For more than two years, an anonymous Shiba Inu investor has consistently accumulated Bone ShibaSwap (BONE) tokens daily.  

Famous BONE enthusiast Javier Olmedo highlighted the user’s wallet in an X post yesterday, emphasizing that the investor has been buying the token since 2022. 

Consistent BONE Acquisition 

Data from Etherscan shows that the user, with the wallet ‘0xdc1…bdad1,’ made their first BONE buy on August 29, 2022, nearly three years ago. In this transaction, the user swapped 0.338 ETH to acquire 447.74 BONE. 

Since the first purchase, the investor has not relented in accumulating BONE almost daily. By June 2024, the user had accumulated around 75,000 BONE tokens after over two years of regular purchases. 

Interestingly, the investor increased their pace of accumulation and purchased over 162,000 BONE tokens in under 12 months, from June 2024 to the present. 

At the time of writing, the address has a balance of 237,311 BONE, currently worth $58,553, each priced at $0.2467. Notably, BONE ranks as the biggest holding by dollar value in this investor’s wallet. 

A Staunch Shiba Inu Believer 

Besides BONE, on-chain data suggests that the wallet’s owner is a strong believer in Shiba Inu ecosystem tokens. The wallet holds other ecosystem tokens like SHIB, KNINE, and ROAR. Notably, ROAR was recently highlighted as the hottest token on Shibarium. 

Meanwhile, the investor’s continuous accumulation of BONE elicited reactions among Shiba Inu enthusiasts, with some, like ‘Shib Mehta, ‘ characterizing the investment decision as a smart move. 

The steady purchase of BONE demonstrates the investor’s belief in the token despite its rollercoaster movement over the past few years. 

BONE Suffers Huge Decline 

For context, the Shiba Inu ecosystem team introduced BONE in July 2021. It was initially designed to function as the governance token of Shiba Inu’s native decentralized exchange, ShibaSwap. 

Shortly after BONE’s launch, its price skyrocketed to an all-time high of $41.67 on September 13, 2021. Since reaching this peak, BONE’s price has crashed tremendously. On August 29, 2022, when the user made their first BONE buy, the token traded at an average of $1.37. 

The token continued its plunge as the days passed, ultimately dropping below the $1 mark. While many investors panicked, the owner of 0xdc1…bdad1 saw the decline as an opportunity to continue accumulating BONE at discounted prices almost daily. This strategy has enabled the investor to grow their holdings to 237,311 BONE tokens. 

At press time, BONE is trading at $0.2467, down over 99% from its ATH and 81% beneath the wallet’s average acquisition price.