Dogecoin

Shiba Inu

In 2024, investors are comparing Dogecoin (DOGE) and Shiba Inu (SHIB) to determine which memecoin offers better profit potential.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Cryptos-Headlines-Token-Airdrop-Is-Live-Claim-Your-Reward-Now-1.png?fit&#61;900%2C200&amp;ssl&#61;1" />On February 11, Dogecoin (DOGE) is trading above $0.082, marking an 11% increase from its 2024 low on January 8. Despite the ongoing <a href="https://cryptosheadlines.com/altcoins-rally-25-50-after-ripple-lawsuit-victory/" rel="noopener noreferrer nofollow">altcoin rally</a>, memecoins like DOGE show more than 50% of holders are content to hold. Analyzing profitability, DOGE appears more appealing to <a href="https://cryptosheadlines.com/shiba-inu-investor-retires-at-35-with-53m-profit-in-shib/" rel="noopener noreferrer nofollow">investors compared to competitors like Shiba Inu</a>.<h3 id="dogecoin-s-dominance-in-the-memecoin-market">Dogecoin’s Dominance in the Memecoin Market</h3>In anticipation of the Bitcoin ETF verdict, investors redirected their funds towards Bitcoin (BTC) and major Layer-1 altcoins like Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) to <a href="https://cryptosheadlines.com/solana-overtakes-polygon-securing-the-9th-position-in-market-capitalization/" rel="noopener noreferrer nofollow">capitalize on the market</a> hype. This shift led to a minor pullback in memecoins, with Dogecoin (DOGE) hitting its lowest point of $0.074 on January 8. However, as the enthusiasm surrounding ETF approval subsided, liquidity returned to the memecoin sector.While memecoins like BONK and Shiba Inu garnered media attention recently, on-chain data reveals that Dogecoin remains the top choice for investors. According to IntoTheBlock’s Historical In/Out of the Money chart, over 2.87 million current DOGE holders are currently sitting on unrealized profits as of February 11. This translates to 52.21% of total DOGE investors.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines002-13.png?resize&#61;640%2C288&amp;ssl&#61;1" />Dogecoin (DOGE) Addresses in Profit at Feb 11, 2024 Price | Source: <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group&#61;financials&amp;chart&#61;inAndOut" rel="noopener noreferrer nofollow">IntoTheBlock</a>Conversely, 2.11 million DOGE addresses, comprising 38.45% of the total, are in a net-loss position, while 521,590 addresses (9.35%) are at the break-even point.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Blue-Modern-Profile-Twitter-Header.png?fit&#61;1500%2C500&amp;ssl&#61;1" />In summary, the significant majority of Dogecoin addresses are now profitable. Surpassing the 50% threshold of profitable addresses is generally viewed as a positive sign for a blockchain network, indicating optimism, investor confidence, and potential price appreciation.<a href="https://cryptosheadlines.com/shiba-inu-faces-threat-from-solanas-bonk-and-jup-as-media-attention-rises-by-56/" rel="noopener noreferrer nofollow">Also Read: Shiba Inu Faces Threat from Solana&#39;s BONK and JUP as Media Attention Rises by 56%</a><h3 id="dogecoin-vs-shiba-inu-profitability-comparison">Dogecoin vs. Shiba Inu: Profitability Comparison</h3>In the world of <a href="https://cryptosheadlines.com/huobi-to-list-new-meme-token-following-pepe/" rel="noopener noreferrer nofollow">meme tokens</a>, Dogecoin’s current profitability ratio stands out when compared to its rival, Shiba Inu. With a market capitalization of $5.6 billion as of February 2024, Shiba Inu (SHIB) ranks as the second-largest memecoin.