A recent report from IntoTheBlock, a prominent crypto analytics company, has shed light on the resilience of several memecoins in the face of a general downturn in the crypto market. The report reveals that certain memecoins are not only surviving but thriving, with the majority of their holders enjoying profits.
The analytics provided by IntoTheBlock offer a detailed analysis of these coins’ performance, showing a surprising resistance to the overall market trends.
This resilience is particularly notable considering the speculative and volatile nature of memecoins, which are often influenced by social media trends and celebrity endorsements rather than traditional metrics that drive other cryptocurrency investments.
A chart provided by IntoTheBlock illustrates the percentage of profitable holders across different memecoins. Despite the market downturn, many memecoins still have a significant number of holders in profit.
The top performers in the memecoin market, according to IntoTheBlock’s latest report, are Mog Coin ($MOG) and Pepe ($PEPE), with 85.5% and 78.53% of their holders currently profiting, respectively. These coins have not only maintained but also increased their holders’ investments, a remarkable achievement given the widespread market corrections.
Floki ($FLOKI) and Dogecoin ($DOGE) follow closely behind, with 78.41% and 75% of their holders in profit, highlighting strong community trust and ongoing investor interest in memecoins.
Even lesser-known coins like Wojak ($WOJAK) and Turbo ($TURBO) have a significant number of profitable holders, at 73.9% and 43.06% respectively, showing a trend where emerging memecoins can quickly attract a profitable following.
However, not all memecoins are performing as well, with Turbo ($TURBO) and Volt Inu ($VOLT) having less than half of their holders in profit, at 29.44% and 18.57% respectively. This variation in profitability among different memecoins underscores the importance of community engagement, tokenomics, and market positioning in determining the success and profitability of these cryptocurrencies.