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Solana Meme Coin PUNCH Soars as On-Chain Sleuths Flag Concentrated Supply, Rug-Pull Risk

On-chain analysis points to concentrated control that has traders warning of a possible rug pull.

Overview

  • PUNCH jumped about 22,290.8% over the past week, briefly topped a $30 million market cap, and registered a 260% daily move to lead CoinGecko’s top gainers and trend charts.
  • Nansen data showed public-figure holdings in PUNCH rose 89.69% over seven days even as smart-money and whale balances declined.
  • On-chain trackers identified a single wallet accumulating roughly $226,000 worth of PUNCH during the rally.
  • Analyst StarPlatinum alleged the creator routed roughly 100 billion tokens through an intermediary that seeded large holders, with three linked wallets controlling a reported 7.75% of supply.
  • The project markets a community token with 1 billion total supply, 0% tax, and claims of locked liquidity and renounced ownership, which critics say contrast with distribution and liquidity patterns seen on-chain.