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines003-16.png?resize&#61;640%2C286&amp;ssl&#61;1" />Shiba Inu (SHIB) Addresses in Profit at Feb 11 Price | Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group&#61;financials&amp;chart&#61;inAndOut" rel="noopener noreferrer nofollow">IntoTheBlock</a>However, the profitability ratio of <a href="https://cryptosheadlines.com/shiba-inu-shib-projected-to-surge-by-1300-with-timing-revealed/" rel="noopener noreferrer nofollow">Shiba Inu reveals</a> that only 394,980 (29.79%) of its current investors are currently in profit, with the majority—63.47%—sitting at a loss as of February 11.When the majority of investors are making profits, it creates a positive feedback loop among major stakeholders like whales and miners. This encourages further accumulation activity and drives prices higher.Conversely, when the majority are at a loss, the opposite effect occurs. Investors holding at a loss may be more inclined to sell once prices approach their break-even point, potentially slowing down any <a href="https://cryptosheadlines.com/us-cpi-inflation-at-3-2-potential-rally-for-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">potential rally</a>.<h3 id="dogecoin-vs-shiba-inu-price-correlation-and-future-outlook">Dogecoin vs. Shiba Inu: Price Correlation and Future Outlook</h3>In terms of profitability and market sentiment, Dogecoin appears to hold a stronger position compared to Shiba Inu for 2024. However, it’s worth noting that over the past month, both <a href="https://cryptosheadlines.com/cryptocurrency-price-analysis-doge-shib-and-bonk-january-6/" rel="noopener noreferrer nofollow">SHIB and DOGE prices</a> have shown a close correlation.During this period, both of these leading meme tokens have displayed nearly identical ~13% price recoveries between January 8 and February 11.Looking ahead, as the cryptocurrency market rally continues, Dogecoin bulls may encounter significant resistance around the $0.95 mark. However, breaching this sell-wall could potentially pave the way for a decisive rally above $0.10.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines004-18.png?resize&#61;640%2C232&amp;ssl&#61;1" />Dogecoin (DOGE) vs. Shiba Inu (SHIB) Price Forecast 2024 | Source: <a href="https://www.tradingview.com/x/do5zYdEH/" rel="noopener noreferrer nofollow">TradingView</a><a href="https://cryptosheadlines.com/cryptocurrency-price-insights-bitcoin-avax-dogecoin-and-link/" rel="noopener noreferrer nofollow">Also Read: Cryptocurrency Price Insights: Bitcoin- AVAX- Dogecoin and LINK</a><h3 id="assessing-dogecoin-and-shiba-inu-potential-price-movements">Assessing Dogecoin and Shiba Inu: Potential Price Movements</h3>Dogecoin, with its strong psychological support level at $0.07, has proven resilient over the past year. With an increasing number of DOGE holders in profit, this support level could strengthen even further, making it challenging for bears to break below.On the other hand, investors seeking higher risk opportunities might view <a href="https://cryptosheadlines.com/meme-coin-market-loses-3-2-billion-in-2023-dogecoin-and-shiba-inu-decline/" rel="noopener noreferrer nofollow">Dogecoin as a saturated market compared to Shiba Inu</a>, which could be undervalued with greater potential for significant price swings. If this scenario unfolds, <a href="https://cryptosheadlines.com/shiba-inu-price-flag-pattern-signals-18-breakout-rally/" rel="noopener noreferrer nofollow">Shiba Inu’s price could experience a notable breakout</a> towards $0.000012, as witnessed in December 2023.However, Shiba Inu’s rally could face a significant hurdle at the $0.000011 mark, where a considerable number of SHIB investors are holding at a loss. This could lead to <a href="https://cryptosheadlines.com/nansen-selling-pressure-on-ether-after-shanghai-upgrade-was-insignificant/" rel="noopener noreferrer nofollow">selling pressure</a> at that level, potentially slowing down the rally or triggering another pullback.In the event of a <a href="https://cryptosheadlines.com/stellar-xlm-slumps-13-amid-bearish-sentiment/" rel="noopener noreferrer nofollow">bearish sentiment</a> shift, Shiba Inu bulls could find support around the $0.000008 area. It’s worth noting that SHIB hasn’t traded below $0.000079 for the past five months, <a href="https://cryptosheadlines.com/shibs-past-performance-indicates-potential-double-digit-growth/" rel="noopener noreferrer nofollow">indicating potential</a> stability at this level.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

DOGE vs. SHIB: Most Profitable Memecoin 2024

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