Bubblemaps: PIPPIN insiders control 80% of the token supply, worth approximately $380 million

TechFlow, Dec 16 — According to blockchain analytics platform Bubblemaps, insiders of the PIPPIN token now control up to 80% of the supply, worth approximately $380 million.

Bubblemaps noted: Since the last disclosure, 16 new wallets exhibiting identical patterns have emerged—funded via HTX, receiving similar amounts of SOL, with no transaction history and making large withdrawals of PIPPIN from CEXs. Additionally, a group of 11 wallets linked to Bitget has been identified, collectively holding around 9% of the supply, with highly consistent fund flows and timing, suggesting control by a single entity.