Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Data analytics from IntoTheBlock paint a bleak picture for Shiba Inu SHIB/USD investors. A mere 25% of SHIB holders are currently profiting, while 71% are experiencing investment losses. 

What Happened: According to IntoTheBlock, Dogecoin DOGE/USD depicts a slightly more optimistic picture compared to SHIB. 

With current prices, 57% of DOGE holders are in profit, against SHIB’s 25%. A notable 39% of DOGE investors are experiencing a loss, showing a smaller proportion than SHIB’s 71%. Additionally, 4% of DOGE investors are at break-even.

Why It Matters: The commitment of investors is evident in both camps. Dogecoin holders match Shiba Inu investors in loyalty, with respective 72% and 73% sustaining their positions for over a year. 

The statistics for medium-term holders (1-12 months) and new entrants (<1 month) are also comparable, hinting at a similar investor behavior pattern for both meme coins.

On The Flip Side: While Dogecoin exhibits a healthier financial status among its holders, Shiba Inu shows a competitive advantage in other areas. 

SHIB’s transactional value for significant trades over $100K surpasses that of DOGE over the past seven days, indicating more considerable large-scale investor interest or movement. This could signify a potential for growth or increased liquidity that might benefit SHIB in the long run.

Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga's Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won't just be a passive spectator. Don't let this chance slip away – secure early bird discounted tickets now!

Community Engagement and Market Presence: Both Dogecoin and Shiba Inu have seen minimal change in Telegram members, with DOGE at a 0.05% increase over the past week, suggesting a period of stability within their communities. 

Simultaneously, the transaction demographics disclose a more Western-centric engagement for Dogecoin, with a 55% to 45% split between West and East. This could reflect the influence of Western media and notable endorsements by entrepreneurs such as Elon Musk on DOGE’s prominence.

Market Moves: As per the latest figures from Benzinga Pro, DOGE is currently priced at $0.075, while SHIB stands at $0.000008629, experiencing a 2.24% and 2.03% dip, respectively, over the past day.

Photo by Dennis Diatel on Shutterstock

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?