Shiba Inu Trails Behind: Can it Catch Up? 📈🐕

Analysis of Dogecoin and Shiba Inu Profitability

Recent data has shown that Dogecoin and Shiba Inu, two popular meme-based cryptocurrencies, have had different levels of profitability for their holders. While Dogecoin has seen a significant increase in the number of addresses in profit, Shiba Inu has lagged behind in this aspect. Let’s delve into the details of holder profitability for both these cryptocurrencies:

Dogecoin Holder Profitability

Data from IntoTheBlock’s “In/Out of the Money” metric reveals that Dogecoin remains a top choice for holders in the long term.

At the current moment, 5.23 million DOGE addresses are still in profit, accounting for 83.03% of total addresses.
Approximately 826,350 addresses are currently in loss, representing 13.12% of total addresses.
There are 242,710 addresses, equivalent to 3.85% of total addresses, that are categorized as “in the money.”

Shiba Inu Holder Profitability

Unlike Dogecoin, Shiba Inu has not shown the same level of growth in holder profitability.

The number of SHIB holders in profit stands at around 60% at present.
Approximately, 487,970 addresses are currently facing losses, making up 36.18% of total addresses.
Only 50,590 addresses, representing 3.75% of total addresses, are “in the money.”

Disparity in Holder Profitability

When comparing the profitability of addresses in different price ranges:

Only 41.38% of Shiba Inu addresses in the $0.000020 to $0.000027 price range are profitable.
Comparatively, a higher percentage of Dogecoin addresses (55.84%) are in profit at the current price levels.

Potential for Shiba Inu Profitability

Shiba Inu has the opportunity to catch up in holder profitability levels through its unique deflationary design.

Unlike Dogecoin, which has an unlimited supply, Shiba Inu’s decreasing total coin count could drive scarcity and value appreciation.
This may attract more investors over time, leading to a stable price increase and improved profitability.

Current Price Dynamics

As of the report, Dogecoin is trading at $0.1588, whereas Shiba Inu is trading at $0.00002403.

Hot Take: The Road to Profitability

As you monitor the profitability trends of Dogecoin and Shiba Inu, keep an eye on how these meme-based cryptocurrencies evolve in the coming days. The unique characteristics and market dynamics of each coin can impact their holders’ profitability. Stay informed and make informed decisions in this ever-changing crypto landscape.