Dogcoin's unwavering journey: challenging market trends, rewarding long-term holders, and maintaining a stable number of holders. Can DOE quickly reach the elusive $1 milestone?Since the beginning of the upward trend, the value of dog coins has increased by approximately 19%
Dogcoin's unwavering journey: challenging market trends, rewarding long-term holders, and maintaining a stable number of holders. Can DOE quickly reach the elusive $1 milestone?
Since the beginning of the upward trend, the value of dog coins has increased by approximately 19%.
Since May, the number of holders has remained unchanged.
The value of Dogcoin has increased, consistent with the overall cryptocurrency market. Although it has not yet reached the threshold of $1, it provides something that DOGE holders can hold.
Despite the decline, Gougou Coin still maintains strong performance
From October 1st to today, the value of dog coins has increased by more than 10%, as shown in the daily schedule chart. In addition, when we examine the period from the current upward trend to the present, the value of DOGE has appreciated by over 19%.
A more in-depth analysis of its weekly trend shows that it broke through its multi-year downward triangle on October 29th. The closing gain during the day's trading session was slightly less than 1%.
As of the writing of this article, the trading price of DOGE was approximately $0.06, a decrease of less than 1%. Despite a slight decline, the asset remains firmly in a strong bullish trend.
In addition, this decline seems to have little impact on the profitability of certain DOE holders.
Dog coin holders hold 100% profit
The recent upward trend of dog coins has had a very positive impact on the profitability of some long-term holders.
According to Santiment's 180 day market value to realized value ratio (MVRV), individuals in this group hold assets that are more than 100% higher than their initial investment value.
In addition, at the time of writing, the 180 day MVRV has skyrocketed to 141%. This indicates that if such investors decide to sell their shares, it is possible to achieve a profit of over 100%.
In addition, it also indicates that they initially purchased dog coins at a price lower than the current market value.
The number of holders remains equal
Among the various upward and downward trends experienced by Dogcoin, a specific indicator has remained unchanged. A check of the total number of dog coin holders on Santiment shows that this number has remained unchanged since around May.
As of press release, the total number of holders is approximately 4.8 million, which also appeared around May.
If the current bullish trend continues, dog coins may reach a price range of $1 in the near future.
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