Analysis: MOTHER has insider trading, over 2 million dollars worth of tokens have been sold

ChainCatcher news, according to a report by Cointelegraph, based on data from the blockchain analysis platform Bubblemaps, the meme coin Mother Iggy (MOTHER) has "significant insider activity." According to a post published on the X platform, over 20% of the total supply of MOTHER was purchased directly from the issuing team by insiders, with tokens worth over $2 million sold as of the time of writing.

Specifically, on May 29, an insider sold approximately 10% of the total supply of the token. This insider owns an account starting with "JEET," and is said to have purchased over 109 million MOTHER through over-the-counter transactions, most of which were subsequently sold off.

According to Solscan data, this user received 127.5 million MOTHER from the deployer account. They then sent these funds to several other wallets, with at least one wallet selling 20 million MOTHER to the Raydium liquidity pool through multiple transactions.