In 2021, Dogecoin had a tumultuous year. It rose from being a relatively unknown cryptocurrency to the leading meme coin in the space, with a valuation of much to $40 billion at one point.
Dogecoin, like anything else, has its moment in the spotlight. However, the attention has since shifted to other ventures in the industry, although Dogecoin remains a favorite among investors, notably whales. Its popularity has increased by over 4 million holders in the last year. One country accounts for the vast majority of this total. Here is the world’s most pro-Dogecoin country.
The United States is the most optimistic about Dogecoin
According to a Finder survey, the United States is the most pro-Dogecoin country in the world. It’s not surprising, given that companies like Robinhood exploded at the same time as Americans sought to capitalize on the burgeoning meme coin industry. According to the report, cryptocurrency holders in the United States owned the most percentage of Dogecoin.
The meme currency was held by 31.6 percent of all crypto holders in the United States. The United States has previously been discovered to hold the highest investment in Doge of any other country. The Finder report issued in January confirmed that this has not changed.
Australia finished in second place as the most pro-Doge country, with 29 percent of all crypto holders holding some Dogecoin on their wallets. According to the report, which included 27 nations, Japan has the lowest holding in Doge among crypto investors.
The meme coin also ranked first among the most popular cryptocurrencies held by US investors. Bitcoin and Ethereum were unsurprisingly first and second on the list, but Dogecoin landed third with 31.6 percent of all holders.
Doge Holders Strive for a Profit-Loss Balance
Despite the two-month-long slump, the bulk of Dogecoin holders are still profiting, albeit by a little margin. Given that the digital asset was cheap for the longest period before exploding, most investors who have held for at least a year are still profiting handsomely. Others, though, have not been so fortunate.
According to IntoTheBlock data, 48 percent of holders are profitable, while 47 percent are losing money. As the digital asset price falls, this metric will continue to fall into loss, leaving the majority of holders in a difficult position.
The supply of the meme coin is still biased towards large holders. Data also suggests that large investors own 61 percent of the meme coin’s supply. Furthermore, only 41% of those polled have kept their luggage for more than a year. The majority (52 percent) have been with the company for 1 to 12 months. Only 4% of Doge holders are in neutral territory, which means they bought their tokens at the asset’s current price.
