Dogecoin: 59% of DOGE Holders Are in Loss

Inspired by Internet meme culture, Dogecoin has made quite the splash in the crypto market recently, leading to the creation of several more animal-themed coins. Despite originating as a lighthearted joke, the surprise success of the DOGE has seen early mother lode profits for some. Unfortunately, current prices of Dogecoin bring some challenges, and analysis from IntoTheBlock indicates that nearly 59% of Dogecoin holders have gone into the red. It would appear that, of all involved, only 31% of addresses show profits.

The bright side reveals that 72% of the Dogecoin holders have been invested for over a full year. Further, 26% have had DOGE for between one month and twelve months, with the remaining two percent trading for lesser amounts of time. With a current rate of $0.05887 and a 2.30% drop in the past 24 hours, Dogecoin still has some work to do if a probable bullish cycle is in the cards.

Robert Wilson author
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