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IntoTheBlock specialists report that a total of 52% of Dogecoin addresses are making a “profit” on their investment at the current price of $0.06.
This comes despite Dogecoin being nearly 90% below its May 2021 peak of roughly $0.73.
IntoTheBlock In/Out of the Money publishes the percentage of addresses that make a profit (in the money), break even (in the money), or lose money (out of the money) on their positions at the current price. The In/Out of the Money indicators also take into account the unrealized profits and losses of addresses that currently hold cryptocurrency.
Currently, this indicator shows that 52% of Dogecoin addresses are profitable, 46% of the remaining addresses are at a loss, and 2% have broken even. Compared to bitcoin and other altcoins, Dogecoin performs well in this regard.
On June 18, Dogecoin rebounded from a low of $0.04 and recorded six of nine days of positive price movement. On June 27, the bears were selling near the daily MA 50 at about $0.077. At press time, Dogecoin was trading at $0.068, reflecting a -0.6% loss in the last 24 hours and a 1.7% gain in the last week (data from CoinGecko).
If the buyers try again to push the price above the MA 50 to the $0.077 level, DOGE could rise to $0.09 and then try to reach the psychological level of $0.10.
#account #decline #profit #DOGE #addresses
