Bitrabo Editorial
The values of Dogecoin, Shiba Inu, and PEPE have risen alongside Bitcoin’s recovery. Nonetheless, the profitability for these meme coins varies, leading to different experiences in terms of gains and losses for investors. In this analysis, we evaluate their profitability to identify the one with the most advantageous return on investment.
Dogecoin Leads in Profitability
As the foremost meme coin, Dogecoin greatly influences investor sentiment in the meme coin sector. A surge in Dogecoin often triggers corresponding movements in other meme coins, fostering wider market growth. Consequently, it remains the preferred option among meme coin investors.
According to the on-chain tracking platform, IntoTheBlock, 72% of Dogecoin investors are currently in profit, while only 27% are experiencing losses, with a small 1% at breakeven. This means that out of 6 million Dogecoin holders, 4.6 million are profiting, versus 1.75 million facing losses, and 68,420 at breakeven, highlighting its edge over Shiba Inu and PEPE in terms of profitability.
PEPE Secures Second Position
Following a strong market performance in July, PEPE’s market capitalization exceeded $3 billion, making it the third-largest meme coin. While it remains significantly behind Shiba Inu, which boasts a market cap over $7.8 billion, PEPE has shown improvement in profitability metrics.
Data from IntoTheBlock indicates that around 300,000 PEPE holders show that 147,090 addresses are profitable, amounting to about 50% of its holders. In contrast, 115,280 addresses are managing losses, accounting for 39.06%. Additionally, 32,790 addresses, or 11.11%, are breaking even.
Shiba Inu Ranks Last Among the Trio
Even though Shiba Inu stands as the second-largest meme coin by market cap, its price has suffered significantly over the past year, undermining investor profitability. IntoTheBlock reports that only 613,400 Shiba Inu holders are currently in profit, indicating that 45.42% are performing positively at this time.
This performance ranks Shiba Inu below both Dogecoin and PEPE, making it the least favorable option among the top three meme coins. A troubling 52.32% of Shiba Inu holders, totaling 706,660 addresses, are currently at a loss, with an additional 30,500 addresses, or 2.26%, holding steady at breakeven.