Bubblemaps: CHUMP token is suspected to be highly controlled by a single entity, with about 80% of the tokens concentrated in a bundled address

According to Bubblemaps, approximately 80% of the tokens for the Solana ecosystem's Trump parody meme coin CHUMP are concentrated in bundled addresses, with the project being promoted by several crypto Twitter KOLs.

On-chain data shows that before the token surged, over 75 new wallets were injected with a similar amount of SOL in a short period, and then bought about 80% of CHUMP. These wallets had no prior on-chain activity, and the funds were transferred through multiple new addresses, Uniswap trades, and Relay.

Bubblemaps stated that it is currently unclear who the actual controlling party of the tokens is, but the source of funds and trading patterns are highly similar, suggesting that a single entity may be in control, and advising investors to participate with caution.