PEPE Has 80% Of Holders In Profit: How It Compares To DOGE & BTC

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As a crypto investor with some experience under my belt, I find the data shared by IntoTheBlock quite intriguing. The fact that Pepe, a memecoin, has 80% of its holders in profit is an impressive feat. It indicates a strong community and potential for further growth.

As a researcher studying on-chain data, I’ve discovered that approximately 80% of Pepe coin holders are currently experiencing profits. Let’s examine how this compares to the likes of Dogecoin and Bitcoin.

PEPE Is Among The Coins With The Highest Profitability Ratio Right Now

As a market analyst, I’d like to bring your attention to a recent insight published by IntoTheBlock on their platform. In this post, they have presented an intriguing chart comparing the top cryptocurrencies based on the percentage of holders who are currently sitting on net unrealized profits. This data can provide valuable context for understanding current market dynamics and potential trends in the crypto space.

An analytics company has derived these figures using blockchain data. By examining the history of every transaction for each address within a specific network, it’s possible to identify the price point and amount of coins each recipient obtained. With this information, an average purchase price can be computed.

In simpler terms, individuals whose cost basis is lower than the present market price for their cryptocurrency investments are currently making a profit. These profitable holders will be factored into the total number of profitable accounts on the blockchain.

Check out this chart shared by IntoTheBlock. It demonstrates the current status of this metric for several assets within the sector.

PEPE Has 80% Of Holders In Profit: How It Compares To DOGE & BTC

Bitcoin (BTC) currently outshines other leading cryptocurrencies in profitability, boasting a ratio above 89%, as evidenced by over 89% of its holders having realized gains. Ethereum (ETH), the second largest coin by market capitalization, follows closely behind, with approximately 83% of its addresses reflecting profits.

There’s not a large difference between them at the moment, and the analysis conducted by the analytics firm indicates that the introduction of Ethereum spot ETFs could potentially propel the asset to fresh peak levels.

As a researcher examining the current state of cryptocurrency investments, I’ve discovered that Tron (TRX) is the third most favorable coin among investors, with approximately 82% currently experiencing profits. Surprisingly enough, two meme coins occupy the remaining spots in the top five. However, it’s important to note that Dogecoin (DOGE), the pioneering and largest meme-based token, does not appear on this list.

As a crypto investor, I’ve noticed that when it comes to memecoins like PEPE (with approximately 80% of its holders in profitable positions) and FLOKI (around 77%), their communities are doing fairly well. In comparison, DOGE has a slightly lower percentage of holders above water at around 75%.

As a crypto investor, I’ve noticed from my analysis using IntoTheBlock that the current market situation seems to favor large-cap and meme coins in terms of profitability. However, there are several altcoins that appear to be on the verge of major breakthroughs but have yet to show significant gains.

What is the importance of coin holders who have incurred profits in the cryptocurrency market? Typically, investors who are making a profit from their investments are more inclined to sell their assets. Consequently, the likelihood of a large-scale selling event rises as an increasing number of holders realize gains on their investments.

With a higher proportion of profitable addresses, it becomes more likely that corrections will be avoided or mitigated for certain cryptocurrencies. In other words, less profitable coins such as Dogecoin and Pepe might continue to gain value at a faster pace compared to a dominant coin like Bitcoin before reaching a potential plateau.

PEPE Price

At present, Pepe is being exchanged for approximately $0.00001126 per unit. Over the past week, its value has decreased by over 8%.

PEPE Has 80% Of Holders In Profit: How It Compares To DOGE & BTC

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2024-06-21 04:16