More than 85% of Dogecoin holders have seen a positive return on their investment in the Shiba Inu-themed cryptocurrency following the token’s rally earlier this week, according to new data.

Dogecoin is trading at nearly $0.166 as of this writing, up 49% over the last month, CoinGecko data shows. That’s still 77% less than the token’s all-time high price of just above $0.73 set in May 2021.

Nevertheless, some 86% of Dogecoin (DOGE) holders are in the green, meaning the token’s present price exceeds those at which the majority of its investors bought their holdings, IntoTheBlock’s data shows. Another 11% of the token’s holders have lost money on their investments, while three percent of holders have broken even, however.

The canine-inspired meme coin, founded in 2013, has a market capitalization of more than $24 billion, with most of its investors holding the token for relatively long periods of time.

Roughly two-thirds of Dogecoin holders have held the meme coin for more than one year, according to IntotheBlock’s data. Meanwhile, 31% have had the cryptocurrency in their possession for under a year, while 2% held the token for under a month, the same data shows.

Go to Source to See Full Article
Author: Liz Napolitano