'Does he know insider information that we do not?' This has become the hottest question in the Shiba Inu community recently. While everyone is still watching the market direction, an Ethereum whale quietly bought over $1.7 million in BONE tokens in the past five days. The precision of these operations and the timing chosen all signal one thing: this is no simple gamble, but a strategy hiding deep considerations—especially in the current climate of rampant rumors about the Shibaria airdrop.
The Mysterious Actions of Whales: $1.7 Million Bet on BONE.
All clues point to a new wallet. Blockchain data clearly shows that this wallet began its actions on April 27, initially transferring only 0.2 ETH, so discreetly that almost no one noticed. But just two days later—on April 29 at 8:43 PM (UTC), the whale made its first major move, spending nearly $500,000 to purchase 1.64 million BONE. Since then, this wallet has repeated operations almost every night at the same time, with a very consistent buying rhythm and quantity, likely executed by an automated program.
So far, this address has cumulatively purchased BONE worth approximately $1.76 million through six transactions. Community member Javier Olmedo also captured this phenomenon immediately and questioned on social platforms: 'Does he have insider information?' Undoubtedly, such actions have shaken the entire Shiba Inu community.
Shibaria Airdrop: The 'Invisible Driving Force' of the Market.
Why are whales so firmly betting on BONE? The answer likely points to the upcoming airdrop of Shibaria. On May 2, the official liquid staking protocol K9 Finance DAO on Shibaria announced that future airdrop rewards will be based on on-chain historical records to distribute 'serious XP.' The market immediately speculated that the continuous buying by whales is to secure positions in advance for this potential airdrop feast.
This model is not a first occurrence. Olmedo had previously tracked another address accumulating BONE, which had been lurking for over two years and now holds 242,000 tokens. This level of patience and determination compels one to reconsider the long-term value of BONE.
An 'alternative belief' in the bear market: The potential of BONE.
Although BONE's current price is only $0.3009, down over 99% from its historical peak, these whales still choose to buy in large amounts, sending a clear signal: they value not the current price but BONE's long-term utility as the gas token of Shibaria's mainnet. Interestingly, the Shibaria ecosystem is accelerating the implementation of a deflationary mechanism.
Just this Monday, the meme coin Sol Killer (DAMN) operating on Shibaria announced that it has successfully burned over $10,000 in BONE tokens. According to data from Shibariumcan, this destruction included not only 189 million DAMN tokens but also burned BONE simultaneously. Although this destruction used wBONE (wrapped tokens) through the L2 network and did not directly show on the Ethereum mainnet, its deflationary effect on the market is undeniably real—the mechanism locking liquidity pools ensures that 70% of transaction fees are permanently locked.
The lesson from the lurkers: Is this just the beginning?
The actions of the whales, the signals of airdrops, and the deflationary strategies of the project parties all seem to hint that BONE's current 'silence' might just be the calm before the storm. For ordinary investors, the information gap is the biggest risk and opportunity. Capturing on-chain dynamics in a timely manner and interpreting the signals behind the market has become crucial for current positioning.
At this time, Mlion.ai, an AI research assistant that integrates on-chain and off-chain data, real-time news analysis, and social sentiment tracking, becomes particularly important. Especially when facing complex airdrop rules and the movements of lurking whales, with the help of Mlion.ai's rapid news deep analysis, on-chain address tracking, and data dashboard features, you can quickly gain clarity on the situation and prepare in advance. After all, opportunities in the crypto world are always reserved for those who are quick-eyed and quick-handed.
Disclaimer: The above content is for informational sharing only and does not constitute any investment advice! Investment carries risks, and one should proceed with caution.
