AN and BIG DON both open high with market values reaching tens of millions, funds concentrated in bulk wallets behind the buying

According to GMGN monitoring, recent news suggests that the launch of the BNB Chain USD1 trading competition may have led to the emergence of two meme coins with market values in the tens of millions. The community believes that winning projects are likely to be listed on top exchanges, attracting a large amount of funds into related token pools. AN and BIG DON have performed well, but the source of the buying funds is questionable.

AN: It started before the announcement of the event, with a market value exceeding $30 million at one point. This morning, it surged again, with a market value currently at $45.2 million and a price of about $0.045, with a 24-hour increase of about 16%. The top 100 addresses hold only 11.1% of the total, while most meme coins on the chain have over 50% held by the top 100 addresses;

BIG DON: It opened today and quickly surged, with over 90 suspected associated addresses buying in synchronously within about 10 minutes, pushing the market value to over $34 million rapidly. It is currently at $39.9 million, with a price of about $0.0398, and the top 100 addresses hold only 7%. During a slight market value decline, multiple suspected associated wallets continued to buy in bulk at 6:05, 7:05, and 11 this morning.

Analysts from X platform pointed out that the operators behind these two meme coins may be the same institution as the WLFI project. Additionally, there are indications of wallets transferring out through CiaoSwap (a bulk distribution tool) and then making concentrated purchases. Some associated wallet addresses are:

0xD8b54De07e0eaDc00B760B352AeA59A13d385cbc;

0x6eFFa72a258907399d8DCe258232001A3FA609b9;

Users are reminded that meme coin trading is highly volatile, heavily reliant on market sentiment and concepts, with no actual value or use case. Investors should be aware of the risks.

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