Floki Inu: High Risk, Low Reward for Most Investors
According to recent data, investors who bought the dog-themed meme coin Floki Inu (FLOKI) are likely to suffer losses if they sell the cryptocurrency now.
The crypto analytics platform IntoTheBlock reports that only 19% of FLOKI holders have a profitable position at the coin’s current price, while 12% are breaking even and 70% are losing money.
FLOKI, which is trading at $0.000036, has experienced a 2.20% drop in the last 24 hours after Binance.US announced that it would be supporting the coin from April 25th.
However, the FLOKI team considers the Binance listing to add credibility to the token. In fact, the team believes that FLOKI completes the meme coin trilogy along with Dogecoin (DOGE) and Shiba Inu (SHIB).
#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!#Binance is the world's biggest, most trusted, and most recognized #crypto brand. https://t.co/YfgkmnFPi7
— FLOKI (@RealFlokiInu) April 24, 2023
Shiba Inu investors are also experiencing losses, with 68% of buyers being out of money at the current price of $0.00001. Only 3% and 28% are breaking even and making profits, respectively.
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Meanwhile, 54% of Dogecoin holders see a gain from their investment, with only 4% breaking even and 43% experiencing losses. The leading meme coin is worth $0.079 at the time of writing.
It is worth noting that despite the significant losses experienced by investors in FLOKI and SHIB, it is essential to recognize that investing in cryptocurrencies involves high levels of volatility and risk. Therefore, investors must conduct thorough research and invest only funds that they are comfortable losing.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
