According to BlockBeats, shortly after the launch of the Base chain Meme coin POOP, issued by Doodles co-founder Poopie, two wallets purchased more than 36% of the token's total supply, surpassing the 15% allocation for community members and early adopters. One of the wallets bought 23.5% of the token supply but still holds a 20% share by transferring it into 95 different wallets. So far, a profit of $450,000 has been realized.
Bubblemaps, a blockchain analysis company, provided the data on the wallets' acquisitions. The large purchases of the Meme coin POOP have raised concerns about potential market manipulation and the concentration of wealth within the cryptocurrency market. As the token's value continues to grow, it remains to be seen how these large holdings will impact the overall market and the future of the Meme coin POOP.