onchain data? it's good to substantiate.

$BIO The move was masterful, two whales dominated 70% of the coins as soon as it was launched, thus taking almost 700 million coins out of circulation, so with only 300 million their value easily rose to above 1 dollar. And now they have a ton of coins and it is still worth 70 cents, but they can't sell it all at once, because they need buyers.