These Meme Coin Investors Beat Shiba Inu Investors: What’s Happening!

A leading blockchain analytics firm, dogecoin (DOGE) stated that the majority of its owners are in profit. He said that owners of rival meme coin Shiba Inu (SHIB) are in a much worse situation.

According to IntoTheBlock, 56% of DOGE owners are profitable on their investment, 34% are at a loss and 10% are at a loss.

Dogecoin is down more than 24% from its 2023 high of $0.099. At the time of writing, it is trading at $0.075.

Meanwhile, only 29% of SHIB owners are profitable, while 67% are at a loss.

As reported, SHIB is worth $0.000011 at the time of this writing. However, it fell more than 31% from the year’s high of $0.000016.

shiba inu ecosystem saw the highly anticipated layer-2 scaling solution Shibarium go live in beta form this month. The Layer-2 protocol is built on top of the smart contract platform Ethereum (ETH), similar to Polygon (MATIC).

Once beta testing is complete, the Bone ShibaSwap (BONE) will serve as the governance token for the new ecosystem, and the digital asset will be used to pay gas fees.

vomiting, shibariumHe stated that coins in beta form are not real. He warned that users should not spend their SHIB trying to save.

“Not all tokens on Puppynet are REAL. If you see your hard-earned SHIBs, people, anyone, no matter how hard, don’t spend them on these tokens.” said.

First announced in May 2021, the project is designed to allow developers to build inexpensive and highly scalable applications.

Kusama said the beta testing phase should last about two months. However, he stated that the testing period could last until July.

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