The crypto market, known for its volatility and potential for rapid gains, is currently presenting a challenging landscape for investors.
Recent data from IntoTheBlock has shed light on the difficulties faced by Shiba Inu (SHIB) and its competitors. Let’s dive into the numbers and explore the current state of these digital assets.
Despite the buzz surrounding the launch of Shibarium just last month, Shiba Inu (SHIB) investors find themselves in a tough spot. 83% of SHIB investors are currently facing losses.
This is a significant figure, considering the excitement generated by Shibarium’s introduction. At the time of writing, SHIB was trading at $0.000007392, showing a decline of nearly 6% over the past seven days.
The struggles extend beyond SHIB to its fellow Dogecoin competitors. Only 11% of Shiba Inu traders are currently seeing profits, while Floki investors fare slightly better, with 10% enjoying positive returns.
The situation is less promising for Dogelon Mars and Doge Killer holders, as only 14% and 19% of them are in the green, respectively.
In the midst of these challenges, holders of Dogecoin and Pepe appear to be weathering the storm more successfully.
Around 42% of Dogecoin investors and 21% of Pepe investors are currently experiencing positive returns, offering a glimmer of hope amid the broader market turmoil.
It’s important to recognize that these losses aren’t isolated incidents; they reflect a more extensive market trend. Numerous digital assets are grappling with similar challenges, signaling a widespread decline.
High volatility and unpredictable shifts in asset values make it increasingly difficult for investors to navigate this uncertain terrain.
