Expected Data Released on Dogecoin: What Percent of Addresses Are In Profit?

Dogecoin (DOGE) The number of addresses in profit has increased significantly, while the price has risen to the highest levels of recent months.

Number of Dogecoin (DOGE) Addresses in Profit Increases with Recent Rise

Profitable Dogecoin addresses jumped to 65% from a May low of 48%, according to IntoTheBlock data.

Dogecoin price rose more than 100% in its last rally, climbing from the bottom price to $0.15. The world’s largest meme token is trading at $0.1172 at the time of this writing.

DOGE has been on the rise since October 25, after news emerged that Tesla CEO Elon Musk had nearly finalized the Twitter deal.

The bulls raged as investors considered the possibility of DOGE being used as payment on social media after the successful conclusion of the Twitter deal.

Currently Dogecoin, cryptocurrency While the majority of its units have lost value in the last 24 hours, it is outperforming the top 20 in earnings.

The recent rise seems to be advantageous for DOGE “HODLers” who make up the bulk of DOGE’s total addresses.

According to data shared by IntoTheBlock, the investor rate of “HODL” holding DOGE for more than a year stands at 69%. However, the rate of investors shorter than one year was 28%, and the rate of investors less than one month was 3%.

The increase in large transactions is often associated with increased activity of institutional players or whales buying or selling. According to IntoTheBlock, these transactions exceeding $100,000 have increased 111% in the last 24 hours on the Dogecoin network.

*Not investment advice.