Majority of Dogecoin (DOGE) Holders Now in Profit After Shiba Inu Rival Rallies 32% This Month: IntoTheBlock

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.”

Source: Smart Contracter/Twitter

At time of writing, the DOGE/BTC pair is changing hands for 0.00000387 BTC ($0.089), still above Smart Contracter’s support level.

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This article was originally reported on The Daily Hodl.