A recent increase in Dogecoin's value has led to a rise in the number of DOGE holders who are currently in profit. This surge, which has been attributed to Tesla's adoption of Dogecoin as a payment method, has seen the popular meme coin increase in value by 12% weekly. This rise has benefited a majority of DOGE investors, with over 83% currently enjoying paper profits, while only 13% are facing losses.

Comparatively, Dogecoin has outperformed its biggest rival, Shiba Inu, in terms of profitability. Around 60% of SHIB HODLers are currently in the green, while 36% are at a loss. This trend contrasts with the bear market experienced in 2022-2023, where the majority of SHIB investors and almost half of DOGE holders were facing losses.

Analysts are optimistic about Dogecoin's future, with many believing that the recent price revival could be the start of a major bull run. Some experts, like Rekt Capital and Crypto Catalysts, have highlighted positive indicators for DOGE, suggesting that the path to $1 is clear. Ali Martinez also noted that the recent price correction observed in Dogecoin could signal the beginning of a new bull run, similar to patterns seen in previous years.