Arkham data shows the token’s ownership is highly concentrated, with the largest 1,000 addresses controlling more than $40 million worth of supply.
Meme coin CASHCAT on Robinhood Chain has more than 61,000 holders, but its ownership is heavily concentrated. The top 1,000 addresses control 89.1% of the token’s supply, holdings valued at more than $40 million, based on data cited from Arkham. Such concentration can matter in crypto markets because a relatively small group of wallets may have an outsized influence on liquidity and price moves.