A coin held by 315,000 people, but the top 10 hold 80% | The numbers on
$IDOL look more and more off the more I crunch them
Let me start with the conclusion:
$IDOL may look like it has a lot of holders, but the tokens are actually concentrated in a few hands. I’m putting it on my watchlist for now.
I checked the on-chain data: 315,000 addresses hold
$IDOL , which sounds pretty lively. But the top 10 addresses hold 79.9% combined, and the top three alone account for 53.5%. The largest address holds 133.9 million tokens, worth $40.2 million. The 315,000 people are left to split the remaining 20%, averaging 3,045 tokens each, or $91 at the current price of $0.03.
This is MEET48’s coin, tied to its AI virtual idol project. It had its TGE through Binance Wallet on June 11, with 192M tokens subscribed. When I wrote about it on October 30, it was at $0.0142. Now it’s $0.03, more than double in ten days. It touched a high of $0.0446 on November 7, but has since fallen by more than 30%, with a roughly 11% drop in the past 24 hours.
The market cap listed is $143 million, calculated as a total supply of 4.8 billion tokens multiplied by the current price. Different sites calculate circulating market cap differently: one puts it at $66 million, while two others put it at just over $27 million. The numbers don’t add up, so I’m not taking a firm position.
As for trading, 24-hour volume is $13.5 million: 29,000 buys totaling $6.71 million, and 35,000 sells totaling $6.75 million, for net selling of $42,000. The main pool is
$IDOL paired with
$BNB , with $1.54 million in liquidity. Trading volume is 8.8 times the pool size. Buy and sell taxes are both 0%, and in a sell simulation, 17 out of 3,430 wallets failed.
There are only two things holders can check right now: whether those top addresses have moved, and whether the tokens bought around the November 7 high have started coming out. If the top 10’s share keeps rising, or the pool keeps shrinking, I’ll set it aside for now.
315,000 people sharing 20% of the tokens—do you think this coin is retail-driven or controlled by whales?
This is not investment advice. Alpha projects are high-risk and could go to zero. Follow me, and I’ll see you tomorrow with another look at the ledger.
#BinanceAlpha #IDOL #MEET48