Dogecoin Profitability Rises To 75% As Shiba Inu Plunges To 52%
2024年6月28日 - 2:30AM
NEWSBTC
Dogecoin and Shiba Inu have had similar price action in the past
few weeks, but their respective holders have had different things
to discuss. As two of the most popular meme coins, Dogecoin and
Shiba Inu seem pretty similar at first glance. Particularly, their
price movements in the past few weeks have left many holders
disappointed amidst a wider decline among top cryptocurrencies.
However, on-chain data suggests SHIB holders might be feeling the
heat the most, as the number of addresses in losses has surged
recently to almost half of the total addresses. Comparing Dogecoin
And Shiba Inu’s Profitability Both DOGE and SHIB are currently
experiencing negative price performance in the past 24 hours and
seven days. However, the discrepancy between the two is the number
of addresses that have slipped into losses during this price
decline. According to IntoTheBlock’s profitability metric, the
current decline is still not as daunting for DOGE holders.
Related Reading: Triangle Formation That Sparked The 2017 XRP Rally
Returns, What’s The Target? IntoTheBlock’s profitability metric
follows wallets that are “in the money,” “at the money,” and “out
of the money.” “In the money” tracks those making a profit at the
current price, while “out the money” tracks those in losses.
Comparing the two assets using this metric shows that around 75% of
DOGE addresses are still in profit, in contrast to 52% of SHIB
addresses. Furthermore, 48% of SHIB addresses are currently
in losses, far higher than 23% of DOGE addresses in losses. Lastly,
119,380 DOGE addresses, representing 2% of the total are currently
“at the money” at an average price of $0.1245. Around 7,630 SHIB
addresses, representing 1% of the total addresses, are “at the
money” at an average price of $0.000017. Decoding Recent Price
Action At the time of writing, DOGE is trading at $0.123, down by
1.2% and 1.98% in the past 24 hours and seven days, respectively.
SHIB is trading at $0.00001713, down by 2.05% in 24 hours and 7.56%
in the past seven days. Interestingly, DOGE whales have taken
the price decline as an opportunity to increase their holdings.
On-chain data regarding DOGE balance across various exchanges
suggests whales are accumulating. Related Reading: Bitcoin Crash
Not Done: CoinShares Analyst Predicts ‘True Correction’ Amid
Outflows Dogecoin has proven itself to be the top meme coin for
holders over the long run. This is due to its larger community, its
status as the king of meme coins, and a higher number of whales and
devout investors waiting to increase their holdings at any given
opportunity. Consequently, DOGE has always managed to perform
better during intense price declines. While Shiba Inu has
closely followed behind in terms of growth, the meme coin is still
yet to gain a following as huge as Dogecoin. However, the future
remains bright for both meme coins. Featured image created
with Dall.E, chart from Tradingview.com
Dogecoin (COIN:DOGEUSD)
過去 株価チャート
から 8 2024 まで 9 2024
Dogecoin (COIN:DOGEUSD)
過去 株価チャート
から 9 2023 まで 9 2024