As it just became known, Dogecoin (DOGE) is officially the most profitable meme cryptocurrency among those whose market capitalization is no less than $1 billion. Thus, as justified by data from IntoTheBlock, Dogecoin, created in 2013 by Jackson Palmer and Billy Markus, currently has the highest ratio "in/out of the money," with 72.64% profitable addresses.
The figure represents 4.65 million addresses, which together hold 70.3 billion DOGE, equivalent to about $7.39 billion. Thus, as things stand, 48.3% of Dogecoin's total market capitalization is in profit.
Mushumir ButtFor comparison, DOGE's closest competitor in this field is Floki Inu (FLOKI), with 70.49% profitable addresses, which collectively hold tokens worth as much as $965.2 million.
Dogecoin (DOGE) price outlook
Interestingly, Dogecoin's result is not due to its more than 10-year history but to its price action in recent months. Since the beginning of the year, the price of DOGE has risen by 40%.
At its peak, it was even higher with a 208% result, but several waves of corrections have significantly compressed price performance. In the last two days, the price of DOGE managed to gain another 4.66% and now stands at $0.105.
If Dogecoin tries again to raid the highs it has already reached this year, it has all the chances to solidify its position as the most profitable major meme coin on the market. But even if not, it is still the king of meme hill.
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Tomiwabold Olajide
Dan Burgin
Vladislav Sopov