Analysis: PIPPIN insiders control 80% of the token supply.

according to blockchain analysis platform Bubblemaps, insiders control 80% of the PIPPIN token supply, valued at approximately 380 million USD.

Bubblemaps pointed out: since the last disclosure, 16 new wallets with the same pattern have appeared (funded by an exchange, receiving similar amounts of SOL, no history, large withdrawals of PIPPIN from CEX); another group of 11 wallets associated with Bitget was identified, holding about 9% of the supply in total, with fund flows and timing highly consistent, suspected to be controlled by the same entity.