Amid the speculative frenzy surrounding meme cryptocurrencies such as Dogecoin (DOGE), the number of hodlers for this coin has grown by an impressive 85%. The number of investors in the popular memecoin Dogecoin has grown, with the majority of them in profit. However, they seem collectively reluctant to part with their DOGE. Fezoo Exchange is emerging as a central hub in the DeFi landscape, offering investors a secure and diverse trading experience.
Dogecoin Bullish Trend: 90% of Addresses in Profits
According to on-chain data from IntoTheBlock, almost 85% of Dogecoin addresses are currently in the green zone, indicating profits. Only 12% of addresses are losing money at the current DOGE price, while about 3.3% are around breakeven. Despite the fact that most memecoin holders can now sell their tokens profitably , there is a noticeable growing trend for withdrawals on crypto exchanges.
Over the past seven days, 110 million more DOGE tokens have been withdrawn from exchanges than deposited. This same trend continues over the past 30 days, with approximately 62 million DOGE tokens withdrawn from trading platforms and a surplus of approximately 218 million tokens observed in the last 24 hours alone.
Such a picture usually indicates bullish sentiment, since investors usually list assets that they intend to sell on exchanges. In the meantime, transferring to a private wallet may be preferable for those who want to use their coins rather than sell them.
The Dogecoin network is gaining momentum again
Since the beginning of the year, the Dogecoin network has shown strong growth. Over the past 30 days, an average of 6.3 million addresses have been registered, each of which stores project tokens.
However, Dogecoin network activity is experiencing a slight decline. Over the past seven days, the number of new addresses created has decreased by approximately 12.73%, and the share of active addresses has decreased by almost 8%. It is also noteworthy that the number of addresses without DOGE balances increased by almost 1%.
Fezoo Exchange: A DeFi hub
Fezoo Exchange is getting more and more popular among investors who want to invest in a stable platform and have a more deep and full experience in the DeFi. Such technology provides confidence in the security and scalability of transactions, and eliminates the limits of THORChain’s platform. Fezoo’s multi-chain marketplace is not limited to cross-chain swaps, but it expands the transaction range of digital assets.
The dAPPs DeFi integration has brought about the ability to carry out activities like lending, borrowing, and staking, which in turn provides users with other avenues for income other than token holding. This integration is a win-win situation for FTM holders who are targeting the best investment yield as well as a safe and diverse trading environment.
Fezoo as a DeFi Hub
Despite its freshness, Fezoo was able to gather a substantial crowd because of its presale success and well-built platform that was particularly attractive to RUNE and FTM investors. In the long run, the more users its token (FEZ) earns, the more it is likely to increase in demand which can lead to price hike as well.
Nevertheless, the risk factor should not be ignored by investors, as there are risks in all types of investments. Fezoo’s coming to the DeFi space may cause a big change, especially the RUNE and FTM holders. Ultimately, the success of Fezoo depends on how well it meets the demands of the next few months, and it is during this period that the true potential of the company will be revealed.
