Dogecoin Price Hits New 2024 High: Here Are 2 Ways It Could Go From Here

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Dogecoin Price Hits New 2024 High: Here Are 2 Ways It Could Go From Here - NewsBTC

Quick Summary:

This Analyst Thinks So Dogecoin 7-Month High Pushes Majority Into Profitability Data from IntoTheBlock indicates that the vast majority of DOGE holders are currently in profit thanks to the recent price rally.

In terms of a specific buy zone close to the current price, the profitability metric from IntoTheBlock also shows that a majority (62.35%) of addresses that bought between $0.178537 and $0.242947 are making money at the current price. As we enter a new week, the price of Dogecoin faces two paths based on current market dynamics and holder profitability.

Notably, the price of Dogecoin has doubled in the past 30 days, with price data highlighting a 115% increase within this time frame. This impressive Dogecoin price rally has seen the meme coin break above $0.22 for the first time since April 1, which is more than seven months ago.