AliExpress, a well-known global online retailer associated with the tech giant Alibaba, has made an important step by embracing memecoin which directly competes with Dogecoin (DOGE) and Shiba Inu (SHIB).
In an exciting announcement, meme-inspired digital asset creator Floki (FLOKI) has revealed that users can now use this dog-themed cryptocurrency to buy a wide variety of products on AliExpress, which is one of the largest online retailers in the world.
To facilitate this convenient transaction process, consumers can rely on Shopping.io, an e-commerce protocol that specifically caters to the crypto community. This innovative platform provides shoppers with an extraordinary opportunity to source goods from major retail giants such as Amazon, Walmart, Etsy and eBay, leveraging their digital assets seamlessly.
Despite the anticipation surrounding AliExpress favoring Floki, the market impact on the value of this memecoin has been relatively small, with the current trading price standing at $0.000032 at the time of writing. It signals a marginal decline in the last 24 hours.
In April, data analysis conducted by IntoTheBlock, a well-known crypto analytics platform, uncovered concerning disclosures regarding FLOKI investors. This shows that most of the FLOKI traders have suffered losses. At that time, only 19% of FLOKI investors enjoyed profits, while 12% only broke even. An astonishing 70% of investors are grappling with unrealized losses.
Recently, IntoTheBlock revisited its findings and found an even higher percentage of FLOKI holders were in trouble. Recent data illustrates the disheartening reality that an astonishing 78% of FLOKI owners will experience financial setbacks if they sell their assets. However, it is important to note that 14% of investors have managed to turn a profit, while another 9% are currently breaking even. Additionally, IntoTheBlock research shows that 81% of SHIB holders are also grappling with losses.
The inclusion of Floki on AliExpress is undoubtedly a significant development in the memecoin world. However, despite the hype around this integration, Floki’s current trading price is still relatively low. In addition, recent data shows that the majority of FLOKI holders, as well as SHIB holders, face challenges in terms of profitability.