Despite the many difficulties that have affected investments, those who own Dogecoin (DOGE) have generally seen positive returns, as reported by IntoTheBlock, a top-tier blockchain analytics firm.
Today, IntoTheBlock reported in a tweet that even during difficult market conditions, the proportion of Dogecoin traders who are in profit rarely falls below 40%. The last time the amount of those with losses exceeded 60% was during the bear market of 2015. This is unlike other altcoins, which almost always experience more than 90% losses when the market slumps.
The intelligence platform provided a chart to support these assertions. The data from the graph showed a considerable surge in the amount of money that DOGE holders earned as a percentage from January 2021 to June 2021 when the asset reached its peak value of $0.73.
Despite the fact that the proportion of people who are making a profit from holding DOGE has been on a downward trend, it is still above 40%. According to the most recent statistics, 57% of DOGE holders have made a profit at its current value of $0.08, with 3% breaking even.
IntoTheBlock reports that three quarters of holders obtained their assets more than a year ago, while a third acquired them between one and twelve months ago.
Opinions of DOGE are still mostly positive
This statistic demonstrates the steadfastness of DOGE investors in spite of the current market instability. Even though social activity has dropped since the start of 2021, followers are still highly involved in the project. According to Lunar Crush, DOGE was one of the top 5 assets regarding social interactions during last month.
Coins. Ph, a well-known crypto exchange from the Philippines, recently announced that it is introducing DOGE to its Coins Pro platform, thereby permitting people to trade DOGE against the Philippine Peso (PHP).
Unstoppable Domains, a prominent domain name company, recently declared that customers can now purchase Domain names with DOGE. This news came shortly after billionaire Elon Musk proclaimed his support for the “Doge” meme coin. Santiment data also reported that optimistic sentiment on DOGE had reached an all-time high three weeks ago identical to the levels seen in October 2022.
