New data from market intelligence platform IntoTheBlock reveals that over 80% of traders who have invested in a handful of memecoins are currently underwater.
According to the crypto analytics firm, just 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 seeing profits.
However, holders of Dogecoin and Pepe (PEPE) appear to be faring better as 42% and 21% of their investors are in profit, respectively. DOGE and PEPE are valued at $0.063 and $0.000000779 at time of writing, respectively.
The data further reveals that 83% of SHIB investors are seeing red despite last month’s launch of Shibarium, Shiba Inu’s highly anticipated layer-2 scaling solution. SHIB is trading for 0.000008 at time of writing, a 1.18% decrease during 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 its investors are seeing losses.
FLOKI is trading for 0.000017 at time of writing, a 0.56% increase during the last day.
Furthermore, the market analytics firm finds that 85% of Dogelon Mars holders are also underwater. ELON, a meme asset created as an attempt to replicate the success of DOGE by piggybacking off of Musk’s idea of colonizing Mars, is moving for $0.000000138 at time of writing, a fractional decrease on the day.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
