Recent analysis from on-chain analytics firm Santiment sheds light on the profitability dynamics of investors in Dogecoin, Shiba Inu, and Pepe. Santiment evaluated these popular memecoins using various indicators, with a particular focus on the Market Value to Realized Value (MVRV) Ratio Intraday. This metric essentially measures the percentage of profit or loss currently held by investors.
If the MVRV Ratio Intraday value exceeds 0%, it implies that the overall market is in profit. Conversely, a metric value below 0% indicates a net loss among holders. For this analysis, Santiment concentrated on two specific investor segments: those who acquired their coins within the last 30 days and those who bought them over the past year.
When looking at Dogecoin over the past year, the MVRV Intraday for 30-day investors stands at a meager 1.7%, indicating this group is slightly in the green. Interestingly, the scenario flips for long-term holders. Investors who bought Dogecoin within the past year are currently experiencing a significant loss, with their holdings underwater by almost 21%. Santiment suggests the possibility of a price rebound, given the substantial decline since Dogecoin’s mid-April peak, which might return this long-term deficit to break-even levels.
In comparison, Shiba Inu is faring worse for both short-term and long-term investors. The 30-day Shiba Inu investors hold their tokens at a small 1% loss, whereas the 365-day investors are enduring a 31% decline from their average purchase cost.
Contrarily, Pepe presents a more optimistic picture. The memecoin’s long-term holders are reaping the benefits of their patience, enjoying profits of nearly 24%. However, the 30-day investors are slightly down by 0.8%. Santiment interprets this as a signal that there remains some profit for patient traders, which may need to diminish before a clear buy signal emerges.
At the time of reporting, Dogecoin is trading around $0.988, reflecting nearly a 4% drop over the last 24 hours, although the price has been on an upward trend in recent days.
