mihao Developer Distributes Tokens to 22 Wallets, 12 Wallets Have Liquidated

Crypto analyst The Smart Ape tracked the wallet transactions of the mihao developer and found that the developer distributed tokens equivalent to about 7% of the total supply for free to 22 wallets. These wallets continued to sell during subsequent large purchases, cumulatively profiting approximately 2,620 SOL and $60,000, with 12 wallets having completely liquidated their holdings. Additionally, two wallets transferred SOL to the same address used by the developer for personal fund withdrawals. Since the project's launch, the developer has accumulated approximately 650 SOL and $2,200 in creator fees, with 414 SOL earned over the two days from November 10 to 11. Furthermore, a wallet marked for application transaction fees, Pump.fun, received $9,200 USDC. The developer invested about 320 SOL into 19 other tokens, with 157 SOL used to purchase a token issued by an associated wallet, currently holding about 47% of that token's supply. The developer still holds approximately 30 million mihao, valued at about $520,000, with another 54 million tokens locked until November 2027.

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