The conflict between the meme coins Shiba Inu and Dogecoin is now almost legendary. Like any great competition, these two digital assets had pushed one another to the limit.
Both of them later pulled out as their prices fell, though, as the euphoria surrounding meme coins faded.
Which of these investments has kept its profitability the highest when the market enters another slump, even though both have generated enormous returns for investors?
Dogecoin had sprung from the ashes after the meme stock mania and recorded one of the most incredible rallies the cryptocurrency world had ever seen.
It had essentially taken on a life of its own, encouraged by people like Elon Musk, and from it had come what is now known as the meme coin space.
A few billionaires followed Dogecoin, which rose from roughly $0.02 to more than $0.7, on its upward trajectory.
However, as support waned, Dogecoin started to fall apart in the middle of 2021. The original meme coin has been trending downward ever since other coins sprang up to take market share from it.
However, this does not always mean that the owners of Doge have lost everything. In actuality, the exact opposite.
Also read, The Shiba Inu Ecosystem
Despite Dogecoin’s current price of $0.11, many investors are still making money. According to IntoTheBlock data, the ratio of successful investors to unsuccessful ones is still equal.
2 percent of Doge holders are still in the neutral zone, while 49 percent of all Doge holders are still in the black.
Unquestionably, Shiba Inu is the second-most popular meme coin on the cryptocurrency market. This digital asset’s growth was nothing short of amazing, yet despite recent price reductions, it has maintained its market share. The cryptocurrency’s profitability, nevertheless, pales in contrast to that of rival Dogecoin.
According to IntoTheBlock, the vast majority of SHIB holders are still losing money. This is because, unlike Dogecoin, which had been operating for a while and already had holders, a large percentage of holders bought the coin after it had already started to surge.
Only 38% of SHIB holders are currently making money, leaving a total of 56% in losses. The remaining 5 percent are still in the neutral zone, which indicates that they bought cryptocurrencies at the going rate.
Both of these assets have been a blessing to investors lucky enough to get in early. But by comparison, Dogecoin still remains the better choice given that it has kept a larger percentage of its holders in profit compared to Shiba Inu.
In terms of utility, though, both of these digital assets possess little to none, which does not bode well for the future of either of them.
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