The crypto world is as dynamic as it is unpredictable. If some currencies experience destabilizing shocks, others, like Dogecoin (DOGE), surprise with the resilience of their community. Indeed, despite constant volatility, 84% of DOGE holders remain in profit, an astonishing fact in a market marked by fluctuations. But how can we explain this persistent profitability? Analysis.
Dogecoin: Amazing resilience in a falling market
In recent days, the global cryptocurrency market has been facing intense challenges. Geopolitical tensions, speculation around the US elections and economic uncertainties are weighing heavily on the value of many digital assets. Dogecoin did not escape the trend, recording a drop of almost 13%.
Yet the majority of DOGE investors remain in the green. According to the analysis company IntoTheBlock, 84% of DOGE crypto holders are in profit, a surprising figure when we consider the volatility of this iconic cryptocurrency.
This phenomenon is partly explained by the early entry of many holders who bought at levels well below the current price. Even after declines, their investment remains profitable, proving the solidity of this “meme currency” in a complex environment.
Current momentum
Currently, Dogecoin is trading around $0.158, down about 2.1% over the past 24 hours. If its trading volume fell by 50%, a classic indicator of investor caution, the total trading volume increased by almost 5%.
This suggests that some bulls still see potential in DOGE to be exploited, despite the context.
The 200-day EMA (exponential moving average), a key trend indicator for traders, shows that DOGE is in a moderate bullish phase. This means that despite the current turbulence, a majority of investors maintain cautious optimism. If Dogecoin closes a daily candle above $0.163, some experts even predict a 30% rise in the coming days.
From a technical perspective, Dogecoin appears to be moving in a short-term bearish channel, which poses a challenge for the bulls. Nevertheless, DOGE still enjoys support above the 200-day EMA, a symbolic threshold for long-term investors. A close above $0.163 could well be the catalyst for the next significant rebound, with a target around $0.21.
Its attractiveness lies in its active community and its speculative potential, which allows a large number of its holders to remain profitable. Meanwhile, bitcoin is in zen mode.
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