Despite recent market corrections, certain sectors, including meme-themed cryptocurrencies such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are exhibiting remarkable resilience, with the majority of investors remaining profitable.
Market Trends and Meme Coin Performance
In spite of a recent correction in which Bitcoin fell from a high of $72,750 to $61,079, analytics firm IntoTheBlock data indicates that investors in meme coins have remained largely profitable.
More specifically, the majority of Dogecoin holders (85%), Pepe holders (69%), and Shiba Inu holders (62%), continue to track their green investments.
This stands in stark contrast to other sectors of the cryptocurrency market where investors are experiencing losses, including those in Cardano (ADA), Polygon (MATIC), and Litecoin (LTC).
At the moment, Dogecoin is valued at $0.16, representing a 24-hour increase of 6.42%. In the same way, Shiba Inu and Pepe have both gained value, with SHIB increasing by 6.22% to $0.000022 and PEPE by 6.23% to $0.000005.
This recent increase is indicative of a more widespread fascination with meme coins, which persistently draw the attention of investors seeking opportunities that offer substantial returns at high risk.
