"An" and "BIG DON" both surged to a market capitalization of tens of millions immediately after opening, with the backing funds concentrated in bulk wallets buying in.

BlockBeats News, January 15 — According to GMGN monitoring, possibly influenced by the launch of the “USD1 Trading Competition” on BNB Chain, two Meme coins with market caps in the tens of millions USD have recently emerged in the USD1 pool. Due to the community’s general belief that the winning projects may land on top-tier exchanges, the event has attracted significant funds into the related token pools. Among them, “An” and “BIG DON” performed notably, but their buying funds are suspicious.

“An”: Launched two days before the event announcement, its market cap once exceeded $30 million. It surged again this morning, with the current market cap at approximately $45.2 million, and the current price around $0.045. The 24-hour increase is about 16%. This may be due to traders dispersing their wallet purchases, with the top 100 addresses holding only 11.1% of the positions, whereas on other chains, Meme coins typically see over 50% of their top 100 holdings.

“BIG DON”: Opened today and quickly surged, with over 90 suspected related addresses rushing in to buy within about 10 minutes, driving the market cap rapidly past $34 million. It is currently reported at approximately $39.9 million, with a current price of about $0.0398. The top 100 addresses hold only 7%. Notably, during the slight market correction of this coin, multiple suspected related wallets concentrated their purchases at 6:05, 7:05, and 11:00 this morning.

An analyst from platform X pointed out that the operators behind these two major Meme coins may belong to the same organization as the previous WLFI project. Additionally, on-chain data shows that some wallets have transferred out via CiaoSwap (a bulk distribution tool) and then concentrated their purchases. Some related wallet addresses include:

0xD8b54De07e0eaDc00B760B352AeA59A13d385cbc;

0x6eFFa72a258907399d8DCe258232001A3FA609b9;

BlockBeats reminds users that Meme coin trading is highly volatile, heavily dependent on market sentiment and hype, and lacks real value or utility. Investors should be cautious of the risks.