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Majority Of Dogecoin Investors Are Still In Profit Despite 90% Drop: Here's How

Published 22/05/2022, 17:17
Updated 22/05/2022, 18:10
© Reuters Majority Of Dogecoin Investors Are Still In Profit Despite 90% Drop: Here's How

The price of Dogecoin (CRYPTO: DOGE) has been plummeting since it hit its peak in 2021. At the time of writing, it was trading at $0.08531, dropping almost 4% in the last seven days.

Dogecoin has experienced one of the worst declines in the crypto's history, falling by almost 90% from its all-time high of $0.7376 set on May 8, 2021.

Also Read: After Jeff Bezos, Elon Musk Calls Dogecoin Creator 'Wise'

However, a majority of investors in the meme coin still have their heads above water. According to IntoTheBlock data, 53% of all investors are still in profit.

IntoTheBlock also indicates that Onchain signals are bearish for DOGE, including net network growth and large transactions. Meanwhile, derivatives activity is showing a bullish sign, with positive futures market momentum.

Compared to this, only 51% of Bitcoin (CRYPTO: BTC) investors are in profit. On the other hand, Ethereum (CRYPTO: ETH) is still seeing 59% of investors in profit.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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