If the price of DOGE falls to the $0.745 per token level, more than 101,270 Dogecoin addresses run the danger of losing their investments. Data from the crypto intelligence portal IntoTheBlock show that this is the case.
The greatest of the clusters near the current Dogecoin price of $0.79, about 37.2 billion DOGE were purchased there, according to the statistics, between $0.745 and $0.786. Additionally, assuming the data is accurate, this amount, or $74.38 billion DOGE, represents approximately half of all Dogecoin purchases made to date.
A fall that started last Wednesday at $0.941 per Dogecoin resulted in the loss of almost 40 billion DOGE. The distribution of this book spans more than 594,000 addresses. On this wave of fall, DOGE has lost about 13% of its value. The price action of the token was made very dramatic by Elon Musk’s Starship super-heavy rocket from SpaceX exploding.
Dogecoin is now a cryptocurrency asset that makes more money than it loses. As a result, 2.41 million addresses, or 53.72 percent of the total, are addresses that have DOGE as payment. Given that more than half of the coins are currently profitable but might turn red, as was previously stated, the ratio is plainly precarious.
Given the abrupt shift in trend and emotion on the crypto market, it is unclear what will happen next.
