While some currencies experience destabilizing shocks, others, like Dogecoin (DOGE), surprise with the resilience of their community.
For the past few days, the global cryptocurrency market has been facing intense challenges. Geopolitical tensions, speculative activities surrounding the American elections, and economic uncertainties weigh heavily on the value of many digital assets. Dogecoin has not escaped the trend, recording a drop of nearly 13%.
Yet, the majority of DOGE investors remain in the green. According to the analytics company IntoTheBlock, 84% of DOGE crypto holders are profitable, a surprising figure when considering the volatility of this iconic cryptocurrency.
This phenomenon can be partly explained by the early entry of many holders who bought at levels well below the current price. Even after declines, their investment remains advantageous, proving the strength of this “meme coin” in a complex environment.
Currently, Dogecoin is trading around $0.158, with a decrease of about 2.1% in the last 24 hours. While its trading volume has dropped by 50%, a classic indicator of investor caution, the total transaction volume has increased by nearly 5%.
[Source: Cointribune]
