Shiba Inu’s BONE manipulated for hundreds of thousands of dollars
Strange activity has been observed around the Shiba Inu ecosystem token, BONE. According to Etherscan, an unknown address “woke up” after 413 days and pulled 905,000 BON from the liquidity pool. The unknown investor then exchanged 300,000 BONE for WETH, equivalent to $232,800.
The crypto enthusiast and apparently early believer in the Shiba Inu ecosystem still has 605,642 BONE in his wallet, which equates to almost half a million dollars. Given BONE’s relatively low liquidity, ranging from $2 million to $5 million in daily trading volume, pouring that entire amount onto the market could make the token’s quotes worse.
A certain negativity from these developments was clearly felt by the BON price today, when it fell by more than 5.3%.
ShibaSwap’s BONE price action
The global picture on the BONE price chart does not inspire much enthusiasm either, which may have prompted an unknown investor to sell a third of his/her holdings. Thus, the token’s price has lost a strong support level at $0.847 and is now moving toward the lower end of the price corridor, at $0.635.
With a decline of 12.51% over the past seven days, BON began its second week in decline. However, from mid-November to early December, BONE is up 42%.
