Majority of Shiba Inu and Three Dogecoin Rivals Face Losses, with Over 80% of Holders in Negative Territory: IntoTheBlock

Majority of Shiba Inu and Three Dogecoin Rivals Face Losses, with Over 80% of Holders in Negative Territory: IntoTheBlock


Over 80% of Traders in Memecoins are As of now Underwater, Reveals IntoTheBlock

New data from market intelligence platform IntoTheBlock indicates that the bulk of traders who have invested in plenty of memecoins are as of now facing losses. According to the cryptocurrency analytics firm, only 11% and 10% of Shiba Inu  and Floki (FLOKI) holders are as of now in profit, while just 14% and 19% of Dogelon Mars (ELON) and Dogecoin (DOGE) Killer (LEASH) investors are seeing returns.

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Nonetheless, holders of Dogecoin (DOGE) and Pepe (PEPE) seem to be faring better, with 42% and 21% of their investors in profit, respectively. Dogecoin (DOGE) and PEPE are as of now valued at $0.063 and $0.000000779.

Furthermore, the data outlines that 83% of SHIB investors are experiencing losses regardless of the recent launch of Shibarium, Shiba Inu’s layer-2 growing solution. Floki investors likewise face whole lot of losses, with 90% as of now underwater. Similarly, 85% of Dogelon Mars holders are in the red.

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Hot Take: Bulk of Traders in Memecoins are Seeing Losses

The data from IntoTheBlock outlines the high risk associated with investing in memecoins. Although while some investors in Dogecoin (DOGE) and Pepe are enjoying profits, the bulk of traders in Shiba Inu (SHIB), Floki, Dogelon Mars, and Dogecoin (DOGE) Killer are as of now facing losses. This serves as a reminder that memecoins can be incredibly volatile and speculative investments. Investors should exercise caution and thoroughly research any memecoin before investing. It’s critical to consider the  capacity dangers and to only invest what you can afford to lose in these highly unpredictable assets.

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Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding.

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