Ethereum

Bitcoin

Dogecoin

Green

April

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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Despite a recent 8% price drop, <a href="https://u.today/dogecoin-doge-teeters-on-edge-of-parabolic-breakout-if-this-happens" rel="noopener noreferrer nofollow">Dogecoin </a>holders remain&nbsp;largely&nbsp;in profit, according to a&nbsp;key&nbsp;on-chain metric.
At the time of writing, DOGE was down 7% in the last 24 hours to $0.1496, mirroring the general&nbsp;sell-off&nbsp;on the markets, which saw Bitcoin plummet below the $64,000 mark.&nbsp;
According to IntoTheBlock data, a&nbsp;key&nbsp;on-chain metric is flashing green, indicating that&nbsp;the majority of&nbsp;DOGE holders remain in profit. The metric reveals that a staggering 83% of Dogecoin holders are currently in profit, highlighting the resilience and confidence of DOGE holders amid market fluctuations.
<blockquote>
 The chart below shows the percentage of holders in profit on several top layer 1 networks 👇Bitcoin remains king, with <a href="https://twitter.com/search?q=%24TRX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TRX</a> being a close second. <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DOGE</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> also have the vast majority of holders in profit. <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> stands out with only 35% of holders in profit. But is this… <a href="https://t.co/x9YwfuNIN4" rel="noopener noreferrer nofollow">pic.twitter.com/x9YwfuNIN4</a>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1783169037289042270?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 24, 2024</a>
</blockquote>
In a recent post, <a href="https://twitter.com/intotheblock/status/1783169037289042270" rel="noopener noreferrer nofollow">IntoTheBlock</a> shared a chart that shows the percentage of holders in profit on several top layer-1&nbsp;networks.&nbsp;
While <a href="https://u.today/bitcoin-price-alert-key-indicator-issues-warning-but-theres-a-catch" rel="noopener noreferrer nofollow">Bitcoin</a> and TRX have a&nbsp;larger&nbsp;chunk of their holders in profit, Dogecoin and Ethereum remain among the few layer-1 blockchains that also have the vast majority of holders in profit at 83% and 81%, respectively.&nbsp;
The&nbsp;wider&nbsp;crypto market is recording a&nbsp;sell-off, with&nbsp;the majority of&nbsp;cryptocurrencies, especially in the top 100, posting losses between 4% and 20%. Dogecoin was not exempted from the bearish action on the market, plummeting to intraday lows of $0.148 from a prior day high of $0.169.&nbsp;
Amid the price dip, the holder profitability metric has offered&nbsp;a ray of&nbsp;optimism to Dogecoin holders, as it signals that a significant majority of DOGE holders are still in the green.
Presently, Dogecoin holder profitability currently stands at 82%, per IntoTheBlock,&nbsp;a slight drop&nbsp;from the 83% highlighted above.&nbsp;
This&nbsp;suggests that&nbsp;a large portion of&nbsp;Dogecoin holders purchased their <a href="https://u.today/dogecoin-to-1-analyst-predicts-classic-doge-pattern-breakout" rel="noopener noreferrer nofollow">DOGE </a>tokens at lower price levels and are currently sitting on profits, even amid the recent market uncertainty.&nbsp;This resilience among Dogecoin holders reflects their&nbsp;strong&nbsp;conviction in the&nbsp;long-term potential of the cryptocurrency and their&nbsp;willingness to weather short-term price fluctuations.
The percentage of long-term holders, which refers to those who have held their coins for&nbsp;more than&nbsp;a year, is currently 65%, per IntoTheBlock data.

Dogecoin Spotlight: Key On-chain Metric Flashes Green Despite DOGE's 8% Drop

U_Today

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