Analysis: PIPPIN's internal addresses hold approximately 80% of the supply, suggesting it may be controlled by the same entity.

According to Odaily Planet Daily, Bubblemaps published an article on the X platform stating that the price of PIPPIN continues to rise, but it claims that an internal address currently holds approximately 80% of the supply, worth about $380 million. Bubblemaps points out that since its last disclosure, 16 new wallets have emerged with the same pattern (funds from HTX, receiving similar amounts of SOL, no history, and large withdrawals of PIPPIN from CEXs); another group of 11 wallets associated with Bitget has been identified, holding a total of approximately 9% of the supply, with highly consistent fund flows and time windows, suggesting they are controlled by the same entity.