$BMONEY on-chain, day 34. Every transfer and every swap since launch read straight from the chain (448,577 transfers, 115,960 swaps), the 500 largest wallets followed end to end.
Yes, the price bounced: $4.05M market cap, +10% in 24 hours, holders 4,805 (−21). Here is why the bounce says little on its own: only about 0.08 BTCB (≈ $6K) net came into the pool all day. In a 1.6 BTCB pool that alone is a 10% move. The pool is thin, so small money moves it a lot --> in both directions.
Now the part that matters: who sold and who bought. The 500 largest wallets net bought another $29K today. Everyone else net sold $21K. That is 12 days in a row with the same pattern (Sep 14–25). Since Sep 8: +$764K into the big wallets, −$646K out of the small ones, +$261K in the last 7 days alone. The dip keeps getting bought by the wallets that already hold the most.
216 of the 500 biggest wallets have never sold a single token --> 368M tokens, 38% of everything outside the pool. Their average entry is $3.65M market cap, so today's price sits right at their cost. 62 of them added more in the last 7 days. Not one of them has started selling.
Where the buying sits: below $5.5M market cap, buyers outweigh sellers by $337K since Sep 8. Above $5.5M, sellers win by $174K. The $3.5–4M band has been net bought on 13 of the 14 days it traded. Buyers keep showing up at this level.
What is not happening: no whale dumping, no LP pull (liquidity untouched since launch), no range farming worth mentioning (79 traders made $55K combined out of 1,328 two-way wallets). The only steady seller is the 1% tax contract, ≈ 4.23 BTCB (≈ $343K) since launch. 10 wallet groups hold 15.2% of supply, the largest 4.7%.
What would change my mind: the never-sold wallets start selling, the top 500 turn net sellers, or the LP gets pulled. None of the three has happened.
Descriptive on-chain analysis at wallet level. Not financial advice.
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