Shiba Inu Token BONE Seeing High Utility From Whales, What's Happening?

Shiba Inu governance token, BONE, is seeing profound utility from whales as it ranks as one of the most used smart contracts among the top 500 ETH whales in the last 24 hours. Notably, BONE's smart contract usage for this category of whales is up 100% in the last 24 hours.

JUST IN: $BONE @shibtoken one of the MOST USED smart contracts among top 500 #ETH whales in the last 24hrs🐳

We've also got $BAL, $RARI, $AAVE & $AURA on the list 👀

Whale leaderboard: https://t.co/tgYTpOmDm0#BONE #whalestats #babywhale #BBW pic.twitter.com/nmI5TuaxOn

— WhaleStats (tracking crypto whales) (@WhaleStats) October 21, 2022

At the time of publication, BONE's price was up 3.72% at $0.93. While the reason for the spike in utility remains unknown, it seems whales are content to employ another Shiba Inu ecosystem token while SHIB sits in their wallets.

Whales continue to hodl Shiba Inu (SHIB), as seen in fewer active SHIB addresses in the last 24 hours per WhaleStats data. Shiba Inu (SHIB) also remains the biggest holding of the top 1,000 ETH whales, who are now hodling $124,278,892 worth of SHIB.

SHIB is recording more "hodlers," or long-term holders, as the bear market evolves. Per IntoTheBlock's holders' composition by time held, 36% of SHIB holders have held onto their tokens for more than a year, 61% have held within a year, and 3% have held onto their tokens for less than a month. At the start of 2022, the number of hodlers was far lower.

Shiba Inu can now be utilized on Amazon and Netflix

According to an announcement made by the crypto payment gateway FCF Pay, Shiba Inu (SHIB) can now be accepted for its Prepaid Crypto Debit Card.

SHIB thus becomes the first non-stablecoin accepted for the FCF Pay crypto cards, which can be used in several places, including Amazon and Netflix. The card could also be included in Google Pay to be used in-store.

As reported by U.Today, FCF Pay announced support for the Shiba Inu trifecta — SHIB, BONE and LEASH — as it added BONE and LEASH as payment options across its merchant network a while back.