Most Dogecoin (DOGE) Holders in Profit As Over 65% of Shiba Inu (SHIB) Owners Languish Underwater: IntoTheBlock

A leading blockchain analytics firm says a majority of meme token Dogecoin (DOGE) holders are in profit while rival meme token Shiba Inu (SHIB) owners are faring a lot worse. According to IntoTheBlock, 56% of DOGE holders are profitable on their investments, 34% are sitting on losses, and 10% are breaking even.

Timeline of Dogecoin, Shiba-inu

SHIB, the token powering the second-largest meme coin, Shiba Inu flew 15% to trade at $0.00001120 at the time of writing. Shiba Inu price retested critical descending trendline support earlier in March—and rebounded, implying the trend was ready to change course northwards.

The lead of Shiba Inu, who goes under the pseudonym Shytoshi Kusama, has been showing signs of attention to actress Shaun Romy recently. On March 17, she turned 29 and he posted a birthday tweet, tagging her and calling Romy his favorite actress.

According to Shiba Archives, over 1,325,000 people worldwide now hold SHIB, the crypto token associated with the Shiba Inu project. The news comes after a surge in interest in the token, which has seen its value increase significantly in recent weeks.

The popular meme coin SHIB recently faced issues due to the controversy surrounding the Shibarium code. But the latest on the layer 2 network is that its beta launch will hit the metaverse this week.

Dogecoin rebounded from a recent decline on Friday, as cryptocurrency markets shook off yesterday's bear wave. The meme coin has now risen by over 5%, a day after falling by the same sum. Chainlink was another notable mover, as prices climbed by over 7%.

Shiba Inu [SHIB] strongly recovered after securing the $0.00001030 support. At the time of writing, the meme coin's price action was on the verge of a bullish crossover – a bullish signal that could push the recovery forward.

While the focus in the crypto market is currently on Bitcoin, the Shiba Inu price is once again at an important inflection point. After the price experienced another setback yesterday due to the plagiarism allegations surrounding the layer-2 technology Shibarium, SHIB bulls are currently struggling to sustain a breakout from the downtrend that has been in place since mid-February.

One of the biggest influencers in the crypto space, Ben Armstrong, better known as “BitBoy,” has made good on his threat and made public the alleged identity of the secret Shiba Inu founder. In his latest 20-minute video, Armstrong refers to Neyma Jahan as the father of SHIB – but the latter denies the revelations.

Major crypto exchange Bitpanda is listing Floki Inu (FLOKI) after the meme token surged more than 300% this year. The Austrian-based exchange says investors can start trading FLOKI on their platform beginning March 17th. “Less than 24 hours until we let the dogs out! Well FLOKI more specifically.

Popular meme-based cryptocurrency $SHIB's token burn rate has reportedly surged by a stunning amount in the past 24-hour period as the debate around the testnet for the beta version of Shiba Inu's Layer 2 (L2) scaling solution Shibarium intensifies.