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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