$KITE 🚨 KITE (Nansen) — WARNING: This Looks Like Distribution
Price is pumping, but on-chain data shows something else:
🔻 Top holders are SELLING into the pump
Nansen shows the Top 100 wallets balance is dropping:
• Top 100 Addresses: 9.29B ↓ 0.41% (30D)
This is a classic sign of distribution:
whales reduce exposure while retail buys the green candles.
⸻
🔥 Heavy whale outflows in balances
In the “Balances” tab, multiple large wallets show strong negative changes:
• Token Billionaire wallets: millions of tokens sold / moved out
• Several “High Balance” wallets: consistent red outflows (2