About 80% of tokens concentrated in bundled addresses, CHUMP suspected to be controlled by a single entity

Odaily reported that according to Bubblemaps monitoring, about 80% of the tokens of CHUMP, a Trump-themed meme coin on the Solana ecosystem, are concentrated in bundled addresses and promoted by multiple crypto Twitter KOLs. On-chain data shows that before the token price surged, over 75 new wallets were injected with similar amounts of SOL within a short period, which then bought about 80% of CHUMP tokens. These wallets had no prior on-chain activity, and the relevant funds were transferred through multiple layers of new addresses, Uniswap transactions, and Relay. Bubblemaps stated that it is currently unclear who actually controls the token, but the funding sources and trading patterns are highly similar, suggesting possible manipulation by a single entity, and advised investors to participate with caution.