What about Shiba Inu (SHIB)?

TL;DR

DOGE and PEPE are among the meme coins whose holders are predominantly in the green. SHIB is in the opposite corner with more than 50% of its investors sitting on some paper losses. DOGE leads the pack

The meme coin sector witnessed a huge resurgence earlier this year, with a market capitalization exceeding $60 billion. Despite falling back to the current $40 billion, the niche is still full of tokens that have brought profits to numerous traders (at least on paper).

Data from IntoTheBlock shows that Dogecoin (DOGE), the largest meme coin, takes the top spot in this ranking. More than 72% of its holders are currently on the green, while 25% are underwater. DOGE is among the cryptocurrencies that are primarily held for the long term. The latest figures show that 67% jumped on the bandwagon more than a year ago, with only 2% doing so in the past month.

Next in line is another dog-themed asset: Floki Inu (FLOKI). About 70% of their investors are basing themselves on paper profits, while 27% are posting some losses.

Third place belongs to Mog Coin (MOG), with 61% of holders currently in the money. It has been one of the best-performing cat-related meme coins, climbing the crypto ladder in recent months. Currently, MOG’s market cap is over $500 million, making it the 125th largest in the entire industry.

Pepe (PEPE) ranks fourth, with about 56% of holders seeing an increase in their initial investments. The thematic token of the frog has been one of the sensations of this bullish cycle, which reached a new all-time high price at the end of May. Since then, however, PEPE has retreated by approximately 50%.

What about SHIB?

The second largest meme coin experienced a significant price increase in March of this year, making more than 63% of its holders profitable. However, the subsequent decline in the following months has changed the situation. Currently, 46% of SHIB’s investors are in the green, while more than 50% are underwater.

Other meme coins whose holders are predominantly in red include Bone (BONE), Coq Inu (COQ), Dogelon Mars (ELON), and MAGA (TRUMP). The Donald Trump-themed token is down more than 80% from its peak in June, with nearly 87% of its investors sitting on some paper losses.

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