<\/p>\n
On-chain sleuths say a memecoin promoted alongside Ghana\u2019s former president has all the hallmarks of a slow-motion rug: insiders have already sold hundreds of thousands of dollars\u2019 worth of tokens while still controlling nearly the entire supply.<\/p>\n
<\/p>\n
According to on-chain analytics platform\u00a0Bubblemaps<\/a>, a tight cluster of addresses associated with CWU has already unloaded about $600,000 worth of tokens onto the market while retaining overwhelming control of the remaining supply. In a post flagged by Chinese outlet ChainCatcher, Bubblemaps said the connected wallets still hold roughly 85% of CWU, suggesting that what looks like retail trading is actually a thin float sitting on top of a heavily concentrated insider stash.<\/a><\/p>\n CWU is no random memecoin: it drew attention after being promoted as a project linked to John Agyekum Kufuor, the 10th president of Ghana, who was described in marketing materials as an \u201cofficial adviser\u201d to the token. A recent explainer from MEXC said CWU \u201cstarted to gain attention as a leader in memecoin space\u201d after being \u201cregistered with the endorsement of John Agyekum Kufuor,\u201d helping it rally to a market cap of around $120 million and a peak price of roughly $0.135 before sliding to about $0.08, down 32% from the top.<\/p>\n Public messaging from the CWU team claims that 90% of the token\u2019s total supply is \u201cin circulation\u201d and only 10% is reserved for the project treasury. Bubblemaps and other on-chain analyses paint a radically different picture: over 200 newly created wallets were funded in batches in the days around launch, then used to claim most of the CWU supply almost simultaneously, with those wallets now controlling roughly 87\u201390% of the total supply.<\/p>\n <\/p>\n Bubblemaps\u2019 case study on CWU describes \u201cbundled supply\u201d in which more than 200 fresh wallets \u201cclaimed most of the supply at launch and now control nearly 90% of the token,\u201d with transfers and linkages indicating that the addresses \u201cseem interconnected\u201d and likely controlled by a single entity or coordinated group. MEXC\u2019s breakdown echoes that, noting that \u201creports say about 90% of $CWU remains bundled,\u201d meaning that a small network of linked wallets appears to hold almost all the tokens despite public statements about wide circulation.<\/p>\nOn-chain data contradicts the project\u2019s own tokenomics<\/h2>\n