Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
As per data from IntotheBlock analytics, Dogecoin has more medium-term investors than about a year ago. Dogecoin is approaching the $0.20 mark as the price steadily increases for the third consecutive day.
In December 2020, Dogecoin hodlers stood at 2.04 million addresses, or 74.35% of the total addresses, cruisers at 537,870 addresses or 19.6%, and traders at 165,860 addresses or 6.06%, according to historical data from IntoTheBlock analytics.
Hodlers, or long-term investors in this context, refer to passive investors who have held the asset for more than one year. Cruisers, or mid-term investors, have a holding period of 1 to 12 months, while traders who hold the asset for less than 30 days are short-term investors.
Fast forward to December 2021, and there seems to be a switch in this trend. At present, 41.55% (1.8 million addresses) are hodlers, 52.69% (2.28 million addresses) are cruisers and 5.77% (249,880 addresses) are traders as per metrics supplied by IntoTheBlock.
While the number of short-term traders has increased slightly in December 2021, there seems to be a larger number of medium-term investors, or ''cruisers,'' as long-term holders have capitulated.
Dogecoin price action
Dogecoin (DOGE) showed a steady rally around mid-December after Tesla CEO Elon Musk stated that Doge would be accepted for some transactions. Musk tweeted, "Tesla will make some merch buyable with Doge & see how it goes." The price of Dogecoin skyrocketed roughly 48% in response to the tweet, reaching highs of $0.220.
The dog-themed token retraced its surge below $0.20 to a near-term low of $0.161 where it has picked up momentum to approach $0.20. DOGE/USD sustains its run into the third day on Thursday, gaining above 3% in the last 24 hours while still down about 3% on a seven-day basis amid a recent retreat.
Dogecoin's current price is $0.176, with a trading volume of $1,123,773,873 in the last 24 hours. It is ranked #12 on CoinMarketCap, with a live market cap of $23,468,303,364. The maximum supply is not known; however, it has a circulating supply of 132,644,316,641 DOGE coins.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov