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BONE Is Safer Than Shiba Inu (SHIB) for Its Holders: IntoTheBlock

Sun, 03/05/2023 - 11:56
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Gamza Khanzadaev
Investors in BONE are in better position at the moment than SHIB fans
BONE Is Safer Than Shiba Inu (SHIB) for Its Holders: IntoTheBlock
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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According to data from IntoTheBlock, the number of BONE holders in profit right now is almost 74% of all addresses, despite a 20% drop in price over the past week. In comparison, the number of profitable holders of Shiba Inu tokens by today is only 30.56%, which is more than half the number of those suffering losses in SHIB. The statistical anomaly is that SHIB has only lost 12% in price in the last two weeks.

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The most profitable investors in BONE are those who bought the token at prices between $0.007244 and $0.3316. There are 21,830 such addresses and they hold a combined 6.36 million BONE. Those who did manage to lose — there are 11,370 such addresses — bought the token from $1.68 to $2.02.

Not everything is so clear-cut

However, there is a significant difference in the total number of addresses between the two tokens of the Shiba Inu ecosystem. If the data is to be believed, the number of addresses of BONE holders is just over 76,200, while SHIB has 16.6 times as many, i.e., 1.267 million. Thus, the statistical sample of addresses of SHIB holders is much larger.

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It is also important to clarify that the concentration of large capital in BONE is greater than in SHIB. Thus, the proportion of whales and midsize investors in the former is 55.4%, while the latter has 38%.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.