Most Dogecoin owners did not buy Elon Musk’s top.

Elon Musk's favorite cryptocurrency is far from its 2021 high of $0.73. But for most Dogecoin Holders, there's little reason to tuck their tails between their legs.

Some 77% of Dogecoin (DOGE) holders are in the money – which means the value of the cryptocurrency is relative to what people were buying it for – as to TheBlock. 21% of Dogecoin holders posted paper losses, leaving 2% of holders at the time of collection.

The main meme coin with a capitalization of 20 billion dollars was created in 2013 as a jokeBut it has Semi-hard position In the heart of the CEO of Tesla. Based on a popular meme featuring a Shiba Inu dog, a cadre of dog-themed coins are constantly springing up in Dogecoin's wake.

Although Musk's Dogecoin posts on Twitter have mostly faded away from the excitement. motivation The rise of Dogecoin in 2021. DOGE set its all-time high of $0.73 early on May 8, 2021—just hours before Musk's appearance on “Saturday Night Live.” Memcoin investors prayed that his popular hosting role would boost DOGE, perhaps to the mythical $1.00 mark.

Instead, the opposite happened. The token More than 20% sealed In an hour, Elon and his mom joked about Dogecoin and joked that there was “chaos” on the show's “Weekend Update” segment. He has not returned since.

Although some believe that memes are coins Disrupting the long-term vision crypto, meme coin mania It can lead to some traders Excessive returns. For others, you can make a risky bet. Sour quickly When the crypto market fluctuates with the volatility of the hall.

Over the past day, Dogecoin's price has risen 5% to $0.14, as of writing CoinGecko. Still, the cryptocurrency's price has fallen 21% over the past 30 days—especially from its multi-year high of $0.22 in March.

When it comes to the amount of paper profit for holders, however, Dogecoin does not seem to be the top dog compared to other meme coins that boast a four-legged mascot. That title is currently the Ethereum-based mime coin Floki, with 83% of holders in the fund.

Towards the tail end of the pack, 60% of Shiba Innu ( SHIB ) holders have profits on paper. (IntoTheBlock does not report data on Solana-based DogWifHat or Bonk.) Meanwhile, 75% of meme coin pepe owners are green.

Drawing on everything from pop culture to internet memes – and even more Death of famous people-Memcoins are a distinct subgroup of digital assets that are not often issued without utility. Instead, they move mostly by vibration. But sometimes they do It will disappear completely.

Edited by Andrew Hayward.