DOGE, PEPE, And MOG Holders In Profit Above 75% Despite Downturn

Memecoins Demonstrate Resilience Amidst Market Downturn

Despite a broad crypto market correction, numerous memecoins have maintained positive sentiment. According to data from IntoTheBlock, a blockchain analytics platform, a significant proportion of holders remain in profit for Dogecoin (DOGE), Pepe Coin (PEPE), and MOG (MOG).

MOG leads the sector with an impressive 85.5% of holders still seeing gains, followed closely by PEPE at 78.53%, Floki at 75%, and Dogecoin at 75%. Even Shiba Inu, a popular dog-themed memecoin, claims the 6th position with 51.83% of holders profiting.

Holders Profitability Metrics

Whales Accumulating Dogecoin

Amidst the market downturn, Dogecoin has gained attention due to the accumulation of 90 million DOGE by a whale on Binance. Such large-scale accumulation can indicate bullish expectations for the cryptocurrency's future.

Trader's Buy-the-Dip Strategy

A crypto trader has also engaged in a buy-the-dip strategy, acquiring $59 million worth of PEPE and seven other altcoins, including ETH, SHIB, and MATIC. This move suggests optimism for potential gains ahead for these tokens.

BitMEX Supports Memecoins

Crypto trading firm BitMEX has recently announced support for SHIB, DOGE, and PEPE. The new product, MEMEMEXTUSDT, is a Basket Index perpetual swap contract providing traders with exposure to the top 10 meme coins. It is margined in USDT and offers leverage up to 25x.

In conclusion, while the broader crypto market faces challenges, memecoins have demonstrated resilience with a significant number of holders remaining in profit. The accumulation of Dogecoin by whales and the buy-the-dip strategies employed by traders further indicate potential for future price surges.