With the lowest percentage of holders in the red, Dogecoin outshines FLOKI and Shiba Inu.

Meme coins, Shiba Inu and Floki, are struggling to recover with the majority of holders currently sitting on unrealized losses. Crypto intelligence tracker data shows that 79.26% of Floki holders and 87.16% of Shiba Inu holders are underwater at the current price level. Dogecoin, on the other hand, has started to recover with a rise in the volume of traders that have held DOGE for over a year. The shift in composition of DOGE holders fuels a bullish thesis for the asset as there is less likelihood of Dogecoin holdings being shed consistently by long-term investors. While the meme coin narrative fades, Shiba Inu and Floki are seeing a rise in speculators or traders that hold the asset for less than six months. The dominance of Dogecoin, both in terms of market capitalization and holder composition, continues to rival with other meme coins.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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