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.
🏆 New Record: $DOGE reaches an astonishing 540,000+ holders.
Current Holder Count: 540,034
💹 The top 1000 BNB wallets are holding 324,663,141 $DOGE ($51,057,103 USD)
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) February 10, 2022
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).