BONE, the native gas token for Shibarium, surpassed roughly 93,000 holder addresses this week after gaining about 5,653 new wallets in seven days. On-chain checks put the total near 93,010, and the Shibarium team says much of the weekly rise stems from validator re-delegations on the network rather than a sudden wave of retail buying.
Separate on-chain signals show tokens moving off centralized exchanges into noncustodial wallets, alongside rising transaction activity and an expanding active user base. Those patterns typically cut short-term selling pressure and can boost confidence among users, but they don’t always translate immediately into price gains.
Large holders — wallets holding at least 1 million BONE — quietly increased their stakes in April, growing positions by about 4.2% and bringing their collective share to nearly 60% of total supply. These addresses aren’t new: the average holding period is roughly 412 days, suggesting major participants remain focused on a long-term outlook rather than short-term trading.
Trading activity has also spiked: 24-hour volume rose about 51.77% to roughly $1.7 million. Despite that uptick, BONE’s market price slipped to around $0.05766, a decline of roughly 2.5% on the day.
The broader price context tempers the upbeat metrics. Year-to-date, BONE is down about 28%, and it has dropped more than 10% over the last month. The token still sits far below its all-time high of $41.67 from September 2021 — roughly 99.86% below that peak — a gap unlikely to be closed by a single week of rising holder counts.
In short, on-chain data and holder behavior paint a mixed picture. Validator activity, wallet re-deployments, off-exchange flows, growing volume, and accumulation by large, long-term holders are constructive signs for network usage and confidence. At the same time, the persistent drawdown and recent price weakness mean it’s unclear whether these trends point to a sustained turnaround or reflect routine network mechanics.