Dogecoin and XRP Report Significant Decrease in Supply in Profit

Recent on-chain data indicates that Dogecoin and XRP have experienced sharp declines in their Supply in Profit, a measure of the percentage of circulating supply held at unrealized profit.

Key Points

Glassnode reports significant decreases in Supply in Profit for Dogecoin and XRP over the past 30 days.
XRP's Supply in Profit dropped by 5.2%, now at 81.5%.
Dogecoin (DOGE) saw a nearly 10% decrease, with 53.6% of its supply remaining in profit.
In contrast, Toncoin (TON) increased its Supply in Profit by 23.8%, totaling 94.1%. BNB rose by 17.4%, reaching 86.3%.
Solana (SOL) decreased by 4.4%, with only 35.2% of its supply in profit.
Low levels of profitable supply for SOL and DOGE may indicate potential price rebounds.

As of now, Dogecoin trades around $0.173, down over 11% in the last week.