Most major cryptocurrencies have dropped over 80% from their ATH levels following the crypto market crash. Most investments made a year ago today fell on their initial investments, with the exception of a few cryptocurrencies. In this post, let’s take a look at how the $1,000 portfolio of ETH, DOGE, SHIB, and SOL fares today.
Most altcoins melted 80% off ATH prices
Last month, the crypto market witnessed an extreme decline. Total market capitalization fell from $3 billion to $947 billion at ATH. As a result of the fears of the approaching recession, the general macroeconomic climate and the sector problems in the sector, individual investors on a global scale are experiencing great losses. Major cryptocurrencies are down more than 80% from previous ATH levels.
- Ethereum is currently trading at $1,215 with the ATH level at $4,891. dogecoin
- Dogecoin has dropped from its current all-time high of $0.7376 to $0.0707. Another famous meme meme coin, Shiba Inu, fell from the ATH level of $0.000008616 to 0.000001091.
- Solana was one of the altcoin projects that grew exponentially last year. Currently, the ATH level is trading below $260.06 at $38.69.
How much is the $1,000 portfolio of ETH, DOGE, SHIB and SOL a year ago now?
A year ago today, when $250 was invested in Ethereum from $2,160, the initial investment would currently be $140.60. It means it lost 56.25% of its initial value. A $250 investment in Dogecoin at $0.2628 is currently equivalent to $67.25. So it would be worth 26.9% of its initial value. On the other hand, $250 invested in Shiba Inu at $0.00000885 is now $2,433. So 970% profit from the starting value.
Finally, an investment in Solana from $33.87 today to $250 a year ago would now be worth $285.50, an increase of 11.42% over the initial investment.
Dogecoin and SHIB prepare for further declines
Dogecoin (DOGE) and Shiba Inu (SHIB) show strength despite the recent market-wide correction. On-chain analysis shows a growing interest in meme coins as the number of unique addresses accumulating DOGE and SHIB increases. As we quoted as Kriptokoin.com, both meme coins rose after the support of Robinhood and Coinbase Commerce. Also, Elon Musk’s support of Dogecoin despite the lawsuit and the announcement of the Shibarium TestNet launch in Q3 confirms the confidence in investors. So what levels does on-chain data point to?
According to Santiment, the number of DOGE and SHIB active addresses is increasing during the month of June. The increase in active addresses indicates increased interest among investors. The number of active DOGE addresses peaked at 138,680 on June 27. SHIB peaked on June 28 with a total of 6,759 active addresses.
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