BubbleMaps wants degens to be careful when interacting with the $PIPPIN meme coin, or even steer clear completely. In a post shared via the official BubbleMaps page on X, they called the token, which recently saw explosive growth, a “ticking time bomb.” BubbleMaps called the memecoin a dead meme that suddenly “pumped 1,000%.” The following line of the post revealed “insiders control half the supply, worth $120M.” According to BubbleMaps, $PIPPIN’s story started in 2024 when it was launched by the community in response to a VC identified as Yohei on X posting an AI-generated unicorn called “pippin.” Yohei also endorsed the memecoin after the launch as the token hit $330M FDV before crashing 90%, unable to sustain degen attention. By 2025, BubbleMaps claims most had written it off, and it stayed that way most of the year. However, in the past two weeks, $PIPPIN’s price pulled a 10x, from a $20M to $220M market cap, though there has been no major news, team updates, or posts on X in the past couple of months. PIPPIN/SOL price chart on Raydium. Source: BubbleMaps Why $PIPPIN could be a ticking time bomb BubbleMaps claims to have found up to 50 connected wallets that bought $19M worth of $PIPPIN. According to the platform, the wallets were found to have been funded by HTX in tight time windows, received similar amounts of SOL, and had no prior on-chain activity. 26 addresses that withdrew 44% of $PIPPIN from Gate over 2 months, worth $96M, were also tagged. BubbleMaps noted that most of the withdrawals occurred on October 24 and November 23, and most wallets were freshly funded. “The timing, amounts, and funding patterns suggest these wallets were coordinated,” BubbleMaps wrote, adding that they have escalated the case to their Intel Desk for a community-voted investigation. The high-profile warning from BubbleMaps aligns with general sentiment on Crypto Twitter. The shock from the sudden pump is still coloring perception, but there are already voices of reason amid the chaos calling attention to the numbers and the sheer volume of insiders. One user wrote that a crash was inevitable, and another, who believes the pico-top is in, claims there will be a dump to the $60M range. In the meantime, the team has remained quiet, and even the character that inspired it has kept mute. BubbleMaps sounded the Hawk Tuah insider trading alarm What is happening with $PIPPIN is a common theme in the memecoin space. A case that is currently in litigation, the HAWK token reportedly launched by Hailey Welch, the Hawk Tuah girl who went viral because of a TikTok meme. At the time of launch, Welch promoted the token as her official project, claiming 10% would be locked for the team and vested over three years, while 3% would be burned into LPs like Meteora and Raydium, and the rest would go to presale/community. The token launched at a $20M FDV and surged to a $490M–$500M market cap within minutes, triggering FOMO from retailers looking to make a quick buck. It was a trap because hours after the launch, the $HAWK token dropped by over 95% to hover between $25M and $40M. As it did with the $HAWK token, the frenzied PIPPIN rally has been flagged by BubbleMaps again. The first Hawk Tuah warning came minutes after launch, and another update about insider control and manipulation risks followed. What is happening with PIPPIN is a little different in that it is a meme that has survived a year in the trenches. However, BubbleMaps is convinced there is manipulation involved and a dump is imminent. Join Bybit now and claim a $50 bonus in minutes
