Shiba Inu’s (SHIB) Bone ShibaSwap (BONE) Racked Up by Ethereum (ETH) Whales
The SHIB Ecosystem’s gas token has attracted the interest of the largest ETH-bearing whales. One whale spent a staggering 125.075 ETH on BONE in October 2022. Ultimately, that equals over $200,000 spent on SHIB’s governance token in a single transaction.
$Bone prices are up! A person bought more than 200k #bone, which drove up its price. This was not an exchange but, it’s a single individual. The attached pic only shows the initial 100k purchase. This is a purchase! pic.twitter.com/z0QAeVV3ua
— Miles Life ® (@milesvanlife) October 26, 2022
(ETH) Whales Expect Shibarium
BONE’s bullish price movements could be due to the anticipation that Shibarium will soon be launched. Shibarium is the Layer-2 solution for SHIB’s Ecosystem. As the SHIB Army expects a significant uptrend with Shibarium’s launch, it only makes sense that the top 100 ETH whales are getting in early.
BONE is also trending in DexTools, which happens to be one of the most used trading apps in DeFi. The bullish sentiment confirms there’s a demand for SHIB’s gas fee token beyond the ecosystem. BONE will likely offer Shibarium more utility than SHIB’s gas fee token.
#Bone is the #1 trending topic in @DEXToolsApp #Shib#Bone #Shibarium#DogeKiller #Leash 19.32% higher LFG !!!! pic.twitter.com/KubWBFd4oC
— Ragnar Shib (@RagnarShiba) October 26, 2022
BONE grows in market recovery
According to CoinGecko, BONE was priced at $1.13 at the time of publication. This is a 10.6% rise in 24 hours. BONE increased by 25.5% in weekly terms. The two-week perspective is even better with 35.8% increases.
The rebound rally is being led by memecoins DOGE and SHIB in current crypto market conditions. Having perhaps the widest communities in crypto, both the DOGE and SHIB armies have high hopes that Elon ‘The Dogefather’ Musk will close his $44 billion Twitter acquisition deal this Friday.
. $BONE s huge candle 15% up pic.twitter.com/eKkwN2Rzpl
— ♛ Lucie Sasínková ♛ (@LucieSHIB) October 26, 2022
- Around 30% of the SHIB Army’s community is dissatisfied with the delay in Shibarium.
- The timeline is still unclear, despite rumored launch dates.
- BONE is still below its ATH of $15.50 a Year ago.
Why you should care
To stay ahead of the crypto market price movements, it is important to track the largest ETH whales.
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