CHUMP, a Trump parody meme coin on Solana, appears to be highly concentrated, with about 80% of its supply held in bundled addresses, according to Bubblemaps. The token was also promoted by multiple crypto Twitter KOLs.
On-chain data shows that before CHUMP surged, more than 75 newly created wallets received similar amounts of SOL in a short period and then bought roughly 80% of the token. Bubblemaps said the wallets had no prior on-chain activity, while funds moved through multiple layers of new addresses, Uniswap trades, and Relay. Although the ultimate controller remains unclear, the similar funding sources and trading patterns suggest the token may be controlled by a single entity. Bubblemaps urged caution.
Bubblemaps Flags CHUMP Token as Potentially Controlled by Single Entity
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