Here is Profitability Comparison of the Top #Memecoins
Recent weeks have been challenging for holders of top meme coins, with significant declines across the board. Dogecoin, PEPE, and Shiba Inu have all experienced substantial price drops, with each asset losing over 20% in the past week. Many holders are now facing losses as their investments dip below profitable levels.
#### Comparing Meme Coin Profitability
Among the top meme coins—Dogecoin, Shiba Inu, and PEPE—recent market trends have been harsh. Long-established Dogecoin and Shiba Inu have seen considerable declines, and even PEPE, a newer entrant, has faced a tough market despite earlier strong rallies.
1. **Dogecoin**: This leading meme coin has dropped 24% in the past week and 41.8% over the past month.
2. **Shiba Inu**: Known as the “Dogecoin killer,” Shiba Inu has fallen 23.5% in the last seven days and 49% in the past 30 days.
3. **PEPE**: This meme-inspired coin has seen a decline of 34.5% over the last week and 45.6% over the past month.
According to IntoTheBlock’s “In/Out of the Money” metric, which tracks wallet profitability, there are notable differences in the current profitability levels of these coins:
1. **Dogecoin**: 54.05% of Dogecoin addresses (3.43 million) are still in profit, while 27.93% (1.77 million addresses) are at a loss.
2. **PEPE**: 58% of PEPE holders (155,810 addresses) are in profit, while 32.36% (86,940 addresses) are experiencing losses.
3. **Shiba Inu**: Only 20.47% of SHIB holders (274,540 addresses) are currently in profit, with a majority of 52.46% (703,700 addresses) facing losses.
#### Buying Opportunities for Meme Coins?
As of now, Dogecoin is priced at $0.1077, Shiba Inu at $0.00001524, and PEPE at $0.000008996. Despite the risk of further declines, these recent significant drops could present buying opportunities for enthusiasts looking to capitalize on lower prices.
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