Shiba Inu: BONE Holder Count Surpasses 93K as Weekly Growth Surges 87%

BONE, the official gas token of Shiba Inu Layer-2 blockchain Shibarium, is entering a strong growth phase as its holder base reaches a new milestone. 

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Taking to X, the Shibarium team has highlighted a sharp increase in BONE holder addresses following a surge in weekly network activity.

Key Points 

• The total number of BONE holders, the gas token on Shiba Inu’s L2 blockchain, Shibarium, has surpassed 93,000 addresses. 
• BONE has added 5,653 new holders within the past seven days. 
• Large holders, particularly addresses holding over 1 million BONE, increased their holdings by 4.2% in April. 
• Despite growth in adoption, BONE remains under price pressure, down 99.86% from its all-time high. 

BONE On-Chain Addresses Cross 93K 

According to the @Shibizens X account, operated by the team behind Shiba Inu’s L2 blockchain Shibarium, BONE’s holder count has now surpassed 93,000 addresses. The network reached this milestone by adding 5,653 new holders over the past seven days, an 87% increase from the previous week. 

Data from Etherscan supports this figure, showing total BONE holders at 93,010 at the time of publication. Shibizens attributes this rapid growth primarily to validator re-delegations on Shibarium.

Moreover, on-chain data reveals strengthening fundamentals, according to Shibizens. Specifically, BONE tokens are steadily moving off centralized exchanges into non-custodial wallets.

In parallel, transaction activity is rising, and the active user base continues to expand. Typically, these trends signal growing user confidence and reduced short-term selling pressure.

Large Holders Increase Holdings by 4.2% in April 

Meanwhile, large holders are quietly increasing their exposure. Shibizens reports that wallets holding at least 1 million BONE have expanded their positions by 4.2% this month. As a result, these large addresses now control approximately 58% of the total supply.

Notably, top wallets continue to demonstrate long-term conviction. They maintain an average holding period of around 412 days, indicating that major participants are not reacting to short-term volatility but are instead aligned with Shibarium’s long-term growth.

BONE Sees Massive Dip 

This sustained conviction persists despite BONE’s recent price struggles. Currently, the token is down 2.5% over the past 24 hours, trading at $0.05766. In addition, it has declined 10.18% over the past month and recorded a year-to-date loss of 28%, reflecting the broader market downturn. 

Looking at the bigger picture, BONE remains significantly below its all-time high of $41.67, recorded in September 2021. At press time, the token was down 99.86% from that level. However, its trading volume has skyrocketed by 51.77% over the past 24 hours to $1.7 million.