Majority Of Dogecoin Holders In Profit, While 67% Of Shiba Inu Owners Are Underwater

Leading blockchain analytics firm IntoTheBlock has reported that Dogecoin DOGE/USD holders are in profit while Shiba Inu SHIB/USD holders are underwater. 

Fifty-six percent of Dogecoin holders are profitable from their investment, 34% are sitting on losses, and 10% are breaking even.  

In comparison, about 29% of Shiba Inu holders are profitable, and 67% are underwater.

At the time of writing, DOGE was trading at $0.0741, up by 12% in the last week. At the same time, SHIB was trading at $0.00001079, only 5% up over the previous seven days. 

In other news, a decentralized autonomous organization (DAO) that supports DOGE has planned a pilgrimage to Japan to meet the dog that inspired the DOGE meme.

Read Also: Dogecoin Leaps On Elon Musk's Reported Twitter Payments Plan: Why DOGE Supporters Are Excited

In a Twitter post last week, the Own The Doge DAO, known for its DOGE-themed non-fungible tokens said it had planned a trip to Japan to meet the original Doge and its owner in May.

That same week, SHIB developer Shytoshi Kusama announced a beta version of the highly anticipated layer-2 scaling solution Shibarium. Shibarium is an Ethereum ETH/USD-based layer-2 blockchain similar to Polygon MATIC/USD. It is designed to allow developers to create fast, inexpensive, and highly scalable applications. Following the completion of the beta version, Bone ShibaSwap BONE/USD will serve as the governance token for the new ecosystem, and the digital asset will be used to pay for gas fees.

Read Next: Elon Musk Says Dogecoin Should Be 'More Currency-Like,' Responds To Billy Markus On Crypto's Future

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