The world’s largest meme cryptocurrency, Dogecoin (DOGE), has been making rounds for its recent crash. The meme coin was one of the top performers of 2024. The asset went from trading at a low of $0.08083 all the way to a high of $0.4835 during this period. But this trend was interrupted as DOGE came crashing down to a low of $0.1315. While the asset struggles to perform, a recent report highlighted how a large number of DOGE holders were pocketing notable gains.
Also Read: This Asset May Outlive The US Dollar: Bitwise Strategy Head
A Look At Dogecoin’s Current Price Chart
Dogecoin was enduring a major downfall similar to the rest of the market. According to recent data, the asset dipped by nearly 6% throughout the past 24 hours. At the time of writing, DOGE was trading at $0.1455. The meme coin started the month at a high of $0.17 but failed to maintain momentum.
Despite the latest crash, Glassnode claims that certain assets continue to make a profit on the majority of their supply. The on-chain analytics platform highlighted both low-cost and high-profit cryptocurrency assets in a tweet. At 50.8%, Dogecoin was in the middle of the range, with more than half of its supply remaining above water. The total amount of coins in a network that is lucrative right now, that is, whose price is higher than when they were last moved, is referred to as the “supply in profit”. With almost equal incentives to sell or keep, a profit margin of 50.8% for Dogecoin may indicate a neutral investor base.
Also Read: JP Morgan & Goldman Sachs Warn of 6 Market-Crushing Rate Cuts
April 2025 Prediction
The next few days are expected to be extremely bullish for the meme coin. According to data from CoinCodex, DOGE is all set to record a rise of 145% during the coming days. The meme coin will surge to a high of $0.3617 making a notable spike.
Also Read: Shiba Inu for Retirement: How Much Fresh SHIB Did You Need for $2M Now?
Credit: Source link