Regarding the pippin coin, I dug into the on-chain data and found it quite interesting.

The wallets of those large holders in the coin holding ranking have a particularly concentrated timeline. The addresses ranked 2, 3, 5, 8, as well as 10, 12, 15 to 17, and 19, 20, 22, 24 — guess what? They are all new wallets that were created only during those three days from October 24 to 26.

The buying cost of this batch of addresses is basically locked around 0.02. What’s even more outrageous is that, in addition to the ones that entered the market at the end of October, there are still seven or eight wallets in the top twenty that only made sudden purchases between November 23 and 26.

Roughly calculated, these "new faces" control half of the total supply of pippin, with about 50% of the chips in their hands. You can ponder over this kind of holding structure yourself.