ChainCatcher report, according to Bubblemaps, approximately 80% of the CHUMP meme coin, a Trump-themed parody token on Solana, is concentrated in a bundled address, and the project has been promoted by multiple crypto Twitter KOLs. On-chain data shows that shortly before the token’s price surge, over 75 new wallets were funded with similar amounts of SOL, which were then used to purchase roughly 80% of CHUMP. These wallets had no prior on-chain activity, and the funds were routed through multiple new addresses, Uniswap trades, and Relay transfers. Bubblemaps noted that the actual controllers of the token remain unclear, but the funding sources and transaction patterns are highly similar, suggesting possible manipulation by a single entity. Investors are advised to proceed with caution.
CHUMP Token Suspected of Being Highly Concentrated in a Single Entity, 80% Held in Bundled Addresses
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Summary
On-chain data shows that 80% of CHUMP, a Solana-based Trump meme coin, is held in bundled addresses, according to ChainCatcher. On-chain analysis reveals that over 75 new wallets received similar amounts of SOL prior to a price surge and purchased the majority of the token. These wallets exhibited no prior activity, with funds routed through multiple addresses, Uniswap, and Relay. Bubblemaps notes that the pattern suggests a single entity may be manipulating the token, advising investors to exercise caution.
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