I found heavy insider activity inside $N3ON and the onchain data is bad🚨
Here’s what’s happening:
The biggest red flag is the supply concentration.
The top wallets hold almost everything.
Here are the main holders:
• Wallet 1
FQuLAPzXnLPtmCaAN2b94hyyDgV16jQc68Mrk345tE3L
Holds: 450,000,000 N3ON
This is 45% of the full supply.
Value is around $14M at current price.
• Wallet 2
HEwCSCTK61BuZkcRaDzytoRNVqaPWq8i3Yh5LHWDcw8F
Holds: 200,000,000 N3ON
20% of supply.
Value is around $6.4M.
• Wallet 3
A2Nw4MC7iA6z8VBaNS3aJHDJSE6HxMM8DsHJLKxc7i4c
Holds: 90,000,000 N3ON
Value around $2.9M.
• Wallet 4
HLnpSz9h2S4hiLQ43rnSD9XkcUThA7B8hQMKmDaiTLcC
Holds: 53,240,108 N3ON.
• Wallet 5
os9XCSioNxnooJurJpE1zPFfs3Tsh2stiEZieUwD5UF
Holds: 50,000,000 N3ON.
These five wallets alone control around 84% of the token.
Liquidity is only $3.3M.
If any of these wallets move even a small part of their bags, the chart nukes instantly.
Most of this supply moved inside insider wallets before the main pool went live.
Between November 5 and November 12 the distribution looks nothing like a fair launch.
There are massive transfers happening just hours after mint.
The biggest is the 450M wallet.
This wallet received its funds in large blocks from several “fresh” wallets with no history.
Some of these sending wallets:
5oF3Kk3NQnWVGvVyD2JLzXxBMrnZyFqSYWxw96DdFQJt
EzsH8Tu3ePxG6w8o7Fmx4Aq1ozEpxV5iS6c62D8dM6Uz
7cWShy7tM1tDUn9tF7VnDVLtbXZNcZcGV1EytYr3mB2L
8JmjyqMTsyWXKHaYK3W8okEgFi98NYCJXkJgw2GUL6xC
All within less than 48 hours.
None of these wallets look like presale buyers.
Another pattern:
The second big wallet
HEwCSCTK61BuZkcRaDzytoRNVqaPWq8i3Yh5LHWDcw8F
also received its 200M from a chain of new wallets created the same day.
D8fWk7z6bJ9T8xkC3mZ5s7jFtfsEeUd6tYjx3cQpTu5J
9oE8fNhb1xmxeH5cUWLUhokMqZ1DuM7ThHc6YBbtkG2S
5CKpLX1ztMNgdB4e8L5aRexT4fSNLfzo6VmEjDUKED4k
All created November 5-9.
All funded with small amounts of SOL.
All receiving big N3ON amounts.
Stay safe and always check the wallets before you enter anything.