{"id":606811,"date":"2024-05-07T23:00:00","date_gmt":"2024-05-07T23:00:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=606811"},"modified":"2024-05-06T18:30:49","modified_gmt":"2024-05-06T18:30:49","slug":"dogecoin-on-the-rise-over-5-million-wallets-now-profitable-as-potential-surge-looms","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/dogecoin\/dogecoin-on-the-rise-over-5-million-wallets-now-profitable-as-potential-surge-looms\/","title":{"rendered":"Dogecoin on the Rise: Over 5 Million Wallets Now Profitable As Potential Surge Looms"},"content":{"rendered":"

So far, Dogecoin has emerged as a significant player among the largest altcoins, exhibiting signs of a strong comeback, particularly highlighted by the recent profitability of numerous wallet addresses.<\/p>\n

A Surge In Dogecoin Profitable Addresses<\/h2>\n

Recent data<\/a> from IntoTheBlock reveals a notable uptick in the profitability of Dogecoin addresses. Of the myriad wallets in the Dogecoin ecosystem, roughly 82.66%, representing approximately 5.21 million addresses, are currently profitable.<\/p>\n

Related Reading: Dogecoin Breaks Out Of Descending Triangle Like It Did In 2021, Analyst Sets $6 Target<\/a><\/div>\n

According to data from IntoTheBlock, the profitability price range remains between $0.143 and $0.150.<\/p>\n

\"Dogecoin
Dogecoin addresses metrics. | Source: IntoTheBlock<\/a><\/figcaption><\/figure>\n

Conversely, a smaller segment of the network, about 13.5% or 850,400 addresses, remains in the red. These addresses are positioned to turn profitable<\/a> if Dogecoin’s market price is between $0.183 and $0.671.<\/p>\n

An intriguing midpoint exists where approximately 3.83% of addresses, totaling 241,340, will break even if prices reach between $0.150 and $0.167.<\/p>\n

DOGE’s Market Dynamics And Future Prospects<\/h2>\n

Despite the positive sentiment, Dogecoin’s journey is not devoid of challenges and speculative dynamics. The meme coin, often buoyed by social media trends and celebrity endorsements, particularly from figures like Elon Musk, is gaining traction<\/a> through technical milestones and broader ecosystem developments.<\/p>\n

Analytical experts like Ali have pointed out significant patterns on Dogecoin’s charts<\/a> that echo its historical rallies. Notably, Ali identifies a recurring descending triangle breakout akin to those seen before substantial price surges in 2017 and 2021.<\/p>\n

Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges<\/a><\/div>\n

If historical patterns hold true, Dogecoin might revisit its all-time high and\u00a0potentially exceed it, with targets set ambitiously at $1.2 and even $6 in the ongoing bull cycle.<\/p>\n

\n

Now, in 2024, #DOGE<\/a> has yet again broken out of a descending triangle!<\/p>\n

It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next $DOGE<\/a> bull run! pic.twitter.com\/ZmuHmvIwei<\/a><\/p>\n

\u2014 Ali (@ali_charts) May 1, 2024<\/a><\/p><\/blockquote>\n

Furthermore, sentiments from market analysts like Altcoin Sherpa reinforce the bullish outlook<\/a> for Dogecoin. Sherpa’s analysis, based on long-term consolidation phases and current market positioning, suggests that Dogecoin could outperform other cryptocurrencies significantly this year. Sherpa noted<\/a>:<\/p>\n

DOGE is looking good. I strongly feel like this is going to be a strong coin for 2024. I think averaging between $.12 and $.14 would be a solid play and this one should outperform many other tokens for a lot of reasons. It chopped for almost 2 years, it\u2019s going to moon later.<\/p><\/blockquote>\n

Meanwhile, Dogecoin’s price has recently experienced a notable uptick, rising over 10% in the past week. However, in the last 24 hours, it has slightly declined by 2.4%, trading at $0.155 at the time of writing.<\/p>\n

\"Dogecoin
Dogecoin price is moving sideways on the 4-hour chart. Source: DOGE\/USDT on TradingView<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

