52% of Dogecoin addresses are profiting despite market decline
According to IntoTheBlock and some reports, a total of 52% of Dogecoin addresses are profiting from their investments at the current price of $0.06.
52% of Dogecoin addresses remain in profit despite the recent price drop
Currently, the In/Out of the Money indicator shows that 52% of Dogecoin addresses are making a profit, the remaining 46% of addresses are losing money and only 2% are breaking even. Compared to Bitcoin and other altcoins, Dogecoin seems to be holding up well in this respect.
Dogecoin recovered from the low of $0.04 on June 18 and recorded six out of nine days of positive price action. The bears sold near the daily 50 MA at close to $0.077 on June 27. At the time of publication, Dogecoin is changing hands at $0.067, down 4.01% over the past 24 hours and up 6 .21% in the past week.
If buyers attempt to push the price above the 50 MA at $0.077 again, DOGE can rally to $0.09 and then attempt to reach the psychological $0.1 level.
On Wednesday, Bitcoin’s price temporarily dipped below $20,000 as the market is still affected by a number of factors, such as macroeconomic troubles with crypto companies. A recession in the United States and abroad is feared as long as inflation continues to be high and central banks attempt to raise interest rates further.
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