BONE Holder Count Approaches New Milestone, Here’s Price Reaction

Data provided by the Etherscan blockchain tracking platform stated that the number of people who hold Bone ShibaSwap (BONE) coin has been on the rise recently, eyeing a milestone of 100,000.

BONE holder count boosts, here’s price performance

As if reacting to that, the BONE price staged a substantial 6.50% rise on Monday just in order to decline 4.75% today. At the time of this writing, BONE is trading at $0.7010 per token.

Compared to that, Shiba Inu, the main token of the ecosystem, boasts 2,434,029 holders, with 2,259 new holders added within the last seven days, according to CryptEye. Over the last half-year, 53,278 new holders began to own SHIB.

BONE is the fuel of the Layer-2 solution Shibarium launched in August this year by Shytoshi Kusama and his developer team. BONE powers transactions on it, serving as gas on Shibarium.

Another important side of BONE utility is that part of these transaction fees are set aside by the developer team in order to convert them into SHIB later and then transfer them to unspendable wallets, thus forever removing them out of the circulating supply – “burning” is the popular term used by crypto fans that describes this process.

The total number of transactions on Shibarium is now closely approaching the new milestone of 4,000,000.

Whale shovels 20 trillion SHIB in past few days

Prominent crypto tracker Whale Alert has shared in several of its recent posts that over the past three days, trillions of Shiba Inu meme coins have been transferred by anonymous whales – 19.9 trillion in total.

This enormous amount of Shiba Inu is the equivalent of $165.4 million in the global fiat currency.

🚨 🚨 4,397,530,677,374 #SHIB (35,914,633 USD) transferred from unknown wallet to unknown wallethttps://t.co/bmbKcD8y1u

— Whale Alert (@whale_alert) November 7, 2023

Two of these recently conducted transfers were made from crypto exchanges Paribu and Bitvavo, and they seem like withdrawals – 6.8 trillion SHIB. However, two transfers took nearly nine trillion Shiba Inu to the Bitvavo exchange (based in Amsterdam), and these chunks of the canine coin were probably to be sold.

The rest of the total of six transfers was made between anonymous wallets as they exchanged large chunks of Shiba Inu.

SHIB price performance over weekend

As reported by IntoTheBlock data aggregator, the percentage of positive SHIB inflows from whales has increased by an astonishing 1,911.2% over the last few days.

These staggering movements of Shiba Inu have coincided with a massive SHIB price surge of more than 10%, which occurred over the weekend. SHIB reached the $0.00000849 level. This massive growth was, however, followed by a decline of 3.21% over the last 24 hours as SHIB declined to hit the $0.00000819 mark.

Source