Donald Trump’s victory has caused quite a stir in the cryptocurrency market, and Dogecoin has become one of the main stars of this rally. In just one week, the memecoin has risen in price by an impressive 130%.
Analysis of the current situation on the DOGE market allows us to draw several conclusions. Firstly, the vast majority of Dogecoin holders are in profit. According to experts, about 98% of all coins were bought at a price lower than the current one. This indicates a high level of investor satisfaction and creates the preconditions for profit-taking.
When such a significant part of the cryptocurrency supply is in profit, the market is usually approaching a peak.
