According to Odaily, blockchain detective ZachXBT has reported that over 78% of the supply of the SMASH token, issued by professional wrestler Khamzat Chimaev, has been purchased by his team. The analysis confirmed that 71% of the wallets of the internal staff and development team are directly related, as these wallets are funded by the same address on Ethereum.
This significant acquisition indicates a strong belief in the potential of the SMASH token by Chimaev's team. The fact that a majority of the wallets are directly linked and funded by the same Ethereum address further strengthens this belief.
However, it is important to note that such a high percentage of token ownership by a single entity could potentially lead to market manipulation. Investors should therefore exercise caution and conduct thorough research before investing in the SMASH token or any other cryptocurrency.