thecryptobasic.com
Dogecoin leads in investor profitability among top memecoins, beating rivals such as Shiba Inu (SHIB), Floki (FLOKI), Mog Coin (MOG) and Pepe (PEPE).
This is according to insights from IntoTheBlock. The blockchain analytics platform published the data today in an X post, highlighting the percentage of holders of top memecoins in profit.
Dogecoin Leads Ranking
Topping the ranking is Dogecoin, the world’s biggest memecoin by market capitalization. According to IntoTheBlock data, a whopping 72.75% of all DOGE holders are currently making money on their investments.
This suggests that 72.75% of all DOGE holders acquired the token below the current price of $0.103366. With 72.75% of all DOGE holders currently in profit, the remaining 27.25% are either at a loss or breakeven.
Performance of Other Memecoins
Meanwhile, Dogecoin is closely followed by Floki, which has 70.42% of its holders in profit. At press time, FLOKI trades at $0.000117, thus suggesting that over 70% of all holders bought the token at a lower price.
In addition, Mog Coin sits in the third spot, with 61.48% of all MOG holders currently in profit at the current price of $0.00000123.
Ranked in the fourth position is Pepe. This token boasts a record of 56.06% holders in profit. Per the data, Shiba Inu, the second-biggest memecoin by market cap, sits at the bottom of the ranking. Notably, only 46.3% of all SHIB holders are making money at the current price of $0.00001367.
Memecoin Investors Witness Gains Despite Market Downturn
The development comes amid a massive collapse in the crypto space. The prices of several crypto assets have plummeted heavily since the beginning of this month. At press time, the global crypto market cap was down 1.8% in the past 24 hours to $2.09 trillion.
Although the massive collapse witnessed across the broader crypto market, several holders of top memecoins, like DOGE, FLOKI, and PEPE, are still in profit, as reflected in IntoTheBlock’s data.
This development may seem surprising, given that little is expected from assets with memecoin origins.