Dogecoin Leads Meme Coins With 42% of Its Holders in Profit: Report

Blockchain data analytics platform IntoTheBlock, in a recent report, revealed that 42% of popular meme coin Dogecoin holders are in profit. The report which compares the top 6 popular meme coins shows that $DOGE has the highest percentage of holders in profit.

Notably, the report analyzes the top 6 meme coins, including Dogecoin ($DOGE), Pepe ($PEPE), Doge Killer (LEASH), Dogelon Mars ($ELON), Shiba Inu ($SHIB) and Floki ($FLOKI). In addition to checking the percentage of holders in profit, the report also showed the whales concentrations on each of the networks.

According to the report, 44% of $DOGE tokens are owned by whales. The meme coin is the 8th ranked cryptocurrency by market cap and the largest meme coin network. Data from CoinMarketCap show that $DOGE has added a 0.38% gain in 24 hours, but dropped 15% in trade volume.

Popular meme coin $PEPE has 21% of its holders in profit, per the report. Furthermore, 49% o the tokens are owned by whales. The meme coin also suffered from the downturn that has wiped billions off the crypto market. However, $PEPE’s price has recorded a 1% gain in 24 hours.

The report revealed Doge Killer has 19% of its holders in profit, and 42% of the tokens owned by whales. The token has however recorded heavy losses in recent days. Price chart data shows the LEASH’s trade volume has dropped by 77% in the past 24 hours.

Furthermore, the report list Dogelon Mars and Shiba Inu as the fourth and fifth meme coins based on holders in profit. While Dogelon has 14% of its holders in profit, Shiba Inu has 11%. Floki has 10% of its holders holding profitably, and 59% of its tokens held by whales.

Despite recent efforts by the Shiba Inu team, the token has struggled to hit any remarkable performance lately. Data shows that $SHIB has added a marginal gain of 0.23% in the past 24 hours. On the other hand, $FLOKI added a 2.56% within the same period.