Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins

Top Meme Coins Suffer Price Downturn

In recent weeks, investors in popular meme coins have experienced significant losses. Over the past seven days, most meme cryptos have plummeted by more than 20%. Holders of Dogecoin (DOGE), PEPE, and Shiba Inu (SHIB) have been particularly hard hit, with price drops pushing many out of profit.

Profitability Analysis by IntoTheBlock

IntoTheBlock's "In/Out Of The Money" metric provides insight into the varying levels of profitability across these meme coins. SHIB holders currently face the most significant losses.

Comparing Top Meme Coins

DOGE, SHIB, and PEPE remain the leading OG meme coins. DOGE and SHIB have gained traction over the years, aiming to transcend their meme token status. PEPE, a relative newcomer, surged in value during rallies in March and May.

Market Impact

However, recent market conditions have led to a sharp decline in these fun-oriented cryptos. Over the past seven and 30 days, each has plummeted by approximately 20% and 40%, respectively.

Profitability Metrics

IntoTheBlock tracks wallets that are "in the money," "at the money," and "out of the money." "In the money" wallets hold assets yielding a profit at current prices, while "out the money" wallets are in a state of loss.

For Dogecoin, 54.05% of addresses are "in the money," while 27.93% are "out the money." Similarly, 58% of PEPE holders are profitable, while 32.36% are in the red. Conversely, only 20.47% of SHIB holders are "in the money," with a majority (52.46%) experiencing losses.

Conclusion

While DOGE, SHIB, and PEPE face potential further declines, recent dips may provide an opportunity for meme coin enthusiasts to acquire assets at a discount.