Shiba Inu (SHIB) and Dogecoin (DOGE) holders near an important milestone: details

TL; DR

Shiba Inu and Dogecoin with millions of owners lead the meme coin sector with many community bases. These types of assets attract investors for their potential for quick profits, although their inherent volatility carries significant risks of loss.

Despite the arrival of strong competitors, Shiba Inu (SHIB) and Dogecoin (DOGE) remain the undisputed leaders in the meme coin realm. The tokens have a total market capitalization of over $45 billion, which represents 70% of the total asset market cap.

DOGE and its biggest rival have experienced severe inflation over the years. Their valuation is currently well in the green, hovering in the triple digits on a two-week scale.

They have been in the market long enough to gather enough community base and investors. According to Into the Block, there are about 1.3 million SHIB addresses and 6.3 million DOGE holders.

Although Pepe Coin (PEPE) performed better last month, it is still behind the leaders. The crypto analysis platform estimated that there are currently 170,000 addresses holding the frog-themed meme coin.

Despite PEPE's impressive performance this month, 170k addresses currently hold $PEPE. This is still significantly less than SHIB's 1.3M and DOGE's 6.3M holders pic.twitter.com/sNKZs3y9MR

— Into TheBlock (@intotheblock) March 10, 2024

Another meme coin that has surpassed PEPE in adoption is FLOKI. The latter has around 500,000 owners in the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains.

Such assets are particularly attractive to investors, especially during bull runs, as their prices can rise within days. Cryptopotato reported the case of SHIB trader and WFIF because it is currently sitting on high paper profits due to this.

However, dealing with memes can result in significant losses due to the volatility known in the sector. If you think about it, I will jump and touch her and let her sit down and make a decision.