According to the data, the price of Dogecoin is approaching $0.20 amid the surge in medium-term investors.
According to data from IntotheBlock analytics, Dogecoin has more mid-term investors than it did about a year ago. Dogecoin is rising steadily for the third day in a row, approaching the $0.20 level.
According to historical data from IntoTheBlock analytics, in December 2020, Dogecoin hodlers consisted of 2.04 million addresses, mid-term investors 537,870 addresses and traders 165,860 addresses.
Hodlers ie long-term investors refer to passive investors who hold the asset for more than one year. Medium-term investors have a holding period of between 1 and 12 months, while traders holding the asset for less than 30 days are short-term investors.
There seems to be a change in this trend to December 2021. Currently, according to metrics provided by IntoTheBlock, 41.55% (1.8 million addresses) are long-term investors, 52.69% (2.28 million addresses) are medium-term investors, and 5.77% (249,880 addresses) are traders. looks like.
While the number of short-term traders increased slightly in December 2021, there seems to be more mid-term investors as long-term investors capitulated.
Dogecoin Price Action
Dogecoin (DOGE) showed a steady rally in mid-December after Tesla CEO Elon Musk announced that Doge would be accepted as payment for the sale of certain products. The price of Dogecoin jumped roughly 48% in response to the tweet, reaching $0.220.
The token later declined and dropped to $0.161. DOGE/USD is up over 3% in the last 24 hours, while it is still down around 3% on a seven-day basis amid the recent slide.
The current price of Dogecoin is $0.177.
