- Glassnode reports Dogecoin faced $132 million in realized losses within 24 hours.
- Bitcoin and Ethereum showed stronger market resilience, maintaining net profits.
- Institutional adoption and fundamentals give BTC and ETH an edge over DOGE.
- Metaplanet and Michael Saylor’s Strategy continue aggressive BTC accumulation.
According to a recent report by on-chain analytics firm Glassnode, Dogecoin (DOGE), the original meme coin, has taken a hard hit compared to its larger counterparts — Bitcoin (BTC) and Ethereum (ETH). In the last 24 hours, DOGE became the only top 10 cryptocurrency that logged more realized losses than profits, a sign of waning confidence among its holders.
Dogecoin Sees $132 Million in Losses
Glassnode data reveals that Dogecoin recorded $132 million in realized losses, with only $5 million in profits — a stark contrast to the performance of BTC and ETH. For context:
- Bitcoin logged $33 million in losses against $1.3 billion in realized profits.
- Ethereum saw $18.4 million in losses, while realizing $35.2 million in profits.
This means Bitcoin’s losses stood at just 2.5% of its profits, while Ethereum’s were about 52% — highlighting much stronger market resilience than Dogecoin.
Why DOGE Is Lagging Behind
Unlike Bitcoin and Ethereum, Dogecoin lacks robust fundamentals and institutional support. BTC and ETH are bolstered by:
- Institutional adoption
- Regulatory clarity
- Spot ETFs
- Long-term investor sentiment
Also Read: Dogecoin Set to Explode? Top Analyst Predicts 137% Price Surge to $0.3983
Dogecoin, however, remains highly meme-driven, which contributes to its volatility and speculative nature. This makes it particularly vulnerable during broader market corrections.
Bitcoin Treasuries: Metaplanet and Strategy Lead the Way
While Dogecoin faces bearish pressure, Bitcoin continues to attract massive institutional inflows.
- Metaplanet, a Bitcoin treasury company with offices in Japan and the U.S., recently acquired 1,005 BTC for $108.1 million, at an average price of $107,601 per coin.
- This brings Metaplanet’s total BTC holdings to 13,350 BTC, purchased for $1.31 billion and now worth over $1.44 billion.
- Metaplanet is now among the top five largest Bitcoin treasuries.
Also Read: Bitcoin Holds Strong Above $105K While Ethereum ETF Inflows Signal Institutional Confidence
Meanwhile, MicroStrategy, led by Bitcoin maximalist Michael Saylor, remains the largest corporate holder with 592,345 BTC valued at over $63.9 billion. Saylor, famous for being “irresponsibly long Bitcoin” since 2020, continues to influence corporate Bitcoin accumulation trends.
Adding to the bullish outlook, Europe’s Blockchain Group has also entered the race, recently acquiring 60 BTC and boasting a 1,270.7% YTD yield with their 1,788 BTC stash.
Dogecoin recent on-chain performance paints a worrying picture, especially when placed alongside Bitcoin and Ethereum’s resilient metrics. While DOGE grapples with meme volatility, BTC and ETH continue to attract serious institutional money — suggesting a widening gap in long-term viability and investor confidence.
