Dogecoin is Now One of the Most Held Crypto on India’s CoinSwitch

Vignesh Karunanidhi
Dogecoin is Now One of the Most Held Crypto on India’s CoinSwitch
Source: Forbes

Dogecoin has irreplaceable community support and widespread popularity. Meme coins in general, including Shiba Inu, enjoy the same privilege.

2022 was not the best year for cryptocurrencies in general. However, Dogecoin enjoyed a bullish month when Elon Musk acquired Twitter. The rally was short-lived, as the prolonged bear market erased the majority of the gains. Despite the volatile prices, dogecoin has a separate fan base around the globe, especially in India.

According to the latest tweet from CoinSwitch, one of the largest cryptocurrency exchanges in India, Dogecoin has emerged as one of the most-held assets in 2022.

Dogecoin is the top held crypto alongside BTC and ETH

DOGE has earned its place alongside BTC and ETH as the top three held cryptocurrencies in 2022 on CoinSwitch. The meme coin has come a long way since its inception. From a standpoint of meme to its current position, DOGE has had a remarkable journey.

The latest data from IntoTheBlock reveals that 53% of the DOGE holders are in profit. It should also be brought to light that over 70% of its holders have held the coin for almost a year plus.

Source: IntoTheBlock

According to CoinMarketCap data, Dogecoin is trading at $0.703 with a 2.59% drop in value over the last 24 hours. DOGE is also down by 5.1% over the last seven days and 31.75% over the last 14 days.