New data shows that an overwhelming number of investors who bought the dog-themed memecoin Floki Inu (FLOKI) would lose money if they sell the crypto asset now.
According to data from the crypto analytics platform IntoTheBlock, only 19% of FLOKI holders have a profitable position at the coin’s current price.
Of those who bought the asset, 12% are breaking even and 70% are losing money.
The Dogecoin (DOGE) and Shiba Inu (SHIB) challenger is trading for $0.000036 at time of writing, down by 2.20% in the last 24 hours after Binance.US announced that it was supporting FLOKI starting April 25th.
“We’re excited to announce that FLOKI (FLOKI) has been listed on Binance.US. You can now buy FLOKI and start trading on the best crypto platform for low fees.”
The team behind FLOKI says the Binance listing legitimizes the token as an asset.
“Floki is now live on BinanceUS.
This is MASSIVE news that further legitimizes Floki and makes it clear that we firmly complete the memecoin trilogy with DOGE and SHIB!.”
The majority of Shiba Inu investors are also sitting on losses. At SHIB’s current price of $0.00001, 68% of those who bought the token are out of money while only 3% and 28% are breaking even and making profits, respectively.
Meanwhile, 54% of Dogecoin holders see a gain from their investment. Only 4% and 43% are breaking even and losing money, respectively. The leading memecoin is worth $0.079 at time of writing.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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