Can Shiba Inu (SHIB) Become the Next Successful Meme Coin Following PEPE’s Triumph?

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PEPE, the famous frog-themed meme cryptocurrency, has quickly risen to the top spot among popular meme coins in terms of profitability, according to data from IntoTheBlock. Its impressive 90% return this month has resulted in over 96% of PEPE holders making a profit, setting it apart from other meme coins in the market.

IntoTheBlock’s Global In/Out of the Money indicator shows that a majority of PEPE addresses (representing 227,990 holders) are currently profitable, making up 91.59% of the total. Additionally, 5.32% of addresses are at break-even, while a small percentage (3.09%) are experiencing losses, having purchased PEPE at higher prices.

In the past, PEPE and Shiba Inu (SHIB) were close competitors in terms of profitability. However, PEPE has since surpassed SHIB, leaving SHIB holders in a more difficult position. According to data, 63.08% of SHIB addresses (representing 846,450 holders) are currently profitable, while 32.93% are in losses due to fluctuations in SHIB’s price. The remaining 3.99% are at break-even.

The differing fortunes of PEPE and SHIB have also caused significant movements in the market. Recently, there was a significant transaction where a large amount of PEPE (worth $1.02 million) was withdrawn from OKX by an investor who had previously suffered a loss of $2.55 million in SHIB. This investor had bought SHIB at a high price during the bullish market and sold it for a considerable loss during the bear market.

For more information on PEPE’s performance and profitability in comparison to other meme coins, visit IntoTheBlock’s website.