- DOGE, PEPE, and FLOKI saw price declines of over 18%, 26%, and 21%, respectively, over the last week.
In July 2024, the profitability for DOGE, PEPE, and FLOKI holders was 75%, 78.5%, and 78.4%, respectively.
As a seasoned researcher with years of experience navigating the volatile world of cryptocurrencies, I find myself both intrigued and cautiously optimistic when observing the performance of memecoins like DOGE, PEPE, and FLOKI. The last week has seen them all take a hit, but it’s important to remember that even the most resilient of dogs need to rest sometimes.
Over the past two to three days, there has been a noticeable increase in selling activity across the cryptocurrency market, leading to significant downward pressure.
As someone who has witnessed economic downturns in the past, I can attest to the fact that geopolitical tensions, changes in monetary policy like interest rate hikes by central banks such as the Bank of Japan, and the specter of a potential recession in major economies like the United States, can all be sources of significant concern. These factors can have a ripple effect on global markets, impacting businesses, jobs, and personal finances. It is crucial to stay informed about these developments and make prudent financial decisions accordingly.
Memecoins with the highest profitability
In response to the selling pressure in the crypto market, the on-chain analytic firm IntoTheBlock shared a post on X (formerly Twitter) that gained massive attention from the crypto community.
Regardless of the market’s dip, approximately 7 out of 10 Floki Inu [FLOKI] investors and slightly over 6 out of 10 Dogecoin [DOGE] owners were making a profit at the current moment. Around half of Pepe [PEPE] holders and about 45% of Shiba Inu [SHIB] holders are also seeing profits.
In contrast to this recent trend, memecoins like FLOKI, DOGE, PEPE, and SHIB have suffered significant drops in value during the past week. Specifically, CoinMarketCap reports that these coins have fallen by more than 21%, 18%, 26%, and 17% respectively.
FLOKI, DOGE, PEPE price analysis
Currently, FLOKI is close to $0.000125, marking a 9% decrease in its price over the past day. In contrast, DOGE was around $0.10 and saw a minor 1% drop within the same timeframe.
At the moment of reporting, PEPE‘s trading value was around 0.0000078 dollars, and during this period, it suffered a drop of more than 5%.
By July 2024, when IntoTheBlock disclosed the profitability figures, PEPE was leading the pack, as 78.5% of its holders were already making a profit.
Whereas, FLOKI with 78.41% of holders, and DOGE with 75.00% of holders were on the list.
Read PEPE’s Price Prediction 2024 – 2025
Current market overview
In addition to its current profitability, at the moment, the market is relatively steady because it has experienced a minimal decrease of just 0.45% over the past day.
Currently, I’m observing a slight decrease in the value of some key digital assets. Specifically, Bitcoin [BTC] is dipping by 0.2%, Ethereum [ETH] is seeing a drop of 3%, and Solana [SOL] is experiencing a minor decline of 0.12%.
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2024-08-09 01:43