New data from a market intelligence firm shows that holders of Shiba Inu (SHIB) and another memecoin that has more than doubled in recent days are still underwater.
According to IntoTheBlock, a whopping 79% of holders of the popular meme asset SHIB are currently seeing red while only 17% of them make money.
Furthermore, the data shows that the vast majority of Shiba Inu investors – 71% – have been holding the digital asset for more than a year, while 27% of them have been holding it for between 1 and 12 months. Only 2% have held it for less than a month.
Moving on to Floki (FLOKI), another dog-themed crypto asset, IntoTheBlock finds that 65% of holders are currently underwater, while only 27% see green and 8% are neutral.
This is true even as Floki has seen a 115% price increase in recent days. Floki is trading at $0.000037 at the time of writing, a gain of 15.5% over the last 24 hours. On October 20, the crypto asset was trading at $0.0000178, less than half its current price.
Recently Floki made the launch from TokenFi, a crypto and asset tokenization platform that aims to simplify the process of tokenizing assets and “ultimately become the premier tokenization platform in the world.”
Shiba Inu is trading at $0.000008 at the time of writing, up fractionally over the last day.
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Generated image: Midjourney