IntoTheBlock, a prominent crypto analytics company, recently published a report that highlights the impressive resilience of various memecoins in the face of a general downturn in the crypto market. The report reveals that certain memecoins not only survived but thrived, with a majority of their holders remaining profitable.
The analytics provided by IntoTheBlock offer a comprehensive view of the performance of these coins, showing a surprising defiance of the broader market trends.
This resilience is particularly noteworthy considering the typically speculative and volatile nature of memecoins. Unlike traditional cryptocurrency investments, memecoins are often influenced by social media trends and celebrity endorsements rather than more conventional metrics.
A chart provided in the report illustrates the percentage of profitable holders across different memecoins. Despite the general market downturn, many memecoins still have a significant portion of their holders making profits.
According to IntoTheBlock’s report, Mog Coin ($MOG) and Pepe ($PEPE) are leading the memecoin market with the highest percentages of profitable holders, registering at 85.5% and 78.53% respectively. These coins have not only managed to retain their holders’ investments but also increase them, which is an impressive accomplishment given the widespread market corrections.
Floki ($FLOKI) and Dogecoin ($DOGE) closely follow, with 78.41% and 75% of their holders making profits, respectively. These figures highlight the strong trust within the community and ongoing investor interest, underscoring the unique appeal of memecoins in the broader crypto narrative. Dogecoin, in particular, stands out for maintaining a solid base of profitable holders, likely supported by its long-standing presence and frequent media attention.
Further analysis reveals that even lesser-known coins like Wojak ($WOJAK) and Turbo ($TURBO) have a substantial portion of their holders making profits, at 73.9% and 43.06% respectively. This indicates a broader trend where emerging memecoins can quickly gather a profitable following, emphasizing the dynamic and rapidly changing landscape of this market segment.
However, not all memecoins are faring as well. Turbo ($TURBO) and Volt Inu ($VOLT) have less than half of their holders in profit, at 29.44% and 18.57% respectively. This variation in profitability among different memecoins provides deeper insights into market behaviors, where community engagement, tokenomics, and market positioning play crucial roles in determining the success and profitability of these cryptocurrencies.
Tags: DOGE, FLOKI, PEPE
