Around 70% of Dogecoin ($DOGE) Army is In Profit, Report Shows

IntoTheBlock data revealed that about 70% of all Dogecoin (DOGE) holders are in profit, even though the price of the memecoin plunged from an all-time high of around $0.70 to about $0.247 currently.

According to the data, 68% of Dogecoin holders are still making money, while 26% of the holders are losing money. Meanwhile, the rest of the 6% of the memecoin holders are breaking even.

Earlier this year, the Dogecoin price reached $0.70 as the crypto became so popular because of Tesla CEO Elon Musk. The richest man on earth is a fan of memecoin. He started to tweet about it, driving the price of the cryptocurrency high as investors hoped into it rapidly.

The king of memecoins price hit its all-time high after Musk said it is “a hustle” on Saturday Night Live (SNL) and has since fallen to its current level.

Note that Glauber Contessoto, a Dogecoin investor who is famous for investing his $250,000 life savings in the crypto in February to become a millionaire in just a matter of a couple of months later, has doubled down on his investment with a $25,000.

In June, Contessoto asserted that he didn't lose faith in his investment and wanted to buy more Dogecoin during dips. He said he is a diamond hand for at least one year.