Here’s how many DOGE HODLers are currently in profit

TL; DR

Dogecoin has seen a weekly price increase of 12%, largely due to Tesla adopting it as a payment method.
DOGE holders outnumber those invested in Shiba Invest (SHIB).

DOGE investment flash green

The largest meme coin in terms of market capitalization – Dogecoin (DOGE) – has been one of the best performing cryptocurrencies of late, recording a 12% weekly price increase. The exit can be attributed to EV giant Tesla which has been officially announced. Integrated The property as a payment option on the website.

According to IntoTheBlock, DOGE's rise to $0.16 benefited many holders who had previously invested in the token. The data shows that more than 83% of them with exposure Currently coin to meme sit down Of the paper surplus, only 13% is found in water.

Dogecoin significantly outperforms its biggest rival, the Shiba Inu, on that front. Approximately 60% of SHIB HODLers are currently green and 36% are sitting on paper losses.

There were many trends Different during the 2022-2023 bear market. as a Cryptopotato reported In September last year, 89% of SHIB investors and 50% of DOGE holders were underwater.

Is DOGE ready for more surgery?

Many analysts believe that DogecoinThe latest price rally could be the start of a major bull run. The famous X user Rekt Capital He said he deserved it. MemCoin has “turned a multi-year resistance to new support,” resulting in a “new macro trend.”

Crypto Catalysts was more optimistic, praising the increased daily trading volume, “weekly level recovery” and other positive elements. The analyst pointed out that DOGE's path to $1 is an important milestone Clear.

Ali Martinez also entered. Assuming that Dogecoin's price pullback seen at the end of April may have been “part of its usual behavior before a massive bull run.” He listed some situations in the past years before the token's value increased significantly.

“Now, in 2024, he has DOGE. Christmas Broken from a descending triangle again! There is currently a 47% price correction, very similar to previous cycles, which could fuel the next DOGE bull run,” Ali Martinez concluded.