As just announced, Dogecoin (DOGE) is officially the most profitable meme cryptocurrency among cryptocurrencies with a market cap of over $1 billion. Created in 2013 by Jackson Palmer and Billy Markus, Dogecoin currently boasts the highest in/out-of-the-money ratio with 72.64% of profitable addresses, as data from IntoTheBlock shows.
This figure represents 4.65 million addresses, holding a total of 70.3 billion DOGE (roughly $7.39 billion). As of now, 48.3% of Dogecoin’s market cap is profitable.
For comparison, DOGE’s closest competitor in this space is Floki Inu (FLOKI), with 70.49% of profitable addresses, collectively holding up to $965.2 million worth of tokens.
Dogecoin (DOGE) Price Outlook
Interestingly, Dogecoin’s performance is not due to its 10+ year history, but rather its price performance over the past few months. Since the beginning of the year, DOGE’s price has increased by 40%.
It peaked even higher, resulting in 208%, but several corrective waves significantly compressed the price evolution. Over the past two days, DOGE’s price has increased by another 4.66% and is currently at $0.105.
If Dogecoin tries to reach the highs it has already achieved this year again, it could well solidify its position as the most profitable leading meme coin in the market. But even if it wasn’t, it would still be king of the meme hill.
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