Henry Kanapi
A leading analytics firm says tens of billions of Dogecoin (DOGE) are now in the possession of investors who plan to hold the crypto asset for the long haul.
IntoTheBlock shows that hodlers, or entities that have held the crypto asset for over a year, now control 44,800,000,000 DOGE worth over $3.76 billion at time of writing.
According to the analytics firm, the supply currently held by long-term DOGE holders is at its highest level since October 2021 when Dogecoin was trading at around the $0.30 price level.
The market intelligence platform also reveals that the population of long-term DOGE investors has been steadily rising since the start of the year.
Per IntoTheBlock, the number of DOGE hodlers now stands at a new all-time high of 3.18 million addresses with the investor cohort representing 74.66% of all Dogecoin wallets.
The rise in the count of long-term DOGE holders comes as the leading memecoin flashes signs of life over the last few days. Dogecoin rallied from a weekly low of $0.071 on March 28th to a high of $0.085, marking an increase of nearly 20%.
With the latest Dogecoin rally, IntoTheBlock shows that 61% of DOGE holders are in profit, while 34% are in the red with only 5% breaking even.
At time of writing, DOGE is trading for $0.084
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Featured Image: Shutterstock/tunnelmotions/MrArtHit
