Dogecoin It is the most widely used meme coin among all cryptocurrencies. This meme coin has the highest market cap, and best price per coin of all meme assets. It is evident that the currency with a dog theme is gaining popularity amongst its owners. According to data, it’s the top meme coin in terms of profit for current holders.
According to IntoTheBlock data, a large majority of Dogecoin users are making profits. DOGE boasts the largest number of green addresses among meme coins. 72% DOGE owners are in profit, according to the report. It is fascinating to see how DOGE fared by 2024. Some analysts believe that DOGE has performed poorly compared with its competitors. Shiba Inu Floki and many other meme coins did very well during different points in the year.
Bitcoin played a major role in the crypto-boom of March 2024, which saw multiple currencies perform extremely well. DOGE joined the crypto boom a little late, and did not experience immediate gains. Moreover, forecasts were not accurate. Trading volumes have remained high in 2024 but the value of assets has not increased correspondingly.
Also Read: Dogecoin Gains 18% In 7 Days: Can DOGE Reclaim $0.14?
Dogecoin holders are still in the black, but they will likely not move until a catalyst happens. The asset’s value has risen by more than 38% since this time last season to its current level of $0.106. If a spark occurs, the asset could rise even higher. In light of this, the asset faces a bleak outlook. However, it can still be invalidated for $0.13. It is important that the asset finds a way to rise above this level.
DOGE’s rise to $1 could be threatened if it happens. Pseudonymous user Cryptorphic X, formerly Twitter, was the platform chosen to explore this asset’s full potential. They noted that it has the potential of 10x and is on the way to reaching the dollar level.
Dogecoin owners may have more to gain than what they currently own. This is because the dogecoins that are in circulation today may not be enough to cover all of their expenses. next The coin’s future will be bright in the weeks that close August.
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Source: watcher.guru