So far, Dogecoin has emerged as a significant player among the largest altcoins, exhibiting signs of a strong comeback, particularly highlighted by the recent profitability of numerous wallet addresses. A Surge In Dogecoin Profitable Addresses Recent data from IntoTheBlock reveals a notable uptick in the profitability of Dogecoin addresses. Of the myriad wallets in the Dogecoin ecosystem, roughly 82.66%, representing approximately 5.21 million addresses, are currently profitable. Related Reading: Dogecoin Breaks Out Of Descending Triangle Like It Did In 2021, Analyst Sets $6 Target According to data from IntoTheBlock, the profitability price range remains between $0.143 and $0.150. Conversely, a smaller segment of the network, about 13.5% or 850,400 addresses, remains in the red. These addresses are positioned to turn profitable if Dogecoin’s market price is between $0.183 and $0.671. An intriguing midpoint exists where approximately 3.83% of addresses, totaling 241,340, will break even if prices reach between $0.150 and $0.167. DOGE’s Market Dynamics And Future Prospects Despite the positive sentiment, Dogecoin’s journey is not devoid of challenges and speculative dynamics. The meme coin, often buoyed by social media trends and celebrity endorsements, particularly from figures like Elon Musk, is gaining traction through technical milestones and broader ecosystem developments. Analytical experts like Ali have pointed out significant patterns on Dogecoin’s charts that echo its historical rallies. Notably, Ali identifies a recurring descending triangle breakout akin to those seen before substantial price surges in 2017 and 2021. Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges If historical patterns hold true, Dogecoin might revisit its all-time high and\u00a0potentially exceed it, with targets set ambitiously at $1.2 and even $6 in the ongoing bull cycle. Now, in 2024, #DOGE has yet again broken out of a descending triangle! It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next $DOGE bull run! pic.twitter.com\/ZmuHmvIwei \u2014 Ali (@ali_charts) May 1, 2024 Furthermore, sentiments from market analysts like Altcoin Sherpa reinforce the bullish outlook for Dogecoin. Sherpa’s analysis, based on long-term consolidation phases and current market positioning, suggests that Dogecoin could outperform other cryptocurrencies significantly this year. Sherpa noted: DOGE is looking good. I strongly feel like this is going to be a strong coin for 2024. I think averaging between $.12 and $.14 would be a solid play and this one should outperform many other tokens for a lot of reasons. It chopped for almost 2 years, it\u2019s going to moon later. Meanwhile, Dogecoin’s price has recently experienced a notable uptick, rising over 10% in the past week. However, in the last 24 hours, it has slightly declined by 2.4%, trading at $0.155 at the time of writing. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":518171,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[134,6664,1785,92231,89745,7,79600],"class_list":["post-606811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-altcoin","tag-crypto","tag-doge","tag-doge-analysis","tag-doge-prediction","tag-dogecoin","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin on the Rise: Over 5 Million Wallets Now Profitable as Potential Surge Looms<\/title>\n<meta name=\"description\" content=\"So far, Dogecoin has emerged as a significant player, among largest altcoin exhibiting signs of a robust comeback, particularly highlighted...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin on the Rise: Over 5 Million Wallets Now Profitable As Potential Surge Looms","url":"http:\/\/ktsl888.com\/news\/dogecoin\/dogecoin-on-the-rise-over-5-million-wallets-now-profitable-as-potential-surge-looms\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/dogecoin\/dogecoin-on-the-rise-over-5-million-wallets-now-profitable-as-potential-surge-looms\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Dogecoin-1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Dogecoin-1.png?fit=350%2C250"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","doge","doge analysis","doge prediction","dogecoin","dogeusdt"],"dateCreated":"2024-05-07T23:00:00Z","datePublished":"2024-05-07T23:00:00Z","dateModified":"2024-05-07T23:00:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin on the Rise: Over 5 Million Wallets Now Profitable As Potential Surge Looms\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dogecoin\\\/dogecoin-on-the-rise-over-5-million-wallets-now-profitable-as-potential-surge-looms\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dogecoin\\\/dogecoin-on-the-rise-over-5-million-wallets-now-profitable-as-potential-surge-looms\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Dogecoin-1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Dogecoin-1.png?fit=350%2C250\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"doge\",\"doge analysis\",\"doge prediction\",\"dogecoin\",\"dogeusdt\"],\"dateCreated\":\"2024-05-07T23:00:00Z\",\"datePublished\":\"2024-05-07T23:00:00Z\",\"dateModified\":\"2024-05-07T23:00:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Dogecoin-1.png?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/606811"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=606811"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/606811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/518171"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=606811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=606811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=606811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}