Summary
85% of Dogecoin holders are in a profitable position, but there is a reluctance to sell. Crypto exchanges are seeing increased withdrawals despite gains. The Dogecoin network is growing, but there has been a recent slight downturn in activity. Major investors and whale addresses own a significant portion of Dogecoin, while smaller-scale investors hold a smaller percentage of the total supply.
Key Points
1. 85% of Dogecoin addresses are currently in profit, with only 12% in the loss zone and approximately 3.3% at the break-even point.
2. Despite profitable positions, there has been a notable trend of increased withdrawals from crypto exchanges, signaling a bullish sentiment.
3. The Dogecoin network has seen renewed growth with an average of 6.3 million DOGE addresses holding a balance, but there has been a slight downturn in network activity recently.