The Reality of Investing in Meme Coins: Over 70% of Floki Investors Are Underwater
Meta title: Discover the truth about meme coins – Data shows over 70% of investors in $FLOKI, $DOGE, and $SHIB are underwater
According to data from the blockchain, the majority of investors who purchased the Dogecoin ($DOGE) and Shiba Inu ($SHIB) rival memecoin, Floki ($FLOKI), are currently facing losses. Reports indicate that over 70% of investors in Floki are currently underwater, which means they are sitting on unrealized losses. The data, first reported by Daily Hodl, shows that only 19% of FLOKI holders possess a profitable position at the token’s existing valuation. Among those who acquired the asset, 12% stand at a break-even point, while a staggering 70% are confronted with losses.
The FLOKI team recently celebrated a new listing on Binance.US, with the exchange noting its excitement to list the cryptocurrency and allow its users to trade it with low fees. The team contends that this listing on Binance substantiates the token’s credibility as an asset, further solidifying its position alongside DOGE and SHIB in the memecoin arena. Despite this, the majority of Shiba Inu investors are also grappling with losses. At SHIB’s prevailing price of $0.00001, 68% of token buyers are operating at a loss, while only 3% and 28% are breaking even and reaping profits, respectively. In contrast, Dogecoin investors seem to be doing better, with 54% of holders experiencing gains on their investments. A mere 4% and 43% of DOGE investors are breaking even and incurring losses, respectively.
The frontrunner in the memecoin space is currently valued at $0.079 at the time of writing. It is worth noting that Floki has recently been listed on the major cryptocurrency exchange Bitpanda, which made it available to its 4 million users against the European fiat currency, the Euro. In addition, Floki has been added to several major cryptocurrency trading platforms, including OKEx, WazirX, DigiFinex, and others. The utility token of the Floki ecosystem, FLOKI, which “offers a 3D NFT Metaverse, DeFi utilities, a crypto education platform, NFTs, a merchandise store, and more,” became a top 100 cryptocurrency by market capitalization this year. The Floki Inu team hopes to increase demand and utility for the token with the launch of its FLOKI-powered Metaverse combat game, Valhalla, which contains in-game creatures that can be purchased with FLOKI or another in-game currency.
Additionally, FLOKI will allow users to make various other purchases within the game. The game’s developers plan to permanently burn a significant amount of FLOKI tokens, further reducing the circulation supply and potentially increasing its scarcity and value. It remains to be seen how Floki will perform in the coming months, but it is clear that the team behind the token is actively working to increase its utility and demand. Whether this will be enough to turn the tide for currently underwater investors remains to be seen. However, with the growth and expansion of the cryptocurrency market, it is possible that Floki could see a surge in value and attract more investors in the future. As with any investment, it is important to do your research and make informed decisions based on market trends and data.
