Crypto Whale Gobbles Up 4.5M BONE Tokens in Single Shiba Inu Power Move

Another day, another whale making waves in the meme coin ecosystem. This time, it’s Shiba Inu’s BONE token taking center stage as a deep-pocketed investor snaps up a staggering 4,572,758 tokens in one swoop.

When the big fish feed, the market watches. This eight-figure buy-in signals either reckless speculation or calculated accumulation—take your pick based on your tolerance for volatility theater.

Remember kids: in crypto, ’whale activity’ is just institutional-scale gambling with better PR. At least this whale had the decency to pump a governance token instead of another useless meme coin... probably.

Whale BONE Transaction In Last Five DaysWhale BONE Transaction In the Last Five Days Furthermore, the address “0x073F” now ranks 8th among the over 95,000 holders of BONE by dollar valuation, with its balance accounting for 2.18% of the token’s 250 million supply. However, further analysis has identified another twist to the story. Whale Accumulation? Meanwhile, analysis from the market intelligence platform Arkham confirmed that, indeed, the sending wallet belonged to OKX. It identified the “0x91D4” address as an OKX Hot Wallet, which held 3.409 million BONE ($985,030) at the time of writing. Interestingly, Arkham also shows that the receiving address belongs to the exchange. The platform identified the wallet as an OKX Cold Wallet, a self-custody wallet for OKX, one of the largest offshore cryptocurrency exchanges. As a result, the attention-grabbing transaction was just OKX moving the BONE token from its hot wallet for storage in the cold wallet. Notably, exchanges perform such transactions periodically to safeguard customers’ funds in the case of an attack on their platform. Nonetheless, while this was not one such case, whales have actually been accumulating BONE recently. The Crypto Basic highlighted a 5-day buying spree from a new wallet in early May, during which the address acquired 1.76 million BONE. BONE Remains Unresponsive Meanwhile, the Shiba Inu ecosystem token continued its correction today, joining a broader market trend. BONE is down 4.13% in the past 24 hours, with higher timeframes looking uglier. For context, the token has corrected nearly 8% in the past seven days and a staggering 57% from its price a year ago. This suggests that it completely missed out on the broader 2024 market rally, as inherent weakness persists. Meanwhile, analysis has shown a rebound is on the horizon. Specifically, analyst Crypto Conqueror predicted a bullish reversal to $6, highlighting critical levels to watch.