Overview

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Many long-term holders face diminishing unrealized profits or losses, leading to potential selling if conditions do not improve. DOGE has dropped more than 59% from its Despite the ongoing decline, on-chain data suggests not all hope is lost for DOGE. Crypto analyst Ali Martinez shared Glassnode metrics indicating that long-term Dogecoin holders are in Hace 1 día DOGE dropped from $0.226 to $0.202, a sharp 10.6% decline. The most intense selling came at midnight (), with a 5.5% plunge on exceptional volume. Key resistance Despite this price decline a significant 84% of DOGE holders remain profitable, according to data from the on-chain analytics firm IntoTheBlock. Additionally Following the removal of the iconic Doge meme from Elon Musk’s Twitter in place of the classic blue bird, a price correction was in store for the original meme coin. Yet According to U.Today, despite a recent 8% drop in price, the majority of Dogecoin holders are still in profit, as indicated by a key on-chain metric. At the time of writing

Dogecoin Decline Not a Hindrance: Most DOGE Holders Still in Profit

Despite recent volatility and price corrections, the Dogecoin community remains resilient. While the meme coin has experienced a downturn, on-chain data reveals a surprising truth: the majority of DOGE holders are still sitting on profits. Is the Dogecoin decline a reason to panic? Absolutely not for most!

DOGE Holders Staying Strong

According to U.Today, despite a recent 8% drop in price, the majority of Dogecoin holders are still in profit, as indicated by a key on-chain metric. At the time of writing, a significant 84% of DOGE holders remain profitable, according to data from the on-chain analytics firm IntoTheBlock. This suggests a strong base of long-term believers who are weathering the storm.

Dogecoin's Price Fluctuations and Market Sentiment

Following the removal of the iconic Doge meme from Elon Musk’s Twitter in place of the classic blue bird, a price correction was in store for the original meme coin. Yet, despite this price decline, on-chain data suggests not all hope is lost for DOGE. The resilience of DOGE holders underscores the unique dynamics within the Dogecoin market. DOGE has dropped more than 59% from its highs, but many have been in since the early days.

Long-Term Holders and Potential Selling Pressure

It's important to acknowledge that the current market conditions are not uniform for all Dogecoin investors. Many long-term holders face diminishing unrealized profits or losses, leading to potential selling if conditions do not improve. Crypto analyst Ali Martinez shared Glassnode metrics indicating that long-term Dogecoin holders are in a varying state of profitability. This highlights the importance of monitoring market trends and exercising caution.

Recent Price Drop and Key Resistance Levels

Hace 1 día DOGE dropped from $0.226 to $0.202, a sharp 10.6% decline. The most intense selling came at midnight (), with a 5.5% plunge on exceptional volume. Key resistance levels will need to be broken for Dogecoin to regain its previous momentum. Investors should keep a close eye on these levels to assess potential future price movements.

Conclusion: Dogecoin's Future Remains Uncertain, But Holders are Resilient

While the Dogecoin decline is undeniable, the fact that most holders are still in profit paints a picture of resilience and continued belief in the meme coin's potential. While some long-term investors might face pressure to sell, the strong base of profitable holders suggests that Dogecoin is far from over. Keep monitoring the market and invest responsibly.

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