Following Binance's announcement of its listing on December 12th, 2023, the enigmatic meme token SATS, valued at 1,000 times more than its underlying SATS token, has witnessed an astronomical surge in value.

The introduction of new trading pairs against USDT, FDUSD, and TRY has resulted in the token's price more than doubling.

However, a deeper dive into on-chain data reveals a concerning trend of concentrated ownership. Despite boasting a market value of $150.8 million, the top 20 holders hold a staggering 333.3 trillion SATS, equivalent to 15.90% of the entire supply.

Of particular note is the revelation that six out of the top 20 holders acquired their SATS through minting, accumulating approximately 78.57 trillion SATS ($35.5 million). This raises questions about wealth distribution within the SATS ecosystem and the potential for manipulation by a select few.

While SATS has benefited from its inclusion on Binance, investors are urged to exercise caution due to the project's lack of transparency and the risk of possible centralization. Given the inherent volatility of meme coins, conducting thorough research before investment is crucial.

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