The emergence of Dogecoin has been instrumental in paving the way for the current expansion of the meme coin realm. DOGE sparked the initial meme coin movement, which was followed by other meme coins, such as Shiba Inu.
The growth trajectory of Dogecoin gained significant momentum when Tesla CEO Elon Musk began endorsing it and sharing positive tweets about it. Subsequently, the price of DOGE surged with each favorable tweet from Musk.
Details from IntoTheBlock reveal that 58% of the total holders are in profit. Moreover, 8% of the holders are neutral, whereas 34% of the holders are at a loss.
Dogecoin wallet addresses enjoy profit as price spikes
One positive thing is that 75% of the holders are in it for the long term for over a year. Additionally, 21% of the holders are in for one month to 12 months, and 4% of the holders have been holding for less than a month.
At press time, Dogecoin is trading at $0.078303, with a 4.4% gain in value over the last 24 hours. For the majority of the holders to shine in profit, DOGE should exhibit an exceptional performance that can breach its previous all-time high of $0.7376.