• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Dogecoin DOGE

63% Of Dogecoin Holders Are Making Money

Dalmas Ngetich by Dalmas Ngetich
4 months ago
in Dogecoin
Reading Time: 2 mins read

According to InTheBlock on-chain data, 63% of Dogecoin (DOGE) holders are profitable at spot prices. Only 35% are out of the money, while just 2% are at break even.

74% Of Dogecoin Holders Are Making Money

DOGE is a top-10 cryptocurrency with a market cap of $12.4 billion. The coin is changing hands at $0.094 per data streams from CoinMarketCap (CMC).

On-chain trackers also reveal that most, at 74%, DOGE holders have held their coins for over one year. Meanwhile, 23% have been with their coins for the better part of the last year. Less than 3% of DOGE holders recently bought their coins. 

Dogecoin Holders

Related Reading: Dogecoin Gearing To Bounce Back Against Bitcoin – Does Doge Have The Energy?

A significant percentage of “Addresses by Time Held” have held their coins for over a year, which means they are confident of the project’s prospects. This, in turn, is revealed in the coin’s liquidity depth. Per CMC, DOGE posted average daily transaction volumes exceeding $670 million. 

Parallel data from IntoTheBlock shows that over the past week of trading, over $1.4 billion of transfers, each moving more than $100,000, were moved. Whales might have opted for Dogecoin because of its low fees and DOGE being listed in several exchanges, including Coinbase.

Weathering The Crypto Storm

Dogecoin has overcome headwinds over the months, weathering through the storms of the crypto winter and still managing to be a top-10 crypto project even after dropping over 90% from peaks. 

Dogecoin Price On February 4
Dogecoin Price On February 4| Source: DOGEUSDT On Binance, TradingView

At the height of the crypto bull run of 2020 through 2021, DOGE was trading at over $0.75. DOGE reached its highs hours later when Elon Musk appeared on the Daily Night Show.

The less than 3% of DOGE holders, InTheBlock says, can be classified as traders. These are addresses that move in and out, probably trading the coin. Presently, DOGE is heavily correlated with Bitcoin, at 0.93. Therefore, at this pace, DOGE tends to follow in lockstep whenever BTC prices increase. 

Related Reading: Dogecoin Whales Move Large Amounts, Bearish For DOGE?

DOGE is the native currency of Dogecoin, a cryptocurrency “meme” project. Though it started as a joke at first, it has grown over the years, finding endorsement from Elon Musk, a centi billionaire and one of the top entrepreneurs behind technology firms like Tesla and Twitter. 

Elon acquired Twitter for $44 billion in late October 2022, and there were rumors of the social media giant integrating DOGE for payments. In this way, Twitter would eliminate bots, most of which were guided to operate scams.

Feature Image From Canva, Chart From TradingView
Tags: dogeDogecoinelon musk
Tweet123Share196ShareSend
Dalmas Ngetich

Dalmas Ngetich

Dalmas is a crypto reporter covering NFTs, blockchain, DeFi, and blockchain news for NewsBTC. He’s part of a team of talented team working on bringing latest crypto development across the board. Dalmas is also the ex-founder of btc-pulse.com, a crypto news outlet. Dalmas has over 10 years of experience covering Forex, general finance, technology, and blockchain developments. His work and that of his partners has been featured in top news outlets including investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. He’s passionate about technology and politics. When he’s not keeping tabs on crypto events, you’ll find him out in nature, exploring and traveling with family and friends. You can follow Dalmas on Twitter @Dalmas_Ngetich or ping him on Telegram @Dalmas_Ngetich

Related Posts

Dogecoin

Dogecoin Bounces Off $0.070 Mark, Awaits Breakthrough of Crucial Hurdle

4 days ago
Dogecoin cryptocurrency physical coin held between two fingers.

Elon Musk Reveals Reason Behind Dogecoin Investment, But Why Is DOGE Down?

1 week ago
Dogecoin Ordinals

Dogecoin Transaction Count Rises 60X, But Why Are Prices Down?

2 weeks ago
Dogecoin

Dogecoin Multiple Attempts At $0.10: Will The Barrier Finally Be Broken?

2 weeks ago
Shiba Inu & Dogecoin Price Chart

Dogecoin, Shiba Inu Whales Move Massive Amounts, Dumping Going On?

2 weeks ago
Dogecoin

Dogecoin Sees Highest Transactions Count Ever Due DRC20 Madness

3 weeks ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    2 days ago
  • Willing to buy new crypto: Here are the best 10...

    2 days ago
  • Best Crypto Meme Coin Presales in 2023

    2 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • $WSM Hype Peaks as the Presale Blasts Past $1.5 Million in...

    2 hours ago
  • Dogecoin Volatility Set to Erupt: Wall Street Memes and...

    2 hours ago
  • XRP to hit 5$ Dogecoin chart suggests volatility Tradecurve...

    2 hours ago
  • 5 Reasons Why SCORP Could Set the Next Crypto Trend After...

    3 hours ago
  • Stacks (STX) and Dogecoin (DOGE) Whales Add Sparklo (SPRK)...

    3 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.