Comparing The Profitability Of The Top Meme Coins

Holders of the top meme coins have seen wild price fluctuations over the past few weeks. Most of the meme cryptocurrencies There was a violent collision Across the board, assets have lost over 20% in the past week, with holders of top meme coins Dogecoin, PEPE and Shiba Inu in particular disappointed as price declines have rendered many of them unprofitable.

Interestingly, IntoTheBlock’s “In/Out Of The Money” metric shows that each meme coin has different levels of profitability, with SHIB holders currently appearing to be the most affected.

Comparing the profitability of the top meme coins

Dogecoin, Shiba Inu, and PEPE are the top OG meme coins. Dogecoin and Shiba Inu have grown over the years and are striving to be the best, trying to upgrade from meme token status. The newest, PEPE, recently joined the ranks after a strong rally.

But recent market trends have seen these fun-branded cryptocurrencies take a beating, plummeting more than 20% and 40% in the past seven and 30 days, respectively.

Dogecoin, the original meme coin and king of the meme market, has plummeted 24% and 41.8% in the past seven and 30 days, respectively. Shiba Inu, the self-proclaimed “Dogecoin killer,” has also lost steam in recent weeks, dropping 23.5% and 49% in the past seven and 30 days, respectively. Even Pepe, the internet’s favorite frog, I couldn’t escape the recession.The meme-inspired cryptocurrency has fallen 34.5% and 45.6% over the past seven and 30 days, respectively.

IntoTheBlock Profitability Indicators It tracks wallets that are “in the money,” “at the money,” and “out of the money.” “In the money” tracks wallets that are making a profit at the current price, while “out of the money” tracks wallets that are losing money. According to Global In/Out of the Money, 3.43 million Dogecoin addresses (representing 54.05% of all addresses) are still making a profit, while 1.77 million addresses (representing 27.93% of all addresses) are currently losing money.

Similarly, 58% of PEPE holders (155,810 addresses) are making a profit, while 32.36% (86,940 addresses) are losing money. Meanwhile, only 20.47% of SHIB holders (274,540 addresses) are making a profit at the current price, while the majority (52.46% (703,700 addresses) are suffering losses.

Shiba Inu

Dogecoin

Pepe
Source: X

Is it time to buy Dogecoin, Shiba Inu, or PEPE?

At the time of writing, Dogecoin is trading at $0.09535, Shiba Inu at $0.00001321, and PEPE at $0.000007991. All three cryptocurrencies are at risk of further price declines, but the recent double-digit declines may present an attractive opportunity for meme coin enthusiasts. “Buy it cheap.”

Dogecoin price chart on Tradingview.com
DOGE Price: $0.1 | Source: DOGEUSDT on Tradingview.com

Featured image created by Dall.E, chart taken from Tradingview.com

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