A Solana based meme coin named after crypto influencer Ansem has surged to a fully diluted valuation exceeding $108 million. On chain data shows that Ansem’s wallet now holds more than $71 million worth of the token.
Despite the explosive growth, the wallet responsible for deploying the token reportedly made only $5,500 in profit.
Was It a Pre Planned Arrangement?
On chain analytics platform Lookonchain shared details on June 29, revealing that the deployer, identified by wallet tag HCxHB, spent $6,300 to launch The Black Bull (ANSEM).
During deployment, the wallet acquired 792.45 million ANSEM tokens.
Out of that amount, 650 million tokens were transferred directly to Ansem’s wallet at no cost. The deployer then sold the remaining 142.45 million tokens for $11,800, ending with a net profit of just $5,500.
This has raised serious questions about the token’s launch structure and whether it involved a pre arranged promotional deal.
On chain analyst Hupzy said the numbers strongly suggest coordination behind the scenes.
According to Hupzy, more than 80% of the deployer’s token allocation was handed to a single influencer for free, indicating that the launch may have been structured around promotion rather than organic market demand.
The analyst also argued that the deployer’s minimal profit suggests the main objective was likely gaining access to Ansem’s audience rather than making money directly from the token.
Hupzy further warned that ANSEM’s token distribution is highly concentrated and largely controlled by influencers, making the market vulnerable to manipulation.
Rugcheck issued similar warnings, flagging the token for potential market manipulation due to large supply concentration across a small number of wallets.
At the time of writing, CoinGecko data shows ANSEM trading near $0.108.
The token has gained roughly 284% in the past 24 hours and more than 19,000% over the past week. It also reached a new all time high of $0.1212 earlier today.
Trading activity has exploded as well, with 24 hour volume reaching approximately $87.8 million, up 245% from the previous day.
Massive Gains for Early Traders
A Pump.fun ecosystem tracker has been documenting ANSEM’s rise in real time.
The token reportedly became the most traded asset on Pump.fun over the past 24 hours, recording $60 million in trading volume. This far exceeded other trending meme coins such as Jotchua and Fartcoin, which recorded $5.63 million and $3.77 million respectively.
The same tracker noted that Ansem connected his X account to Pump.fun 12 days ago and announced plans to share a portion of creator rewards with followers.
That announcement appears to have generated strong early momentum and attracted traders looking for quick upside.
Lookonchain highlighted one wallet, CCTV, that achieved a remarkable 261x return after turning $2,330 into $614,500 by buying 14.2 million ANSEM tokens early.
Another trader reportedly invested $3,370 when the token’s market cap was around $4 million and later exited with $37,580, securing an 11x return.
Meme Coin Market Still Under Pressure
Crypto analyst Ash Crypto noted on X that ANSEM’s market cap skyrocketed from just $173,000 to nearly $109 million within a single day, representing a surge of roughly 63,000%.
The move stands out even more because it comes during a difficult period for meme coins.
According to CryptoRank, the meme coin sector has lost more than 84% of its total value, falling from a 2024 peak of $135 billion to around $20.74 billion.
This kind of vertical price action has drawn comparisons to other high risk meme coin launches such as SIREN.
In SIREN’s case, whale wallets liquidated 92% of circulating supply, triggering a devastating 95% crash.
Bubblemaps and blockchain investigator ZachXBT had warned about SIREN’s concentrated token supply months before that collapse.
Whether ANSEM follows a similar path remains uncertain.
What is clear from the on chain data is that one wallet controls a significant portion of supply, while the token’s creator earned almost nothing from the launch.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
