New data from market intelligence platform IntoTheBlock shows that more than 80% of traders who invested in a handful of memecoins are currently underwater.
According to the crypto analytics company, only 11% and 10% of traders are delay 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 see gains.
However, Dogecoin and Pepe (PEPE) holders appear to be doing better, with 42% and 21% of their investors making a profit, respectively. DOGE and PEPE are worth $0.063 and $0.000000779 respectively at the time of writing.
The data continues reveals that 83% of SHIB investors are seeing red, despite last month’s launch of Shibarium, Shiba Inu’s long-awaited layer-2 scaling solution. SHIB is trading at 0.000008 at the time of writing, down 1.18% over the past 24 hours.
We continue with Floki, a virtual currency launched in 2021 based on billionaire Elon Musk’s real dog and which evolved into a web3 project, IntoTheBlock finds that as many as 90% of investors suffer losses.
FLOKI is trading at 0.000017 at the time of writing, up 0.56% over the last day.
Moreover, the market analysis agency notes that 85% of Dogelon Mars holders are Underwater-. ELON, a meme item created as an attempt to replicate DOGE’s success by piggybacking on Musk’s idea to colonize Mars, is going for $0.000000138 at the time of writing, down fractionally on the day.
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Generated image: Midjourney