As a seasoned researcher with years of experience in the cryptocurrency market, I find it fascinating to dissect and analyze data from various perspectives. In this case, comparing the profitability of different segments of Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe investors is particularly intriguing.
This analysis of on-chain data sheds light on the profitability differences among Dogecoin, Shiba Inu, and Pepe investors’ various sectors.
Dogecoin, Shiba Inu, & Pepe Compared In Terms Of Investor Profits
In their latest analysis piece, the digital analytics company Santiment delves into the performance of the top three meme-based cryptocurrencies – Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) – using various key performance metrics.
One of the key metrics mentioned by the analytics firm is the Intraday Market Value to Realized Value (MVRV) Ratio, a tool that indicates the current level of profit or loss held by investors as a percentage.
If the percentage of this metric exceeds zero, it indicates that the overall market is experiencing profits. Conversely, when the indicator falls below this threshold, it signals that the owners are currently faced with a collective loss.
For the subject at hand, it’s not the MVRV Ratio Intraday for the whole market that matters, but instead, we focus on the MVRV Ratios for two distinct categories: short-term (30-day) and long-term (365-day) investors.
The MVRM (Moving Average Realized Value) Ratio for short-term investors (those investing in the last 30 days) will primarily focus on determining the profitability of the addresses that recently purchased their coins within this timeframe. On the other hand, the long-term version of this metric (1 year MVRM Ratio) would help us comprehend the current profit or loss status of those investors who made purchases over the past year.
To start off, let me share with you the trajectory that the Dogecoin, our initial meme coin, has taken over the past twelve months:
According to the graph, the 30-day Dogecoin MVRV Intraday stands at 1.7%. This implies that these investors are barely making a profit, as they’re merely slightly in the green.
As a crypto investor, I’ve found that patience often pays off when it comes to long-term investments, but something unusual is happening with Dogecoin (DOGE). Unlike traditional scenarios where long-term holders reap the benefits, those who jumped on the DOGE bandwagon over the past year find themselves in a tough spot. In fact, my own holdings have dipped about 21%, making for a less than ideal situation.
According to Santiment, since prices have dropped substantially from their peak in mid-April, there’s a case to be made that a price increase could help balance out this prolonged deficit and return it to a break-even point.
In contrast to Dogecoin, its competitor Shiba Inu is faring poorly across these key indicators, resulting in losses for both retail and institutional investors.
30-day Shiba Inu investors are currently holding onto their tokens with a minor 1% decrease, whereas long-term investors who bought over the past year (365 days) are seeing an average drop of about 31% from their initial purchase price.
Remarkably, Pepe’s case differs from SHIB and DOGE, as those who have held onto these meme coins for a longer period are now reaping the benefits.
Monthly investors in PEPE have seen a dip of about 0.8%, whereas annual investors are reaping rewards close to 24%. According to the analytics firm, this suggests that some additional profits might dissipate for patient traders before a strong ‘buy’ signal becomes evident.
DOGE Price
When writing, Dogecoin is trading around $0.988, down almost 4% in the last 24 hours.
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2024-09-12 07:16