The warning comes as 74,863 wallets have bought the token and more than 53,500 are in profit, despite disputed claims linking CATE to Kabosu and her owner Atsuko Sato.
BubbleMaps said 25 wallets control 19% of the CATE memecoin supply, raising concentration concerns even as the token shows unusually strong paper gains for a memecoin at this stage. The on-chain analytics firm said in an X thread on Wednesday, August 3, that 74,863 wallets had bought CATE, with more than 53,500 currently in profit. It added that two investors are up by more than $1 million, 48 by more than $100,000, and 1,618 by more than $1,000. The firm questioned how long holders will keep their positions, underscoring that gains can evaporate if large wallets begin selling. CATE has marketed itself around an implied link to Kabosu, the Shiba Inu behind the Doge meme, but that connection has been challenged. Atsuko Sato said the CATE tokens in circulation have nothing to do with her and that an old Instagram post was used without permission to create that association. She said Own The Doge is the only project she has authorized to manage her intellectual property. BubbleMaps' warning also echoes earlier memecoin distribution checks in July, when it highlighted losses across Robinhood Chain's top 50 memecoins and flagged other tokens facing concentrated ownership or steep selloff risks.