「AN」 and 「BIG DON」 both saw their prices surge to multi-million-dollar market caps at launch, with the underlying funds buying in from a concentrated whale wallet.

January 15 Per GMGN monitoring (via [link]), two meme coins with multi-million-dollar valuations have emerged in $1 pools in recent days—potentially tied to the BNB Chain’s “$1 Trading Competition.” The community widely expects winning projects to list on top exchanges, drawing heavy capital to related token pools. Two standouts—“An” and “BIG DON”—have performed strongly, but questions linger about their buying fund sources. **An** Launched two days before the competition’s announcement, An briefly topped $30 million in market cap. It surged again this morning, now sitting at ~$45.2 million (priced at ~$0.045) with a 24-hour gain of ~16%. This may stem from distributed buys from whale wallets: its top 100 holders control just 11.1% of supply—well below the 50%+ typical for meme coins across blockchains. **BIG DON** Launched today, BIG DON spiked immediately: over 90 suspected affiliated addresses rushed to buy simultaneously within ~10 minutes, pushing its market cap past $34 million quickly. It now sits at ~$39.9 million (priced at ~$0.0398), with top 100 holders controlling just 7% of supply. Notably, during a minor cap pullback early today, multiple suspected affiliated wallets staged concentrated buys at 6:05 AM, 7:05 AM, and 11 AM. An X analyst noted the manipulators behind the two coins may be linked to the same group behind the earlier WLFI project. On-chain data also reveals a wallet that executed centralized buys after distributing funds via CiaoSwap (a batch distribution tool). Some associated addresses: - 0xD8b54De07e0eaDc00B760B352AeA59A13d385cbc - 0x6eFFa72a258907399d8DCe258232001A3FA609b9 **BlockBeats Warning** Meme coin trading is extremely volatile, driven largely by hype and market sentiment with no tangible value or use case. Investors should exercise extreme caution.