- January 25, 2023
- Posted by: MasterAdmin
- Category: The Daily Hodl
A leading analytics firm shows that the majority of Dogecoin (DOGE) holders are now seeing gains after its strong performance this month.
IntoTheBlock reveals that 62% of Dogecoin owners are in the green with 36% nursing losses and 2% breaking even.
The top Shiba Inu (SHIB) competitor is witnessing bullish price action this month, rallying from a 2023 open of $0.068 to its current price of $0.090, marking gains of over 32% in about three weeks.
Despite this month’s bounce, DOGE is still down more than 87% from its all-time high, which it hit in May 2021.
IntoTheBlock also reveals that 73% of DOGE owners have held the leading meme coin for more than a year, while only 3% have bought Dogecoin over the last month. About 24% of DOGE holders have owned the asset for less than a year but more than a month.
Popular crypto strategist Smart Contracter is also keeping a close eye on Dogecoin. The analyst tells his 219,100 Twitter followers that the meme asset looks interesting in its Bitcoin pair (DOGE/BTC) after completing an ABC corrective move on the three-day chart and retesting a previous resistance area as support.
“DOGE/BTC is at a pretty interesting [three-day] level here. If you think the bottom is in, DOGE is never a bad bet.”
At time of writing, the DOGE/BTC pair is changing hands for 0.00000387 BTC ($0.089), still above Smart Contracter’s support level.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Featured Image: Shutterstock/MrArtHit