KEY POINTS

  • BONE was launched in July 2021
  • It serves as the governance token of the Shiba Inu ecosystem
  • BONE was trading up 3.56% at $1.45

Ethereum whales, or investors with accounts holding between $1 million to $10 million, usually invest substantial amounts on popular altcoins like Dogecoin and Shiba Inu. Interestingly, recent on-chain records show that these investment heavyweights may have had a slight change in their taste as they have seemingly made Shiba Inu's governance token BONE their new favorite.

Bone is one of the three tokens in the Shiba Inu ecosystem and is actively being used on the decentralized platform ShibaSwap. The governance token gained traction over the past months after pseudonymous lead developer Shytoshi Kusama revealed that the token would be used as the gas fee for the upcoming layer-2 solution Shibarium.

Over the weekend, Ethereum whale tracker WhaleStats reported that BONE is one of the most used smart contracts among the top 1000 Ethereum whales over a 24-hour period. With the latest development in the interest among ETH whales, it looks like they got their eyes not only on SHIB or BONE but on the entire Shiba Inu ecosystem.

ShibaDEX
ShibaDEX – the first cross-chain DEX for the Shiba Inu community powered by AtomicDEX, launched today, enhancing interoperability and security to Shiba’s community of over three million members. "ShibaDEX — First Cross-Chain DEX for the Shiba Inu Community" Post From Komodo Official Website

Shiba Inu sits at the top of the list of the 500 crypto assets top ETH Whales are holding over the weekend with $136,934,389, as per WhaleStats.

Interest in the dog-themed altcoin also surged over the past weeks despite the marginal performance of the entire crypto market, with holder tracker Crypteye reporting an increase of 110,000 in the number of wallets in September and 35,302 more last week.

ETH whales showed no interest in BONE in the past and only locked their eyes on SHIB, but with BONE getting listed on major cryptocurrency exchange platforms and the Shib Army hyping the launch of Shibarium, these heavyweights are now whistling a different tune.

The impressive 30.75% spike in the price of the governance token, which traded at $1.61 on Jan. 1, 2022, and $2.1053 on Aug. 30, 2022, did not go unnoticed by the Ethereum whales. The BONE token was launched when the ShibaSwap went live in July 2021. At the time it traded at $0.99.

BONE was trading up 3.56% at $1.45 with a 24-hour volume of $10,153,308, according to the latest data from CoinMarketCap.

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