Memecoins
PEPE Becomes Most Profitable Meme Coin, But What About Shiba Inu (SHIB)?
Gamza Khanzadaev
PEPE has become the most profitable coin, eclipsing Shiba Inu (SHIB) and sparking controversy over SHIB’s price decline.
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PEPEthe famous frog-themed meme cryptocurrency, has become the most profitable among major meme coins, according to recent data from In the block. With a staggering 90% return this month, over 96% of PEPE holders are currently making profits, making it unique in the meme coin market.
IntoTheBlock’s Global In/Out of the Money indicator provides a detailed breakdown of PEPE performance. Currently, 91.59% of PEPE addresses, or 227,990 holders, are beneficiaries. Another 5.32%, or 13,250 addresses, are break-even, with a current price of around $0.0000144 per token.
However, 7,680 addresses, or 3.09% of holders, suffer losses after purchasing PEPE at prices ranging from $0.000016 to $0.000033.
SHIB vs. PEPE
Barely three months ago, PEPE was neck and neck with Shiba Inu (SHIB) in profitability. Today, PEPE has pulled ahead, leaving SHIB holders in a more difficult position.
Source: In the block
The data shows that 63.08% of SHIB addresses, or 846,450 holders, are currently beneficiaries. On the other hand, 32.93%, or 441,890 addresses, are in loss, as the price of SHIB has fluctuated between $0.000027 and $0.000139. The remaining 3.99%, or 53,530 addresses, are in balance.
The contrasting fortunes of these two meme coins have also triggered significant moves in the market. Recently, Lookonchain reported a notable transaction in which an investor withdrew 67 billion PEPE, valued at $1.02 million, from OKX.
This same investor had already suffered a substantial loss of $2.55 million in SHIBafter buying high during the bull market and selling at a significant loss during the bear market.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to participate in covering economic and financial technology topics, as well as making more people aware of cryptocurrencies and blockchain.