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Crypto

PIPEDOG Tokens Spark Manipulation Fears After Developer's Rapid Deployment

Guavy AI Editorial Team
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DOG
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A developer released two tokens named PIPEDOG on the Robinhood Chain within 17 minutes of each other, sparking concerns about potential manipulation.

The first token was deployed at 04:12 on July 28 and had a market cap of $2.11 million just three minutes later. However, its developer withdrew related liquidity shortly after, causing its market cap to plummet to around $9,000.

The second PIPEDOG token was deployed at 04:29 by the same developer address and reached a peak market cap of $74.6 million. A significant portion of this token's supply is held in cluster addresses, with 146 addresses controlling about 32% of the tokens.

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