- Dogecoin ranks among top five cryptocurrencies held by eToro users in Q3 2022.
- eToro users show preference for metaverse and NFT tokens and meme coins like Dogecoin.
- Analysts recommend long position in Dogecoin, predicting 20% rally in DOGE with $0.0769 level as target.
eToro, a multinational social-trading company, published its Q3 2022 report on cryptocurrencies that were the most popular among users of the platform. Dogecoin ranked fifth in the list consistently for three quarters. Dogecoin price has been on a winning streak recently, yielding holders 8% gains overnight.
Also read: Bitcoin Price: Whales ready to push BTC higher, accumulate $931 million worth of Bitcoin
Dogecoin ranks among most held cryptos on eToro
eToro, an Israeli multinational social trading and multi-asset investment company is focused on providing stocks and crypto to its 28.5 million registered users. The social-trading giant published its Q3 2022 report and revealed the fastest growing crypto assets.
Metaverse and NFT tokens, meme coins like Dogecoin rank among the fastest growing cryptocurrencies on the social-trading platform. At the end of Q3 2022, Bitcoin, Cardano, Ethereum, XRP and Dogecoin were the most held cryptocurrencies on eToro.
Most held cryptos on eToro at the end of Q3 2022
— eToro (@eToro) October 5, 2022
1️⃣ Bitcoin
2️⃣ Cardano
3️⃣ Ether
4️⃣ XRP
5️⃣ Dogecoin
Simon Peters, crypto market analyst at eToro said that the top 10 most held cryptocurrencies on eToro remained unchanged in Q3 2022. Dogecoin ranked fifth on the list consecutively for three quarters.
Peters argues that the stability reflects a tough period for markets, but also affirms a long-term buy-and-hold strategy among the investors in those assets, suggesting they’ve looked beyond short-term market volatility.
Analysts remain bullish on Dogecoin
Dogecoin price yielded 8% gains overnight and analysts retain a bullish outlook on DOGE. TraderSZ, a crypto analyst evaluated the Dogecoin price trend and set a target at the July high of $0.07695 for DOGE. The Shiba-Inu-themed cryptocurrency broke past resistance at $0.06350. The analyst predicted a 20% rally in Dogecoin price.
DOGE-USDT price chart
Akash Girimath, technical analyst at FXStreet believes Dogecoin price is ready to break above a multi-year resistance level and kickstart a 50% rally. The $0.066 level is key to Dogecoin’s bullish break and the Shiba-Inu-themed cryptocurrency is ready for a trend reversal.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Cardano Price Forecast: ADA bulls target double-digit gains as bullish bets increase among traders
Cardano (ADA) price hovers around $0.74 at the time of writing on Thursday after a recovery of over 4% so far this week. On-chain data hints at a bullish picture as ADA’s stablecoin market cap rises while its bullish bets increase among traders.
GameStop's plan to issue $1.3 billion convertible notes to buy Bitcoin could boost crypto market and meme coins
Video game retailer GameStop announced on Wednesday that it plans to issue senior convertible note offerings worth $1.3 billion. The company aims to use part of the proceeds from the offerings to buy Bitcoin.
Stablecoin mania kicks off as Wyoming and Fidelity join the race
According to Governor Mark Gordon, the state of Wyoming has joined the race for a stablecoin, following plans to launch WYST, a US Dollar-backed token in July.
Toncoin traders target $10B valuation as Elon Musk integrates Grok AI into Telegram
Toncoin price rose 3% on Wednesday despite crypto market inflows subsiding after a two-day rally.
Bitcoin: BTC stabilizes around $84,000 despite US SEC regularity clarity and Fed rate stability
Bitcoin price stabilizes around $84,000 at the time of writing on Friday after recovering nearly 2% so far this week. The recent announcement by the US SEC that Proof-of-Work mining rewards are not securities could boost BTC investors' confidence.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.