AliExpress, the global online retailer of tech giant Alibaba, is adding support for a memecoin that rivals Dogecoin (DOGE) and Shiba Inu (SHIB).
In a new announcement, the team behind meme asset Floki (FLOKI) says that users can now use the dog-themed cryptocurrency to purchase products on AliExpress, one of the biggest online retailers in the world.
Consumers can purchase goods over AliExpress through Shopping.io, a crypto-focused e-commerce protocol that gives shoppers the chance to buy items from major retailers, such as Amazon, Walmart, Etsy and eBay, using digital assets.
News of AliExpress supporting Floki had little impact on the price of the meme asset as it is trading for $0.000032 at time of writing, a fractional decrease during the last 24 hours.
In April, data from the crypto analytics platform IntoTheBlock revealed that the overwhelming majority of FLOKI investors were underwater. At the time, just 19% of FLOKI traders were in the green and 12% were breaking even while 70% were sitting on unrealized losses
Earlier this week, the market intelligence firm revisited the data and found that an even higher percentage of those who hold FLOKI were in the red.
The data unveils that a staggering 78% of FLOKI owners would lose money if they sold their assets while 14% are profitable and 9% are breaking even. IntoTheBlock also found that 81% of those holding on to SHIB are also underwater.
Featured Image: Shutterstock/Vit-Mar/Sensvector
Read the full article here