Meme Coin Named After Influencer Skyrockets, Deployer Nets Minimal Profit
A Solana-based meme coin bearing the name of prominent crypto influencer Ansem has surged to a fully diluted valuation exceeding $108 million. On-chain data reveals that Ansem’s own wallet holds over $71 million worth of the token. In stark contrast, the individual who initially launched the coin reportedly walked away with a profit of just $5,500.
On June 29, on-chain analytics firm Lookonchain detailed the situation, stating that the deployer, identified by the wallet tag “yHCxHB,” invested $6,300 to launch The Black Bull (ANSEM). During the launch, the deployer acquired 792.45 million tokens. Of this amount, 650 million tokens were transferred directly to Ansem’s wallet without charge. The deployer subsequently sold the remaining 142.45 million tokens for $11,800, resulting in a net profit of $5,500. The meme coin has since achieved a market capitalization of over $43 million, according to CoinGecko.
Hupzy, an analyst at Spot On Chain, offered a direct interpretation of the figures. “The deployer handed over 80%+ of his allocation to a single influencer for free, strongly suggesting a pre-arranged promotion deal,” Hupzy wrote. “Ansem’s incentive is to pump and dump. The deployer making only $5,500 confirms he was in it for the relationship, not the token.”
Hupzy further noted that ANSEM’s supply structure is “highly concentrated” and “influencer-controlled,” cautioning that any price movements should be viewed as “potentially manipulated.” Rugcheck.xyz echoed this warning, flagging a risk of market manipulation due to the significant concentration of tokens in unidentified wallets.
As of this report, ANSEM is trading around $0.108, marking a roughly 284% increase in the past 24 hours and a staggering over 19,000% rise over the past week. The token reached an all-time high of $0.1212 earlier today and recorded a 24-hour trading volume of approximately $87.8 million, a 245% jump from the previous day.
A tracking account for the Pump.fun ecosystem has been documenting the meme token’s ascent in real-time. It noted that ANSEM was the top-traded token on Pump.fun by volume in the last 24 hours, with $60 million in trades, significantly outperforming tokens like Jotchua ($5.63 million) and Fartcoin ($3.77 million).
The same account indicated that Ansem linked his X account to Pump.fun 12 days ago and announced he would share a portion of creator rewards with his followers. This announcement appears to have generated substantial early interest, with some traders profiting from early entry.
Lookonchain highlighted one wallet, CxCTVj, which achieved a 261x return by converting $2,330 into $614,500 after purchasing 14.2 million ANSEM tokens near the coin’s inception. Another trader reportedly bought $3,370 worth of the asset when its market cap was around $4 million, later selling for $37,580, securing an 11x gain.
Analyst Ash Crypto pointed out on X that ANSEM had experienced a dramatic surge, moving from a market capitalization of $173,000 to nearly $109 million in a single day, representing a move of approximately 63,000%.
However, the broader meme coin sector has faced significant downturns. Data from CryptoRank indicates that the sector has lost over 84% of its collective value from a 2024 peak of $135 billion to the current $20.74 billion. The sharp, vertical ascent of ANSEM in such a declining market has drawn comparisons to other meme coins like SIREN, which experienced a 95% crash after its whales liquidated 92% of the circulating supply.
Analytics platform Bubblemaps and on-chain investigator ZachXBT had previously warned about SIREN’s concentrated supply months before its collapse. It remains to be seen if ANSEM will face a similar fate, but current data indicates that a single wallet controls a substantial portion of the supply, while the coin’s deployer has realized minimal profits.
