Dogecoin Update: What DOGE’s Approaching 10 Billion Gains Mean for Holders

The Dogecoin (DOGE) price chart currently indicates a potential upward trajectory for the price.

This is mainly due to investors' greed for profits, as the billions of dollars invested in DOGE are about to become profitable.

Dogecoin Investors See Gains

notice Dogecoin Price DOGE, which is trading at $0.159 at the time of writing, has plenty of room to grow with the support of its investors. The main reason for this dynamic is the 9.91 billion DOGE in the hands of DOGE holders.

This offering, worth over $1.56 billion, was purchased between $0.151 and $0.168. Currently, DOGE is just 6% below the upper end of this range, meaning this offering has become profitable.

For now, this will entice investors to push higher and prevent them from selling.

This sentiment is also supported by Dogecoin’s market capitalization to realized value (MVRV) ratio. MVRV is used to assess the overall profits and losses experienced by investors. Since the 30-day MVRV of DOGE is -14%, investors face a monthly loss.

But it is also a bullish signal because values ​​between -7% and -19% indicate restraint against selling. DOGE holders prefer to accumulate at these low prices to make profits in the future. Therefore, the price of Dogecoin will also increase, making this area an opportunity zone.

Therefore, all signs point to a possible price rise.

Read also: Dogecoin (DOGE) Could See a Massive Price Rise

Dogecoin price forecast... and technical analysis of the currency

Dogecoin price is currently facing two major barriers: $0.168 and $0.182. The first represents the upper limit of the aforementioned supply, crossing it could initiate a recovery rally for DOGE.

This is the likely outcome as investors will continue until they make a profit. A reversal of $0.168 would trigger a rally, which could send the meme coin to $0.182, which could enable further gains.

Read more: Dogecoin Price Expectations in 2024, 2025, 2026, 2027

But if the altcoin fails to break above $0.168 and eventually falls and misses the $0.151 support, the bullish thesis is invalidated. DOGE’s $1.5 billion value will also turn into a loss, leaving Dogecoin price vulnerable to further correction.

As for the prices of digital currencies, the price of Bitcoin increased by 0.39%, the Ethereum currency decreased by 1.05%, the Tether currency recorded an increase of 0.05%, as well as the BNB currency. by 1.01%, as for the Solana Currency it recorded an increase of 0.77%, and you can discover the rest Cryptocurrency prices Thanks to the link.