Analysis: Insider trading exists in MOTHER, over 2 million dollars of tokens have been sold

According to data from the blockchain analysis platform Bubblemaps, there is a "large amount of insider activity" with the Meme coin Mother Iggy (MOTHER). According to posts published on platform X, over 20% of the total supply of MOTHER was directly purchased by insiders from the issuing team. As of press time, tokens worth more than $2 million have been sold.

Specifically, on May 29th, an insider sold about 10% of the token's total supply. This insider has an account starting with "JEET", who reportedly bought over 109 million MOTHER through OTC trades, most of which were subsequently dumped.

Data from Solscan shows that this user received 127.5 million MOTHER from deployer accounts. They then sent these funds to several other wallets, at least one of which sold 20 million MOTHER to Raydium liquidity pool through multiple transactions.