Bubblemaps: Insiders at PIPPIN now control 80% of the token's supply, worth approximately $380 million

BlockBeats News, December 16th, Blockchain analytics platform Bubblemaps tweeted that the PIPPIN token's supply, controlled by insiders, has reached 80%, with a value of around $380 million.

There have been 16 newly emerged wallets showing the same pattern, with similar funding sources, receiving a comparable amount of SOL, no prior transaction history, and withdrawing large amounts of PIPPIN from a CEX. Additionally, there is another group of 11 associated wallets holding approximately 9% of the total supply, with fund flows and time windows highly consistent, suspected to be controlled by the same entity.