While most owners of the meme token Dogecoin (DOGE) are profitable, most owners of the rival meme token Shiba Inu (SHIB) are in the red despite the rising cryptocurrency market.
According to blockchain analytics firm IntoTheBlock, 59% of DOGE holders are make a profit 35% do not.
On the other hand, 56% of SHIB holders underwater Only 25% keep their heads above the water.
Both tokens increased in value as part of a larger crypto market rally this week.
DOGE is up nearly 12% over the past week. As of this writing, DOGE is trading at $0.0799.
SHIB plunged nearly 17% from last week’s low. At the time of writing, SHIB is trading at $0.00000941.
Both meme tokens have also experienced notable activity recently.
DOGE is the fourth most commonly used crypto payment on leading crypto payment processor BitPay as of December 2022, accounting for 9.8% of transactions. Bitcoin (BTC) tops the list, followed by Litecoin (LTC) and Ethereum (ETH).
SHIB recently announced a partnership with luxury company Bugatti Group to launch Shiboshis, a non-fungible token (NFT) dedicated to the Shiba Inu ecosystem.plans for the pair possession “Mint Party” on January 14th.
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