According to CryptoPotato, the recent cryptocurrency market correction has mainly affected many altcoins investors, most of whom have suffered losses. However, those who invested in Meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have been relatively better off as they have suffered fewer losses and benefited from the early price increases. Despite the encouraging performance at the beginning of the year and the Bitcoin (BTC) halving last month, the cryptocurrency market has recently experienced a severe correction. The price of the major cryptocurrency has fallen by 10% and has fallen below the $60K mark. Other major digital assets such as Ethereum (ETH), Solana (SOL), Ripple (XRP), etc. have also fallen sharply.
Market intelligence platform IntoTheBlock has listed the ten cryptocurrency projects where the most HODLers are currently losing money. Investors in Algorand (ALGO) top the list, with 91% of investors losing money. The Sandbox (SAND) and Arbitrum (ARB) follow closely behind, with more than 80% of holders currently losing money. Investors in Cardano (ADA) and Uniswap (UNI) have also joined this ignominious club, losing 60% and 52% respectively.
However, IntoTheBlock suggests that as long as these assets show strong fundamentals and signs of on-chain activity and growth, they offer “tremendous opportunities.” Notably, the above list does not include any meme coins. Digging deeper into IntoTheBlock shows that only 18% of Dogecoin (DOGE) holders are currently losing money. Shiba Inu (SHIB) investors have been slightly more affected, with nearly 40% currently losing money. Most people who invested in Pepe (PEPE) and Floki Inu (FLOKI) are also in profit. The situation looks more optimistic for the meme coin community, as these assets saw significant price increases in the months leading up to the current correction.
