Wallets holding at least 1 million BONE quietly grew their positions by over 4% in April — a detail that might say more about where this token is headed than any single-week spike in new addresses.
Validator Activity Drives Holder Surge
BONE, the gas token powering Shiba Inu’s Layer-2 blockchain Shibarium, crossed 93,000 holder addresses this week after adding 5,653 new wallets in seven days. That weekly growth rate hit 87%, a sharp jump from the prior week.
According to the Shibizens X account, operated by the Shibarium team, most of that growth traces back to validator re-delegations on the network rather than a wave of new retail buyers. Etherscan data confirmed the total at 93,010 at the time of reporting.
$BONE holder count has surpassed 93,000 addresses.
+5,653 new holders in the last 7 days
→ ~87% increase vs the previous weekKey drivers:
• Validator re-delegations on ShibariumObserved trends:
• Tokens moving off exchanges into non-custodial wallets
• Increased… pic.twitter.com/svq50JlfYP— Shibarium | SHIB.IO (@Shibizens) April 23, 2026
On-chain data also shows BONE tokens moving away from centralized exchanges and into non-custodial wallets. Reports from Shibizens indicate transaction activity is climbing alongside an expanding active user base — trends that typically point to reduced short-term selling pressure and growing user confidence in the network.
Big Wallets Holding Long, Holding More
The 4.2% position increase among large holders in April has pushed their collective share to almost 60% of total supply. These top wallets aren’t new to the token. Based on reports from Shibizens, their average holding period sits around 412 days — well over a year — suggesting major participants are focused on Shibarium’s longer-term trajectory rather than reacting to short-term price swings.
Trading volume also moved sharply higher, rising 51.77% over a 24-hour window to reach $1.7 million. That spike in volume came even as BONE’s price remained under pressure, trading around $0.05766 — a 2.5% drop in a single day.
Price Gap Remains A Heavy Overhang
The numbers paint a complicated picture. Year-to-date, BONE has lost 28% of its value. Over the past month alone, it shed more than 10%. Those losses are part of a much larger decline that has stretched over years.
BONE once traded at $41.67 — its all-time high, reached in September 2021. At its current price, the token sits 99.86% below that peak. The gap between where BONE trades today and where it once stood is something no single week of holder growth can paper over.
The BONE network surpassed 93,000 holders following what the Shibarium team is calling a massive weekly surge. Whether the holder growth, rising volume, and accumulation by large wallets point to something bigger — or simply reflect routine network activity — remains to be seen.
Featured image from Unsplash, chart from TradingView
