Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Portfolio Pulse from Mehab Qureshi
IntoTheBlock data reveals that 57% of Dogecoin (DOGE) holders are in profit, compared to only 25% of Shiba Inu (SHIB) holders. While 71% of SHIB investors are at a loss, only 39% of DOGE investors are in the same position. Both cryptocurrencies show strong investor loyalty, with over 72% holding for more than a year. SHIB has seen higher transactional value in significant trades, suggesting potential growth. Dogecoin's community remains stable, and its market is more Western-centric, possibly influenced by figures like Elon Musk.
November 14, 2023 | 11:21 am
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NEUTRAL IMPACT
Shiba Inu's lower percentage of profitable holders may negatively impact investor sentiment, but its higher transactional value in large trades could indicate potential for future growth.
While the majority of SHIB holders are at a loss, which could dampen short-term sentiment, the significant transactional value may attract investor interest, balancing the short-term impact on SHIB's price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
With 57% of Dogecoin holders in profit and a more optimistic investment landscape compared to SHIB, DOGE may see a positive sentiment among investors in the short term.
The positive statistics for Dogecoin, including a higher percentage of holders in profit and stable community engagement, may lead to increased investor confidence and a potential uptick in DOGE's price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80