BONE Outshines SHIB, LEASH in This Important Metric

In the memecoin world, the Shiba Inu ecosystem remains one of the most proactive and vibrant of all. Despite their high level of interconnectedness and unifying community fundamentals, its top tokens Shiba Inu (SHIB), Bone ShibSwap (BONE), and Doge Killer (LEASH) all exhibit differences in on-chain fundamentals.

BONE, SHIB and LEASH: Profitability Difference

According to data from the crypto analytics platform IntoTheBlock (ITB), BONE is maintaining an almost perfect run rate with respect to the percentage of its current holders’ in profit. The data showed that a total of 69,710 addresses, accounting for 85.54% of all BONE-hosted addresses are in profit at this time.

This figure compares to that of Shiba Inu in which as low as 261980 addresses or 20.5% of the network total are in profit. LEASH appeared to be far slightly better as 32.97% of all addresses or about 9,450 are currently in profit at this time.

While each of these tokens has its own inherent appeal born out of the utilities they brandished as a part of the crypto memecoin’s ecosystem, the combined outlook appears gloomy for investors at this time.

Since profitability is a direct function of the protocol’s price action, it is certain that investors looking to bet long on Shiba Inu will have to either pitch tents with BONE or evaluate other alternative memecoins.

At the time of writing, however, all three tokens are down by as much as 3% each over the past 24 hours, a ride that is in tandem with general market sentiment.

What will Shibarium Change?

By mid-month, the Shiba Inu ecosystem’s long-awaited Layer-2 scaling solution Shibarium will be launched at the Blockchain Futurist Conference. The emergence of Shibarium has been tipped as a major catalyst for the top tokens within the Shiba Inu ecosystem to achieve their true potential.

With Shibarium, the role of BONE as a governance token will be enhanced, and alongside LEASH and SHIB, possibly gain a more massive embrace across the board.

It remains to be seen whether or not the profitability metrics will change n the near future but for now, BONE appears a dominant leader in this regard with robust exchange support.