important to note that this article is for informational purposes only and should not be considered financial or investment advice. It’s always recommended to conduct your own research and consult with a professional before making any financial decisions.
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