New data from market intelligence platform IntoTheBlock reveals that more than 80% of traders who have invested in a handful of memecoins are currently underwater.
According to the cryptoanalysis firm, only 11% and 10% of traders who hold Dogecoin (DOGE) competitors Shiba Inu (SHIB) and Floki (FLOKI) are in the green, while only 14% and 19% of Dogelon Mars (ELON) and Doge Killer (LEASH) holders are getting Profits.
However, holders of Dogecoin and Pepe (PEPE) seem to be doing better, with 42% and 21% of their investors making profits, respectively. DOGE and PEPE are valued at $0.063 and $0.000000779 at the time of writing, respectively.
The most data reveals that 83% of SHIB investors are seeing red ink despite last month’s launch of Shibarium, Shiba Inu’s highly anticipated Layer 2 scaling solution. SHIB is trading at 0.000008 at the time of writing, a decrease of 1.18% over the last 24 hours.
Moving on to Floki, a virtual currency launched in 2021 based on billionaire Elon Musk’s real-life dog that evolved into a web3 project, IntoTheBlock. finds that a staggering 90% of their investors are suffering losses.
FLOKI is trading at 0.000017 at the time of writing, up 0.56% over the past day.
Additionally, the market analysis firm finds that 85% of Dogelon Mars holders are also submarine. ELON, a meme asset created as an attempt to replicate DOGE’s success by leveraging Musk’s idea to colonize Mars, is trading for $0.000000138 at the time of writing, a fractional decline on the day.
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