Shiba Inu’s BONE Holder Base Tops 93,000 as Weekly Address Sees 87% Growth

BONE, the native gas token powering Shibarium, the Layer-2 blockchain built within the Shiba Inu ecosystem, is showing notable signs of increased adoption as its holder count reaches a new milestone. Recent on-chain data points to stronger participation across the network, with both retail users and large holders increasing their exposure despite continued price weakness.

The latest update shared by the Shibarium team on X reveals that the total number of BONE holder addresses has now exceeded 93,000. This growth follows a strong rise in weekly activity, with thousands of new wallet addresses added within a short period.

BONE Holder Count Exceeds 93,000 Addresses

According to data shared by the Shibarium team through the @Shibizens account, BONE added 5,653 new holders over the past seven days. This represents an 87% increase compared to the previous week, signaling stronger user engagement across the network.

At the time of reporting, data from Etherscan showed that the total number of BONE holders stood at 93,010 addresses. The team linked much of this recent increase to validator re-delegations on Shibarium, which have contributed significantly to the rise in wallet activity.

Beyond the increase in addresses, on-chain behavior also reflects improving network fundamentals. BONE tokens are gradually being moved away from centralized exchanges and into self-custodied wallets, a trend often viewed as a sign of stronger long-term investor confidence.

At the same time, transaction volume across the ecosystem continues to rise, while user participation remains active. These developments suggest that more participants are engaging with the network while reducing immediate sell-side pressure from exchange-held balances.

Whale Wallets Expand Their Positions

Large holders have also continued accumulating BONE during this period. Wallets holding at least 1 million BONE reportedly increased their positions by 4.2% throughout April, according to figures shared by Shibizens.

As a result of this accumulation, these high-value addresses now control nearly 58% of the token’s total supply. This concentration highlights the growing influence of long-term holders within the ecosystem and suggests that major participants remain committed to Shibarium’s future development.

The behavior of these wallets also reflects a long-term investment approach. Top holders are maintaining an average holding period of approximately 412 days, indicating that they are not making short-term decisions based on recent market fluctuations.

Instead, their positioning suggests continued confidence in the broader utility and adoption potential of BONE as Shibarium expands its infrastructure and validator activity.

Price Performance Remains Under Pressure

Despite stronger holder growth and accumulation trends, BONE’s market performance remains weak. The token is currently trading at $0.05789 after recording a 0.93% decline over the past 24 hours.

Its broader performance has also remained negative, with a monthly decline of 4.27% and a year-to-date loss of 28%, reflecting both token-specific weakness and the wider pressure across the crypto market.

When compared to last performance, BONE remains significantly below its all-time high of $41.67, which was recorded in September 2021. At current levels, the token has fallen 99.86% from that peak.

However, short-term market activity has shown some improvement. Trading volume increased by 51.77% over the last 24 hours, reaching $1.7 million. This rise in volume may indicate renewed trader interest even as price action remains subdued.

BONE continues to face significant recovery challenges, but the steady rise in holders, stronger whale accumulation, and expanding network participation suggest that interest in Shibarium’s long-term development is still active.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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