Crypto Crash: Over 80% Of Shiba Inu And Other Crypto Investors Are Underwater

The cryptocurrency market is currently experiencing a downturn, with a substantial portion of investors in Shiba Inu SHIB/USD and other cryptocurrencies facing losses.

What Happened: According to data by IntoTheBlock, 83% of SHIB investors are seeing red despite last month’s launch of Shibarium. At the time of writing, SHIB was trading at $0.000007392, down by almost 6% in the last seven days. 

A post on X by the IntoTheBlock revealed that only 11% and 10% of traders who hold Dogecoin DOGE/USD competitors Shiba Inu and Floki FLOKI/USD are in the green, while only 14% and 19% of Dogelon Mars ELON/USD and Doge Killer LEASH/USD holders are seeing profits.

Ever wondered how meme coins compete on important metrics? Dive into our latest infographic where we break down the performance of 6 popular meme coins, analyzing holder profits and whale concentration. #Dogecoin #Pepe #LEASH #SHIB #FLOKI #ELON pic.twitter.com/Di5vbyo3PZ

— IntoTheBlock (@intotheblock) September 8, 2023

Also Read: Crypto Analyst Warns About Dogecoin, Shiba Inu Amid Uneasy Market: Not An 'Interesting Buy'

The holders of Dogecoin and Pepe PEPE/USD appear to be in a better position, as 42% and 21% of their investors are in profit, respectively. 

According to the IntoTheBlock data, 90% of FLOKI's investors are seeing losses. The data also shows that 85% of Dogelon Mars holders are underwater. This reflects the broader instability in the cryptocurrency market, characterized by high volatility and fluctuating asset values.

It is not just these cryptocurrencies that are affected; the trend is noticeable across a range of digital assets, pointing to a more widespread market decline.

Now Read: Dogecoin Founder Billy Markus Reveals His Number One Rule For Crypto Along With His Favorite Tokens

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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