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.
