Data from the blockchain shows that a significant majority of investors that purchased Dogecoin ($DOGE) and Shiba Inu ($SHIB) rival memecoin Floki ($FLOKI) are currently underwater, meaning they’re sitting on unrealized losses.

According to data form on-chain analytics firm IntoTheBlock, first reported on by Daily Hodl, a mere 19% of FLOKI holders possess a profitable position at the token’s existing valuation. Among those who acquired the asset, 12% stand at a break-even point, while a staggering 70% are confronted with losses.