Dogecoin Profitability Back Above 50%: Top BSC Whales Accumulate 324M DOGE – Tesla Motors (TSLA)

According to the IntoTheBlock data, Dogecoin (CRYPTO: DOGE) at least 52% of all Dogecoin holders are currently in profit while 42% of investors remain “out of the money”.

The report suggested that the profitability spear was noticed during the 25% recovery rally that took place between Feb. 4 and Feb. 7. 

The average profitability of Dogecoin has been staying at around 50% since the 70% reversal from the current all-time high of $0.7376. 

Earlier, the number of Dogecoin holders on the Binance Smart Chain had reached 540,000 users, while the number of coins held by large wallets reached 324 million Doge valued at approximately $50 million. 

At the time of reporting, Dogecoin is trading at $0.1434, down about 6.25 percent in the last 24 hours.  

On Thursday, Dogecoin reached a new milestone in holders as the top 1,000 BNB wallets are now holding 324 million DOGE. 

Dogecoin was ranked tenth among the largest cryptocurrency holdings by the 1,000 biggest BSC whales, with a total value of $48.99 million, cryptocurrency data platform WhaleStats said in a tweet.    

Dogecoin’s popularity has been skyrocketing due to endorsement from Tesla Inc. (NASDAQ:TSLA)  CEO Elon Musk.

The cryptocurrency’s official Twitter account surpassed three million followers last week, making it the second-largest crypto with the most followers on the social media platform behind Bitcoin (CRYPTO: BTC).

Also See: Dogecoin Sits At A Key Level: What’s Next?

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