Shiba Inu and PEPE have recent gains as Bitcoin hovers around $61,000

• Bitcoin halts decline after erasing recent gains, hovers around $61,000 on Thursday.
• Shiba Inu and PEPE are climbing on Thursday, while Dogecoin lags behind on the 7-day time frame.
• Shiba Inu, Dogwifhat and Bonk lead earnings in 7-day timeframe among dog-themed meme coins.

Bitcoin (BTC) price is halting its decline and is hovering around $61,000 at the time of writing on Thursday, after erasing recent gains and losing around 4.5% over the past seven days. Over the same period, Shiba Inu (SHIB) and Pepe (PEPE) held onto their gains, while Dogecoin (DOGE), the leading meme coin by market cap, lost about 3.2%.

SHIB and PEPE kept their gains from the last seven days

Coinglass’ Crypto Fear & Greed Index spells “fear” on Thursday. Bitcoin has fallen from a Monday high of over $65,000 to around $61,000 at the time of writing. Dog-themed meme coins Shiba Inu, Dogwifhat (WIF) and Bonk (BONK) are holding on to gains over the past seven days, according to CoinGecko data.

Dog themed meme coins

Shiba Inu and PEPE held on to their gains of the past seven days, even as Bitcoin risks a dip to the psychologically important $60,000 level.

On-chain data from IntoTheBlock shows that 49% of SHIB holders are currently suffering from unrealized losses. In the case of Dogecoin, 73% of holders are currently profitable, while in PEPE, 68% of token holders are profitable.

Selling pressure on Dogecoin and PEPE will likely increase if holders take profits at current price levels.

IntoTheBlock data shows that sentiment among market participants is largely neutral on Dogecoin and PEPE, but bullish on Shiba Inu.

DOGE, SHIB and PEPE are trading at $0.1032, $0.00001597 and $0.00000886 respectively, wiping out between 2% and 4% of their value on the day.