Dogecoin Holds Steady with 50.8% Supply in Profit Amid Market Rebound

Despite recent market volatility, Dogecoin (DOGE) shows resilience, with 50.8% of its supply still in profit, according to Glassnode. The "supply in profit" metric tracks coins whose current price exceeds their last moved price, offering insights into investor sentiment and potential market behavior. A 50.8% figure suggests a balanced sentiment among holders — neither strongly bearish nor overly bullish — signaling a possible base for recovery.

While leading cryptocurrencies like Ethereum (ETH) and Solana (SOL) experienced significant declines in unrealized profits, Dogecoin remains in the middle ground. This neutral position indicates reduced panic-selling pressure and opens the door for potential upside, especially if favorable catalysts emerge.

DOGE has rebounded to around $0.15 following a sharp market-wide dip. At the time of writing, Dogecoin trades at $0.154, up 6% in the past 24 hours. The broader crypto market also saw relief, led by Bitcoin (BTC) climbing back toward $80,000 after briefly dropping below $75,000. This recovery triggered a wave of short liquidations, amounting to nearly $1.4 billion, and contributed to the rebound of major altcoins.

Dogecoin spiked 13% during the rally before settling slightly lower, showing strength amid the turbulence. The current market dynamics — combined with technical indicators like Bollinger Bands — hint at a possible continued recovery if momentum builds and new buyers step in.

As Dogecoin maintains a stable footing, its near-even profit distribution could attract traders eyeing a strategic entry. With over half of its supply still above water, DOGE may be nearing a make-or-break point that could define its next price trajectory.