New information from market intelligence platform IntoTheBlock reveals that over 80% of merchants who’ve invested in a handful of memecoins are at present underwater.
In line with the crypto analytics agency, simply 11% and 10% of merchants who hold Dogecoin (DOGE) rivals Shiba Inu (SHIB) and Floki (FLOKI) are within the inexperienced whereas solely 14% and 19% of Dogelon Mars (ELON) and Doge Killer (LEASH) holders are seeing income.
Nevertheless, holders of Dogecoin and Pepe (PEPE) look like faring higher as 42% and 21% of their traders are in revenue, respectively. DOGE and PEPE are valued at $0.063 and $0.000000779 at time of writing, respectively.
The information additional reveals that 83% of SHIB traders are seeing crimson regardless of final month’s launch of Shibarium, Shiba Inu’s extremely anticipated layer-2 scaling resolution. SHIB is buying and selling for 0.000008 at time of writing, a 1.18% lower over the last 24 hours.
Transferring on to Floki, a digital foreign money launched in 2021 based mostly on billionaire Elon Musk’s real-life canine that developed right into a web3 challenge, IntoTheBlock finds {that a} staggering 90% of its traders are seeing losses.
FLOKI is buying and selling for 0.000017 at time of writing, a 0.56% enhance over the last day.
Moreover, the market analytics agency finds that 85% of Dogelon Mars holders are additionally underwater. ELON, a meme asset created as an try to copy the success of DOGE by piggybacking off of Musk’s thought of colonizing Mars, is shifting for $0.000000138 at time of writing, a fractional lower on the day.
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