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Most investors who bought memecoins Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) continue to stay in profit despite a correction sweeping the crypto market, according to analytics firm IntoTheBlock.
Following Bitcoin’s (BTC) correction from $72,750 to a low of $61,079 last week, data from IntoTheBlock shows that 85% of DOGE holders are still in profit.
Meanwhile, more than half, or 62% of SHIB owners are seeing gains. Only 36% have negative returns and 2% have neither gains nor losses.
Of the PEPE holders, 69% are profitable, 28% are underwater and 3% are at break-even point.
Dogecoin is now trading for $0.16, up by 6.42% over the last 24 hours. SHIB is currently worth $0.000022, up by 6.22%, and PEPE is trading for $$0.000005, up by 6.23%.
Outside of the memecoin sector, many investors are sitting on losses, including holders of Cardano (ADA), Polygon (MATIC) and Litecoin (LTC).
According to IntoTheBlock, only 39% of ADA holders are in profit while 55% are losing money and 6% are breaking even. Of the MATIC owners, 14% are in the green territory, 80% are in the red and 6% are neither gaining nor losing profits.
As for Litecoin investors, 37% are in profit, 49% are sustaining losses and 14% are breaking even.
Cardano is now trading for $0.46, up by 4.69%. Polygon is currently worth $0.70, up by 8.76%, and Litecoin is trading at $79.05, up by 2.86%.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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