A significant Ethereum investor has acquired more than 1.7 million $BONE tokens over the past five days, generating excitement within the Shiba Inu ecosystem amid anticipation of a potential Shibarium airdrop.
Javier Olmedo, a prominent figure in the Shiba Inu community, brought attention to this recent activity in a post on X. He noted that a new wallet has been consistently purchasing BONE almost every day.
“Does he know something we don’t?” Olmedo pondered, suggesting the wallet’s assets have exceeded $500,000 in $BONE.
Daily Accumulations by Whale Wallet
Blockchain analytics from Etherscan reveal that the whale’s initial transaction occurred on April 27, when it deposited a modest 0.2 ETH.
However, on April 29 at 08:43 p.m. UTC, the whale executed its first significant BONE acquisition—1.64 million tokens valued at nearly $500,000.
Since that time, the account has consistently made similar purchases around the same hour each evening, indicating the likely use of an automated trading bot.
To date, the wallet has gathered a total of 1,764,519 $BONE tokens through six separate transactions amounting to approximately $532,000.
The strategic timing and consistency of these transactions suggest a well-planned strategy, possibly linked to an imminent Shibarium airdrop.
Adding to the speculation, K9 Finance DAO—the official liquid staking protocol on Shibarium—took to Twitter on May 2 to inform users that their on-chain history could earn them significant rewards in an upcoming airdrop.
This announcement has intensified speculation that savvy investors are positioning themselves early for the airdrop.
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.
— K9 Finance DAO (@K9finance) May 2, 2025
This isn’t the first instance of Olmedo observing significant accumulation of $BONE. Last month, he highlighted another wallet that had been consistently adding to its BONE holdings for more than two years, which now boasts over 242,000 tokens.
Despite the current downturn in BONE’s price—currently trading at $0.3009 and down over 99% from its peak—the ongoing large-scale accumulation indicates a growing faith in its long-term value as the gas token for Shibarium.
Sol Killer Initiates Burn of Over 10,000 $BONE Tokens
On Monday, the meme coin Sol Killer (DAMN), functioning on Shiba Inu’s Shibarium blockchain, disclosed that it has burned over 10,000 $BONE tokens.
This burn, validated by data from Shibariumscan, also included the destruction of 189.47 million DAMN tokens, as part of the project’s deflationary strategy to enhance scarcity.
10,197 $BONE has been burned.https://t.co/1PBBZ8NgxN$DAMN, Burning never stops!#SolKiller #Shibarium #ShibariumMemecoin pic.twitter.com/1QxVuzNRFh
— DAMN (@DAMNsolkiller) May 5, 2025
The burn mechanism was inadvertently activated when Sol Killer eliminated its liquidity pool (LP) last year.
As a result, BONE and DAMN tokens that were housed in the LP contracts are now permanently inaccessible.
With WoofSwap—the platform supporting Sol Killer—allocating fees to LP holders and the protocol, the LP burn guarantees that 70% of fees are permanently locked, effectively transforming them into token burns.
While the burn activity doesn’t appear on Etherscan due to its execution on Shibarium’s Layer 2 network using wrapped tokens (wBONE), it does influence the circulating supply.
Since the original $BONE remains secured in Ethereum bridge contracts, the deflationary impact is maintained.
The post Shiba Inu Power Play: Ethereum Whale Snaps Up 1.7 Million $BONE Tokens Ahead of Shibarium Airdrop appeared first on Finance Newso.
