Bubblemaps: Insider trading activity on MOTHER tokens

According to blockchain analysis platform Bubblemaps, the new Iggy Azalea memecoin Mother Iggy (MOTHER) has shown "a lot of insider activity". On May 29th, an insider sold about 10% of the total supply of the token. The insider, who owned an account starting with "JEET", reportedly purchased over 109 million MOTHER through off-exchange trading, most of which were subsequently sold on the market. Solscan data shows that JEET received 127.5 million MOTHER from the deployer account. They then sent these funds to several other wallets, at least one of which sold 20 million MOTHER to the Raydium liquidity pool through multiple transactions.