Dogecoin [DOGE] is bucking the profit trend among major cryptocurrencies, with fresh on-chain data showing the memecoin’s holders are realizing more losses than profits, making it the only top 10 crypto in this unusual position.
According to the latest post by analytics firm Glassnode, the gap between Realized Loss and Realized Profit for Dogecoin is striking. Over the last 24 hours, Dogecoin investors realized about $132 million in losses compared to just $5 million in profits, highlighting panic selling and capitulation among holders.
DOGE Pain Stands Out Among Major Coins
Glassnode’s data reveals that other major cryptocurrencies are showing the opposite pattern, with profits far outweighing losses.
Bitcoin [BTC] led the way with a massive $1.3 billion in realized profits over the same period, while only $33 million in losses were recorded. The world’s largest cryptocurrency continues to see strong profit-taking, reflecting bullish market conditions but also raising questions about a possible local top.
Ethereum [ETH] showed more balanced behavior, with $35.2 million in profits and $18.4 million in losses, suggesting that ETH holders are more evenly split between profit-taking and selling at a loss.
Capitulation Could Fuel DOGE’s Reversal
The heavy loss realization for Dogecoin, while negative on the surface, could set the stage for a bounce. Historically, phases where holders capitulate and sell at a loss often mark local bottoms, paving the way for price reversals once selling pressure exhausts itself.
In contrast, widespread profit-taking like that seen in Bitcoin often signals caution, as market tops can form when investors cash out large gains aggressively.
DOGE Price Update
Dogecoin recently touched $0.170 over the weekend but retraced below $0.165 as the new week kicked off. This pullback reflects the panic selling trend highlighted by the realized loss spike.
For now, traders will watch closely to see if this wave of loss-taking is enough to clear weak hands and attract fresh buyers looking to pick up DOGE at a discount.
While Dogecoin’s short-term price has struggled, some analysts argue that the memecoin’s cult-like following and history of surprise rallies keep it in play for sudden recoveries, especially if the broader market stays strong.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
