PIPPIN Bubblemaps data keeps raising serious red flags.

Onchain analysis shows insiders controlling nearly 80 percent of the entire PIPPIN supply from a 380 million dollar offering. That level of concentration alone creates extreme imbalance and risk for public participants.

More concerning is the discovery of a coordinated cluster of 11 Bitget linked wallets holding roughly 9 percent of the total supply. This is not organic distribution. It points to tight control and potential coordination around liquidity and price behavior.

This follows earlier observations that cannot be ignored. Token price manipulation on Bitget has already been flagged. PIPPIN was aggressively pumped during periods of active buying, a classic pattern seen when supply control meets thin liquidity.

When insiders dominate supply and exchange linked wallets hold meaningful percentages, price becomes narrative driven rather than market driven. Retail ends up trading against structure, not opportunity.

This is exactly why onchain transparency matters. Bubblemaps is not showing opinions, it is showing ownership reality.

Risk management starts with understanding who actually controls the token.

#PIPPIN #Bubblemaps
$PIPPIN ‌