Dogecoin outperforms the Altcoin market in one metric, according to Crypto Analytics firm IntoTheBlock
Dog-themed meme token Dogecoin (DOGE) is outperforming the rest of the altcoin market in a key value.
Blockchain research firm IntoTheBlock says a larger percentage of DOGE holders have stayed in the green compared to holders of other altcoins.
In a new tweet, analysts at IntoTheBlock say at least 40% of DOGE holders have consistently stayed above water, and the last time 60% of meme token holders turned red was way back in 2015.
“Hold on to your seats DOGEARmy! DIVE [Did you know] that DOGE holders in profit rarely fall below 40%? In fact, the last time Dogecoin saw over 60% of its owners lose was in 2015. Impressive, given that other altcoins often suffer over 90%+ losses in bear markets.”
Dogecoin is worth $0.0800 at the time of writing.
Analysts at IntoTheBlock too say that Litecoin (LTC) has gone on an impressive rally and which has resulted in the majority of holders staying above water.
“Litecoin has seen an increase in profit for its holders, with over 52.89% currently in the money! This indicator can tell a lot about potential bottom and top formations, so let’s investigate.
IntoTheBlock says that Litecoin holders have had an impressive fortune. In the past, there were times when 85% of Litecoin holders were in the red.
“It is important to note that historical lows for LTC have been around 85% of owners with losses. This happened in 2015, 2018, 2019, 2020 and most recently in 2022. So, is it only up from here?”
IntoTheBlock warns investors that it is possible that LTC could fall again. But the group’s analysts say Litecoin’s recent rally bodes well for the token’s future.
“While Litecoin may have hit the bear low, previous bear markets have seen Litecoin revisit these levels frequently, so caution is still advised.
Nevertheless, the recent increase in profits for LTC holders is definitely a promising sign for LTC and signals that this old classic is still very much in the game!”
Litecoin is trading at $94.36 at the time of writing.
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