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PEPE Becomes Most Profitable Meme Coin, But What About Shiba Inu (SHIB)?

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Thu, 30/05/2024 - 15:53
PEPE Becomes Most Profitable Meme Coin, But What About Shiba Inu (SHIB)?
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PEPE, the famous frog-themed meme cryptocurrency, has surged to become the most profitable among major meme coins, according to recent data from IntoTheBlock. With a staggering 90% return this month, over 96% of PEPE holders are currently in profit, making it a standout on the meme coin market.

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IntoTheBlock's Global In/Out of the Money indicator provides a detailed breakdown of PEPE's performance. Currently, 91.59% of PEPE addresses, representing 227,990 holders, are in profit. An additional 5.32% or 13,250 addresses are at breakeven, with a current price of approximately $0.0000144 per token.

However, 7,680 addresses, accounting for 3.09% of holders, are experiencing losses, having bought PEPE at prices ranging from $0.000016 to $0.000033.

SHIB vs. PEPE

Just three months ago, PEPE was neck-and-neck with Shiba Inu (SHIB) in profitability. Now, PEPE has pulled ahead, leaving SHIB holders in a more challenging position. 

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Source: IntoTheBlock

Data shows that 63.08% of SHIB addresses, or 846,450 holders, are currently in profit. In contrast, 32.93%, or 441,890 addresses, are in losses, with SHIB's price having fluctuated between $0.000027 and $0.000139. The remaining 3.99%, or 53,530 addresses, are at breakeven.

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The contrasting fortunes of these two meme coins have also sparked significant movements on the market. Recently, Lookonchain reported a notable transaction where an investor withdrew 67 billion PEPE, valued at $1.02 million, from OKX.

This same investor had previously incurred a substantial loss of $2.55 million in SHIB, having bought high during the bull market and sold at a significant loss during the bear market.

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