Dogecoin (DOGE) Officially Becomes Most Profitable Major Meme Coin
Release: 2024/08/14 00:24 Reading: 821
Dogecoin Dominates as Most Profitable Meme Cryptocurrency
Dogecoin (DOGE) has emerged as the unparalleled king of profitable meme cryptocurrencies among those boasting market capitalizations exceeding $1 billion. As per data from IntoTheBlock, DOGE boasts the highest "in/out of the money" ratio, with 72.64% of addresses holding profits.
Profitable Addresses and Holdings
This translates to 4.65 million addresses housing 70.3 billion DOGE, equating to approximately $7.39 billion. Consequently, 48.3% of Dogecoin's total market capitalization resides in profitable territory.
Comparative Advantage
DOGE's closest rival in this arena, Floki Inu (FLOKI), trails significantly with 70.49% profitable addresses and $965.2 million worth of tokens held.
Dogecoin's Price Trajectory
Dogecoin's profitability surge is not attributed to its decade-long existence but rather to recent price action. Since年初, DOGE has witnessed a 40% price hike.
At its zenith, it peaked at a staggering 208% gain, albeit subsequent corrective waves have shaved off these highs. Yet, in the past two days, DOGE has rallied by 4.66% to its current price of $0.105.
Market Outlook
Should Dogecoin replicate its previous historic highs, it will further cement its position as the most lucrative major meme coin. Regardless, its dominance as the ruler of the meme ecosystem remains unchallenged.
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