Dogecoin Vs Shiba Inu Vs Pepe: How Do The Top Memecoins Compare In Investor Profits?
2024年9月12日 - 1:00PM
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Here’s what on-chain data reveals regarding the profitability of
the different segments of the Dogecoin, Shiba Inu, and Pepe
investors. Dogecoin, Shiba Inu, & Pepe Compared In Terms Of
Investor Profits In a new insight post, the on-chain analytics firm
Santiment has discussed how the three biggest memecoins in the
sector, DOGE, SHIB, and PEPE, have been doing in terms of different
indicators. Among these, one of the metrics that the analytics firm
has talked about is the Market Value to Realized Value (MVRV) Ratio
Intraday, which tells us about the percentage of profit or loss the
investors hold right now. Related Reading: Bitcoin Recovery: Has
BTC Prevented A Fall To $41,000 With This Surge? When the value of
this metric is greater than 0%, it means the overall market is in a
state of profit. On the other hand, the indicator being under this
cutoff suggests the holders are carrying a net loss. In the context
of the current topic, the MVRV Ratio Intraday of the entire market
isn’t of interest but rather that of two specific segments: the
30-day and the 365-day investors. The MVRV Ratio Intraday for the
30-day investors would naturally only keep track of the
profitability of the addresses who bought their coins within the
past month. Similarly, the 365-day version of the metric would tell
us about the profit/loss status of the buyers from the past year.
Now, here is first the trend in these two indicators for the
original memecoin, Dogecoin, over the past year: As displayed in
the above graph, the Dogecoin MVRV Intraday for the 30-day
investors currently has a value of just 1.7%, which means this
cohort is only slightly in the green. Usually, the long-term
holders enjoy higher profits than those who recently bought, but in
the case of DOGE, it’s the reverse right now. The investors who
bought during the past year are in the red, with their holdings
being almost 21% underwater. “With prices dropping significantly
since its top in mid-April, there is an argument for a price
rebound to bring this long-term deficit back to break-even,” notes
Santiment. Dogecoin’s rival, Shiba Inu, has been doing even worse
in these metrics, with both classes of investors being in loss. The
30-day Shiba Inu investors are holding their tokens at a slight
loss of 1%, while the 365-day buyers are more than 31% below their
average cost basis. Related Reading: Analyst Eyes 7% Dogecoin
Jump—Will It Smash The $0.15 Barrier? Interestingly, Pepe’s
situation is opposite to that of SHIB and DOGE, with the memecoin’s
long-term holders having their patience rewarded. The monthly
investors are down around 0.8% for PEPE, while the yearly ones are
enjoying gains of almost 24%. According to the analytics firm, this
indicates “there is still a bit of profit that patient traders may
need to wait to see evaporate before there is a clear buy signal.”
DOGE Price When writing, Dogecoin is trading around $0.988, down
almost 4% in the last 24 hours. Featured image from Dall-E,
Santiment.net, chart from TradingView.com
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