Dogecoin (DOGE) is Currently the Most-Profitable Meme Coin: What About Shiba Inu (SHIB)?
Release: 2024/08/14 21:24 Reading: 526
TL;DR
DOGE and PEPE are among the meme coins whose holders are predominantly in the green.
SHIB is in the opposite corner with over 50% of its investors sitting on some paper losses.
DOGE Leads the Pack
The meme coin sector witnessed a huge resurgence earlier this year, with its market capitalization surpassing $60 billion. Despite retracing to the current $40 billion, the niche is still full of tokens that have brought numerous traders some profits (at least on paper).
IntoTheBlock data shows that Dogecoin (DOGE) – the biggest meme coin – ranks first in that ranking. Over 72% of its holders are currently in the green, while 25% are underwater. DOGE is among the cryptocurrencies that are predominantly held for the long term. The latest figures show that 67% have hopped on the bandwagon over a year ago, with only 2% doing so in the past month.
Next in line is another dog-themed asset – Floki Inu (FLOKI). Approximately 70% of its investors are sitting on paper profits, whereas 27% are recording some losses.
Third place belongs to Mog Coin (MOG), with 61% of the holders currently in the money. It has been among the best-performing cat-related meme coins, climbing the crypto ladder in the past few months. Currently, MOG’s market cap is over $500 million, making it the 125th biggest in the entire industry.
Pepe (PEPE) is fourth, with around 56% of the holders witnessing an increase in their initial investments. The frog-themed token has been one of the sensations of this bull cycle, hitting a new all-time high price in late May. Since then, though, PEPE has retraced by roughly 50%.
What About SHIB?
The second-largest meme coin experienced a significant price increase in March this year, making over 63% of its holders profitable. However, the subsequent decline in the following months has changed the situation. Currently, 46% of the SHIB investors are in the green, while more than 50% are underwater.
Other meme coins whose holders are predominantly in the red include Bone (BONE), Coq Inu (COQ), Dogelon Mars (ELON), and MAGA (TRUMP). The Donald Trump-themed token is down over 80% from its peak registered in June, with nearly 87% of its investors sitting on some paper losses.
The post Dogecoin (DOGE) is Currently the Most-Profitable Meme Coin: What About Shiba Inu (SHIB)? CryptoPotato.
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