Comparing Dogecoin and Shiba Inu\'s Profitability

Both DOGE and SHIB are currently experiencing negative price performance in the past 24 hours and seven days. However, the discrepancy between the two is the number of addresses that have slipped into losses during this price decline.

Dogecoin and Shiba Inu have both seen a decline in price recently, but SHIB seems to be struggling more, with nearly half of its total addresses now in losses.

Both Dogecoin (DOGE) and Shiba Inu (SHIB) are currently trading at a loss over the past 24 hours and seven days. However, comparing the two assets shows a clear disparity in the number of addresses that have slipped into losses during this price decline.

According to IntoTheBlock’s profitability metric, the current decline is still not as severe for DOGE holders.

IntoTheBlock’s profitability metric tracks wallets that are “in the money,” “at the money,” and “out of the money.” “In the money” tracks those making a profit at the current price, while “out the money” tracks those in losses.

Comparing the two assets using this metric shows that around 75% of DOGE addresses are still in profit, in contrast to 52% of SHIB addresses.

Furthermore, 48% of SHIB addresses are currently in losses, far higher than 23% of DOGE addresses in losses. Lastly, 119,380 DOGE addresses, representing 2% of the total, are currently “at the money” at an average price of $0.1245. Around 7,630 SHIB addresses, representing 1% of the total addresses, are “at the money” at an average price of $0.000017.

Both DOGE and SHIB are still trading at a loss over the past 24 hours and seven days. SHIB is performing worse than DOGE, and on-chain data shows that a large portion of SHIB addresses are now in losses.

At the time of writing, DOGE is trading at $0.123, down by 1.2% and 1.98% in the past 24 hours and seven days, respectively. SHIB is trading at $0.00001713, down by 2.05% in 24 hours and 7.56% in the past seven days.

Interestingly, DOGE whales have used the price decline as an opportunity to increase their holdings. On-chain data regarding DOGE balance across various exchanges suggests that whales are accumulating.

Dogecoin has proven itself to be the top meme coin for holders over the long run. This is due to its larger community, its status as the king of meme coins, and a higher number of whales and devout investors waiting to increase their holdings at any given opportunity. Consequently, DOGE has always managed to perform better during intense price declines.

While Shiba Inu has closely followed behind in terms of growth, the meme coin is still yet to gain a following as huge as Dogecoin. However, the future remains bright for both meme coins.

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