Dogecoin’s Recent Rally Sparks Increase in Long-Term Hodlers
According to a prominent analytics firm, investors have accumulated billions of Dogecoin (DOGE) with the intention of holding onto it for an extended period.
As per IntoTheBlock, individuals who have held DOGE for more than a year, known as “hodlers,” now have possession of 44.8 billion DOGE, valued at over $3.76 billion.
The amount of DOGE held by long-term investors is the highest it has been since October 2021, when the token was priced at approximately $0.30.
Since the beginning of 2022, the number of DOGE hodlers has been steadily increasing, with 3.18 million addresses holding the cryptocurrency, which makes up 74.66% of all DOGE wallets.
The increase in DOGE’s count of long-term holders coincides with the recent price surge of the memecoin, which increased from $0.071 to $0.085 in a week, or almost 20%.
READ MORE: Bitcoin Price Rally in April? Analyst Weighs In on Potential Breakout
Currently, 61% of DOGE investors are making a profit, while 34% are losing money, and only 5% are breaking even. DOGE is now trading at $0.084 with a 24-hour trading volume of $943 million.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
