Dogecoin (DOGE) dog-themed meme token is outperforming the rest of the altcoin market on a key metric.
Blockchain analytics firm IntoTheBlock says that a higher percentage of DOGE holders have stayed in the green compared to holders of other altcoins.
In a new tweet, IntoTheBlock analysts say at least 40% of DOGE holders have consistently stayed afloat and the last time 60% of meme token holders went red was in 2015.
“Hold on to your seats DOGEArmy! DYK [Did you know] that DOGE holders in profits rarely fall below 40%? In fact, the last time Dogecoin saw more than 60% loss holders was in 2015. Impressive, given that other altcoins often suffer more than 90% losses in bear markets.”
Source: IntoTheBlock/Twitter
Dogecoin is worth $0.0800 at the time of writing.
IntoTheBlock analysts also say that Litecoin (LTC) has had an impressive rally and that has resulted in most of its holders staying afloat.
“Litecoin has seen increased gains for its holders, with over 52.89% currently in the money! This indicator can tell a lot about possible top and bottom formations, so let’s take a look at it.”
in the block says that Litecoin holders have enjoyed an impressive turn of fortune. In the past, there were times when 85% of Litecoin holders were in the red.
“It is important to note that LTC’s all-time lows have been around 85% of holders at a loss. This happened in 2015, 2018, 2019, 2020 and most recently in 2022. So is it just from here?
in the block warns investors that LTC may fall again. But the analysts of the group say Litecoin’s recent rally bodes well for the future of the token.
“While Litecoin may have reached its bear low, past bear markets have seen Litecoin revisit these levels frequently, so caution is still advised.
Still, the recent surge in earnings for LTC holders is definitely a promising sign for LTC and signals that this old classic is still in the game.”
Litecoin is trading at $94.36 at the time of writing.
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source: dailyhodl.com