Dogecoin, just like the broader market, has seen a slowdown in price in recent times. However, the meme coin remains one of the most profitable for investors given its high profitability. This could be related to the fact that the larger majority of DOGE holders are choosing to hold their coins for a longer time.

According to data from IntoTheBlock, the majority of Dogecoin holders are still in profit. It currently works out to 59% of all holders who are seeing a profit on their investments compared to 36% of investors who are seeing a loss. The remaining 4% of investors are sitting in neutral territory, which means the current price of the digital asset is the same as where they purchased their tokens at.

One factor that could explain the high profit margins of these investors is that more DOGE investors are long-term holders. Presently, a total of 75% of all wallets holding the meme coin have been held for more than one year. This is a factor that has helped the profit margins of Bitcoin and Ethereum holders as longer-term holders have been proven to make more profit.

To put this in perspective, 70% of BTC holders have held for more than one year and 63% of investors are in profit. Likewise, 71% of ETH investors have held for at least one year and 62% of ETH investors are seeing profits.

Get the latest news here: Cointime channel — https://t.me/cointime_en