According to CryptoPotato, the recent cryptocurrency market correction has primarily impacted altcoin investors, with many experiencing losses. However, meme coin investors, such as those in Dogecoin (DOGE) and Shiba Inu (SHIB), are comparatively better off, with fewer holders facing losses due to earlier price increases.
Despite a promising start to the year and last month's Bitcoin (BTC) halving, the cryptocurrency market has been undergoing a severe correction. The price of the primary cryptocurrency has fallen 10% over a week, dropping below the $60K mark. Other leading digital assets, including Ethereum (ETH), Solana (SOL), and Ripple (XRP), are also significantly in the red.
Market intelligence platform IntoTheBlock outlined the ten cryptocurrency projects with the most holders currently experiencing paper losses. Algorand (ALGO) investors topped the list, with 91% of investors being underwater. The Sandbox (SAND) and Arbitrum (ARB) followed, with over 80% of holders in the red. Cardano (ADA) and Uniswap (UNI) investors also faced losses of 60% and 52% respectively.
However, IntoTheBlock suggested that these assets could offer 'great opportunities' if they demonstrate strong fundamentals and signs of on-chain activity and growth.
Interestingly, the list does not include any meme coins. According to IntoTheBlock, only 18% of Dogecoin (DOGE) holders and almost 40% of Shiba Inu (SHIB) investors are currently experiencing paper losses. The majority of those who have invested in Pepe (PEPE) and Floki Inu (FLOKI) are also in the green. This is due to the substantial price increases many of these assets experienced in the months prior to the current correction. This is a stark contrast to September of the previous year when almost 90% of SHIB holders and 42% of DOGE investors were at a loss.