New data from a market intelligence firm reveals that holders of Shiba Inu (SHIB) and another memecoin that has more than doubled up during the last few days are still underwater.

According to IntoTheBlock, a staggering 79% of holders of popular meme asset SHIB are currently seeing red while only 17% of them are making money.

Furthermore, the data unveils that the overwhelming majority of Shiba Inu investors – 71% – have been holding on to the digital asset for over a year while 27% of them have been holding it for between 1 and 12 months. Just 2% have held it for less than a month.

Moving on to Floki (FLOKI), another dog-themed crypto asset, IntoTheBlock finds that 65% of its holders are currently underwater while only 27% are seeing green and 8% are neutral.

This holds even as Floki has seen a 115% surge in price during the last couple of days. Floki is trading for $0.000037 at time of writing, a 15.5% gain during the last 24 hours. On October 20th, the crypto asset was moving for $0.0000178, less than half its current price.

Recently, Floki announced the launch of TokenFi, a crypto and asset tokenization platform that aims to simplify the process of tokenizing assets and “eventually become the foremost tokenization platform in the world.”

Shiba Inu is trading for $0.000008 at time of writing, a fractional increase during the last day.

Generated Image: Midjourney

The post Most Holders of Shiba Inu and One SHIB Rival That’s Surged 115%+ in Days Still Underwater Despite Crypto Bounce appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ October 29, 2023 12:31 am