Dogecoin (DOGE) might be seeing an immediate price drop, but it is arguably one of the most profitable digital currencies right now. Data from the cryptanalysis platform IntoTheBlock (ITB) pegs the profitability of DOGE at exactly 83.12%.
Dogecoin (DOGE) might be seeing an immediate price drop, but it is arguably one of the most profitable digital currencies right now. Data from the cryptanalysis platform IntoTheBlock (ITB) pegs the profitability of DOGE at exactly 83.12%.
Dogecoin addresses profitability prospects
This profitability figure pegs the total profitable addresses at 5.24 million, with the average maximum profit price set at $0.149375. These profitable addresses came shortly after Dogecoin surpassed the five million milestone.
Mushumir to the fullestWhen properly examined, the addresses at breakeven or those with no profits or losses amount to 223,680, or 3.55% of the network’s total.
Addresses with losses stand at 841,370 or 13.34%, which is comparatively lower than many of its rivals in the market. In comparison, Shiba Inu has more than 34.9% of its total network addresses in losses.
A unique resilience factor attributable to Dogecoin is its ability to reverse long-term unfavorable situations. The pioneering meme coin has seen its price drop up 3.88% in 24 hours to $0.1595 to court the overall brand. To cross the breakeven price of $0.160814, Dogecoin would have to skyrocket by approximately 10%.
This is an easier feat considering that the dog-themed meme coin was relatively bullish last week where it recorded an increase of around 5%.
Kabosu tribute coin meme
Dogecoin maintains its legacy as the first and largest meme coin by market cap. However, the real dog that inspired its creation, Kabosu, passed away, drawing condolences from the broader crypto ecosystem.
Gamza KhanzadaevWhile this may not directly affect DOGE’s valuation, the close ties to Kabosu send an important message that the biggest meme coin is Dogecoin. This, in the long term, can generate more capital in the ecosystem and generate a significant boost in the profitability of the addresses.
