Over 80% of Traders in Memecoins are Asย ofย now Underwater, Reveals IntoTheBlock
New data from market intelligence platform IntoTheBlock indicates that the bulkย of traders who have invested in plentyย of memecoins are asย ofย now facing losses. According to the cryptocurrency analytics firm, only 11% and 10% of Shibaย Inuย and Floki (FLOKI) holders are asย ofย now in profit, while just 14% and 19% of Dogelon Mars (ELON) and Dogecoinย (DOGE) Killer (LEASH) investors are seeing returns.
Nonetheless, holders of Dogecoinย (DOGE) and Pepe (PEPE) seemย to be faring better, with 42% and 21% of their investors in profit, respectively. Dogecoinย (DOGE) and PEPE are asย ofย now valued at $0.063 and $0.000000779.
Furthermore, the data outlines that 83% of SHIB investors are experiencing losses regardlessย of the recent launch of Shibarium, Shiba Inuโs layer-2 growing solution. Floki investors likewise face wholeย lotย of losses, with 90% asย ofย now underwater. Similarly, 85% of Dogelon Mars holders are in the red.
Hot Take: Bulkย of Traders in Memecoins are Seeing Losses
The data from IntoTheBlock outlines the high risk associated with investing in memecoins. Althoughย while some investors in Dogecoinย (DOGE) and Pepe are enjoying profits, the bulkย of traders in Shibaย Inuย (SHIB), Floki, Dogelon Mars, and Dogecoinย (DOGE) Killer are asย ofย 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. Itโs criticalย to consider theย capacity dangers and to only invest what you can afford to lose in these highly unpredictable assets.
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