Shiba Inu Is Still Trailled By Dogecoin In This Metric 🚀

Meme Coin Profitability Amid Market Correction

Over the past six months, the meme coin sector, popularized by tokens like Dogecoin and Shiba Inu, has seen numerous fluctuations in value due to volatility. A majority of meme coins exhibited similar price movements, resulting in holders discussing similar trends in terms of price and profits.

Many meme coins have hit multi-month lows
On-chain data shows varying impacts on holders
Profitability metrics reveal different outcomes per meme coin

Dogecoin and Shiba Inu Profitability Analysis

The assessment of meme coin profitability is based on IntoTheBlock’s “In/Out Of The Money” metric, which tracks addresses in profit or loss at the current market price. Among meme coins, certain tokens stand out in terms of profitability, with Dogecoin leading the way.

Dogecoin has 72.4% of addresses in profit
FLOKI follows with 70.43% profitable addresses
Mog Coin holds 57.56% in profit
PEPE has 55.47% of addresses in profit
SHIB ranks fifth with 45.80% in profit

These figures indicate varying levels of profitability among different meme coins, showcasing how holders of each token are impacted differently by market conditions.

SHIB’s Decline Amid Market Corrections

Despite its significant community support, Shiba Inu (SHIB) has not been immune to the recent market downturn, resulting in a substantial drop in its market cap. This decline has led to a decrease in the number of SHIB holders in profit.

SHIB has lost about 62% of its market cap since March 2024
Currently, only 45.80% of SHIB holders are in profit
52.51% of SHIB holders are experiencing losses

These statistics highlight the impact of market corrections on meme coin profitability, with SHIB facing significant challenges amidst the broader market downturn.

Hot Take: The Future of Meme Coins

As meme coins continue to navigate through market volatility, it is crucial for holders to stay informed about the profitability of different tokens and monitor how market conditions affect their investments. Understanding the dynamics of meme coin profitability can help investors make informed decisions in this ever-evolving landscape.