Dogecoin Profitability Returns Back Above 50%: Here's What It Means For DOGE Holders

ICYMI: Dogecoin's profitability has surged above 50% after the rebound of the cryptocurrency market DOGE $DOGE

The spike in the profitability of the meme currency was observed during the 25% recovery rally that took place between Feb. 4 and Feb. 7. Such a rapid price increase put approximately 10% of all DOGE holders back into the “profit zone”.The “in/out of the money” indicator is used by traders to determine if the market or an asset is overbought or oversold.

Whenever an asset’s profitability reaches 100% traders are more likely to take profits for the sake of derisking their portfolios, compared to a period when 50% of the asset’s holders are in profit. profitability currently stays at 50% indicates that the asset is moving in the “neutral” price range and is more likely following general tendencies on the cryptocurrency market rather than moving on its own.

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

Utoday_en /  🏆 295. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

Top 50 daily boys basketball stat leaders for Thursday, Feb. 10Check out leaders in points, rebound, assists, blocks and steals.
Les mer »

DAX Forecast: German Index Pulls Back From 50 Day EMAThe DAX initially rally during the trading session on Thursday but has found the 50 day EMA to be a bit too much, as we have pulled back rather significantly.
Les mer »

Dallas reckoning: Nearly 50 years after Santos Rodriguez’s murder, the city honors an ‘innocent boy’Nearly five decades after the murder of Santos Rodriguez by a police officer, the city of Dallas will dedicate a memorial statue on Saturday to the youth...
Les mer »

50 Valentine’s Day quotes to share with your belovedGet inspired by these sweet sayings from authors, musicians and other notables.
Les mer »

Forbes Blockchain 50 2022Since our inaugural roundup of the Blockchain 50, published in 2019, the billion-dollar companies (minimum, by sales or market value) on our annual list have moved beyond test projects and now rely on “distributed ledger” technology to do serious work.
Les mer »