BONE’s Investors Are Now Outperforming SHIBs’ In The Market

A recent analysis revealed that the investors in Shiba Inu-related altcoin (BONE’s investors) are doing well than the SHIB’s investors.

According to the analytics firm, IntoTheBlock says most Bone ShibaSwap investors are presently “in the money” and enjoying profits.

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BONE’s Investors Maintain Green Stand

The analytic company further revealed that 56,370 BONE addresses are in the green, representing nearly 75% of all Bone ShibaSwap wallets. Only 14.91% are currently underwater, with the remaining 11.22% of BONE addresses at breakeven.

Source: IntoTheBlock

It revealed the SHIB analysis, saying that 30.56% of Shiba Inu holders are in profit, while nearly 65% are nursing losses. About 5.85% of SHIB owners are breaking even.

Source: IntoTheBlock

Over time, Bone ShibaSwap has been doing incredibly well as it soared from its yearly open of $0.877 to its current value of $1.55 – an increase of over 76%.

As for SHIB, the popular meme token has rallied by roughly 35% over the same timeframe. At the time of writing, SHIB is worth $0.00001096, a significant retracement from its 2023 high of $0.00001520, which was recorded in early February.

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It is worth noting that while the SHIB’s analysis was somehow below its neighbourhood token, the wallet tracker Whalestats says that the largest 100 Ethereum whales in existence own over $600 million worth of SHIB, making it the most popular altcoin after USD Coin (USDC) and Tether (USDT).

However, the Bone ShibaSwap is the governance token of the decentralized exchange ShibaSwap. It was created basically to use for the payment of gas fees on Shibarium, the forthcoming layer-2 project built on top of Ethereum and also to reward the validators.

For this reason, a total of 20 million out of the 50 million was reserved while all other bone was destroyed.

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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.