Recent events have seen a tremendous increase in the ownership of the BONE token, a valuable resource inside the network and a major part of the flourishing Shibarium blockchain, in the Shiba Inu ecosystem.
Large BONE token holders, sometimes known as “whales,” have boosted their holdings by an amazing 37.74% over the previous 30 days, according to on-chain statistics obtained via IntoTheBlock. This spike represents a significant 18.21% gain in dollars.
Those that have between 10 million and 100 million BONE tokens in their wallet addresses are considered to be these influential holders, who are well-known for their substantial investments. 76.59 million tokens, or an astounding 33.3% of the whole BONE supply, are now held by all of these addresses.
Whales’ increased BONE token ownership are correlated with Shibarium, the Shiba Inu network, which is growing quickly. In the blockchain, BONE serves as the main utility token and is essential for enabling transactions, paying for gas and supporting a number of other tasks.
Shibarium has already accomplished notable milestones since its full debut at the end of August. The network has shown its strong growth and durability with 3 million successfully completed transactions, 1.25 million active addresses, and the creation of 1 million blocks. Notably, BONE has been a key component of many of these deals, either as the main item traded or as a commission fee.
