Ethereum Whale Gobbles 1.7M $BONE Ahead of Shibarium Airdrop—Shiba Inu Army Cheers

A crypto whale just made a power move—snapping up 1.7 million $BONE tokens in a single swoop. Timing? Suspiciously perfect, with Shibarium’s hotly anticipated airdrop looming.

Why it matters: This isn’t just another meme coin gamble. $BONE serves as ShibaSwap’s governance token, and Shibarium’s rollout could turbocharge its utility—or leave bagholders staring at another ’revolutionary’ project that fizzles. Classic crypto.

The whale’s play signals big-money confidence in Shibarium’s potential to cut Ethereum gas fees and attract developers. Or maybe they just enjoy watching retail traders FOMO in later at triple the price.

Whale Wallet Purchases $BONE Daily

Blockchain data from Etherscan confirms the wallet’s first activity on April 27, starting with a modest 0.2 ETH deposit.

But just two days later, on April 29 at 08:43 p.m. UTC, the whale made its first major BONE purchase—1.64 million tokens worth nearly $500,000.

Since then, the address has executed similar purchases at nearly the same time each evening, likely signaling the use of an automated bot.

The wallet has now accumulated 1,764,519 $BONE tokens across six transactions totaling approximately $532,000.

The timing and precision of these buys suggest a calculated strategy, possibly tied to the upcoming Shibarium airdrop.

Adding to the intrigue, K9 Finance DAO — the official liquid staking protocol on Shibarium — tweeted on May 2 that users could earn “serious XP” based on their on-chain history in an upcoming airdrop.

The message has fueled further speculation that smart money is positioning itself early.

Shibarium users are about to be rewarded for their choice to run with the pack.

Your on-chain history could earn you some serious XP in our upcoming airdrop.

This isn’t the first time Olmedo has tracked steady $BONE accumulation.

Last month, he pointed out another wallet that had been building its BONE stash for over two years, now holding over 242,000 tokens.

Despite BONE’s current price slump — trading at $0.3009 and down more than 99% from its all-time high — large-scale accumulation suggests growing confidence in its long-term utility as Shibarium’s gas token.

Sol Killer Burns Over 10K $BONE Tokens via Shibarium’s Unique Mechanism

On Monday, SOL Killer (DAMN), a meme coin operating on Shiba Inu’s Shibarium blockchain, announced it has burned over 10,000 $BONE tokens.

The burn, confirmed by Shibariumscan data, also included the destruction of 189.47 million DAMN tokens, as part of the project’s deflationary approach to increase token scarcity.

10,197 $BONE has been burned.https://t.co/1PBBZ8NgxN$DAMN, Burning never stops!#SolKiller #Shibarium #ShibariumMemecoin pic.twitter.com/1QxVuzNRFh

The burn mechanism was unintentionally triggered when Sol Killer destroyed its liquidity pool (LP) last year.

Since then, BONE and DAMN tokens stored in LP contracts have become permanently inaccessible.

As WoofSwap—the platform behind Sol Killer—allocates fees to LP holders and the protocol, the LP burn ensures that 70% of fees are forever locked, turning them into effective token burns.

While the burn isn’t visible on Etherscan due to its execution on Shibarium’s L2 network using wrapped tokens (wBONE), it still impacts the circulating supply.

Since the original $BONE remains locked in Ethereum bridge contracts, the deflationary effect is preserved.