coinspress.com
According to a prominent analytics firm, investors have accumulated billions of Dogecoin (DOGE) with the intention of holding onto it for an extended period.
As per IntoTheBlock, individuals who have held DOGE for more than a year, known as “hodlers,” now have possession of 44.8 billion DOGE, valued at over $3.76 billion.
The amount of DOGE held by long-term investors is the highest it has been since October 2021, when the token was priced at approximately $0.30.
Since the beginning of 2022, the number of DOGE hodlers has been steadily increasing, with 3.18 million addresses holding the cryptocurrency, which makes up 74.66% of all DOGE wallets.
The increase in DOGE’s count of long-term holders coincides with the recent price surge of the memecoin, which increased from $0.071 to $0.085 in a week, or almost 20%.
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Currently, 61% of DOGE investors are making a profit, while 34% are losing money, and only 5% are breaking even. DOGE is now trading at $0.084 with a 24-hour trading volume of $943 million.