Cryptocurrency investors have been on a wild ride, with recent data revealing a concerning trend in the market.
Shiba Inu (SHIB), despite the buzz surrounding the launch of Shibarium just last month, has left a staggering 83% of its investors in the red.
At the time of writing, SHIB was trading at a mere $0.000007392, showing a significant 6% drop over the past seven days.
Shiba Inu’s woes are not unique in the competitive world of Dogecoin alternatives. When we dive deeper, we find equally troubling statistics.
Only 11% of Shiba Inu traders and a mere 10% of Floki traders are currently basking in profits. The situation doesn’t improve much for Dogelon Mars and Doge Killer holders, as only 14% and 19% of them are experiencing positive returns, respectively.
Amidst the sea of losses, there are some bright spots. Dogecoin investors are faring relatively better, with around 42% of them currently seeing positive returns. Similarly, Pepe investors are in a favorable position, with 21% of them in the green.
It’s important to note that this trend of losses extends beyond specific cryptocurrencies. It’s a reflection of a larger market trend, with various digital assets feeling the impact.
The market has been characterized by high volatility and fluctuating asset values, making it a challenging terrain for investors to navigate.