[Bubblemaps: PIPPIN insiders control 80% of supply, valued at approximately $380 million] Bubblemaps pointed out that PIPPIN insiders now control 80% of the token supply, valued at approximately $380 million. Sixteen newly emerged wallets exhibit the same pattern, with similar funding sources, no prior transaction history, and large PIPPIN withdrawals from CEX. Additionally, another group of 11 related wallets collectively holds about 9% of the total supply, with highly consistent fund flows and time windows, suspected to be controlled by the same entity.