Most investors who bought memecoins Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) continue to stay in profit despite a correction sweeping the crypto market, according to analytics firm IntoTheBlock.
Following Bitcoin’s (BTC) correction from $72,750 to a low of $61,079 last week, data from IntoTheBlock shows that 85% of DOGE holders are still in profit.
Meanwhile, more than half, or 62% of SHIB owners are seeing gains. Only 36% have negative returns and 2% have neither gains nor losses.
Of the PEPE holders, 69% are profitable, 28% are underwater and 3% are at break-even point.
Dogecoin is now trading for $0.16, up by 6.42% over the last 24 hours. SHIB is currently worth $0.000022, up by 6.22%, and PEPE is trading for $$0.000005, up by 6.23%.
Outside of the memecoin sector, many investors are sitting on losses, including holders of Cardano (ADA), Polygon (MATIC) and Litecoin (LTC).
According to IntoTheBlock, only 39% of ADA holders are in profit while 55% are losing money and 6% are breaking even. Of the MATIC owners, 14% are in the green territory, 80% are in the red and 6% are neither gaining nor losing profits.
As for Litecoin investors, 37% are in profit, 49% are sustaining losses and 14% are breaking even.
Cardano is now trading for $0.46, up by 4.69%. Polygon is currently worth $0.70, up by 8.76%, and Litecoin is trading at $79.05, up by 2.86%.
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