Analysis: Approximately 80% of PIPPIN's supply is held by internal addresses, suspected to be controlled by the same entity
According to Odaily, Bubblemaps posted on X stating that the price of PIPPIN continues to rise, but noted that internal addresses currently hold about 80% of the supply, valued at approximately $380 million. Bubblemaps pointed out: Since the last disclosure, 16 new wallets have emerged with the same pattern (funded by a certain exchange, receiving similar amounts of SOL, no history, and large PIPPIN withdrawals from CEX); another group of 11 wallets associated with Bitget was identified, collectively holding about 9% of the supply, with highly consistent fund flows and time windows, suspected to be controlled by the same entity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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