Over 60% of Dogecoin Holders in Profit While Majority of Shiba Inu Investors Sitting on Losses: IntoTheBlock

A leading blockchain analytics firm reveals that more than 60% of meme token Dogecoin (DOGE) holders are in profit while the majority of rival meme token Shiba Inu (SHIB) owners are in the red.

According to IntoTheBlock, 63% of DOGE holders are profitable in their investments while 35% are sitting on losses.

Meanwhile, 45% of Shiba Inu holders are in green territory, while 47% are underwater. The rest are at the break-even point.

Dogecoin is trading for $0.0936 at time of writing while Shiba Inu is worth $$0.000014.

Both dog-themed tokens are finding a surge of interest as of late. Dogecoin is showing bullish price action following reports that billionaire Elon Musk, a DOGE supporter, is making moves to introduce crypto payments to Twitter.

Meanwhile, Shiba Inu is planning an imminent launch of the Shibarium protocol, a layer-2 network built on top of Ethereum, similar to Polygon (MATIC).

The majority of the holders of the top two cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), are in the green in their investments, according to IntoTheBlock.

Among Bitcoin holders, 61% are in profit while 35% are underwater.

Bitcoin is worth $23,387 at time of writing.

The picture is similar for the smart contract platform with 62% of ETH holders seeing profits and 36% nursing losses.

Ethereum is trading for $1,656 at time of writing.

Looking at Polygon, 51% of the holders of the Ethereum layer-2 token are in the green while 47% are sitting on losses, per IntoTheBlock.

Polygon is worth $1.23 at time of writing, up about 63% from the start of the year.

Generated Image: Midjourney