The average US dollar investment age of Doggie Coin [MDIA] has been on the rise since June 2023. This indicator measures the average age of dollars invested in assets
The average US dollar investment age of Doggie Coin [MDIA] has been on the rise since June 2023. This indicator measures the average age of dollars invested in assets. Upward trends are usually welcomed as they indicate that investments are entering a dormant state, pointing towards holding trends.
However, if this trend persists for a long time, it often becomes worrying because it means that the network of tokens is becoming stagnant. Usually, a decrease in MDIA is a signal of upcoming price increases. Therefore, the current upward trend in this area may be one of the reasons why it is difficult for DOGE to appreciate.
The most active DOE address is in the 'break even' position
Similar to the broader crypto market, the price of Dogcoin has recently underperformed. According to VeloData data, even on the most favorable trading day, Friday, the 3-month average return of DOGE failed to exceed 1.3%. Similarly, on the worst trading day, Wednesday, the deviation does not exceed 1.46%. This trend clearly depicts how network stagnation translates into price stagnation of dog coins.
In terms of profitability, most "active" DOE investments
They have been in a state of balance of payments for the past few months, which gives them reason to remain dormant. At the beginning of June, 72% of active addresses in DOGE were in a "parity" state. For several months, the situation has not changed significantly. As of the time of publication, the reading hovered around 66.67%.
Most of the remaining addresses [32.96%] are in a loss state, with a profit of only 0.37%. Therefore, only when profitability improves will the network become more active and promote more transactions. Conversely, this will be accompanied by the influx of volatility in the DOGE market. As of press release, the trading price of DOGE is 0.0633 US dollars, which has dropped by 0.18% in the past 24 hours.
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