ANSEM, a meme coin on Solana, climbed 18,000% in three days and briefly pushed its market capitalization to $125 million. The move came even as broader crypto sentiment stayed weak, with on-chain flows showing a burst of concentrated buying behind the rally.
12 wallets bought nearly $2 million in 24 hours
On-chain analyst Ai Yi said that over the past 24 hours, 12 separate wallets each purchased more than $100,000 worth of ANSEM. Combined net inflows reached $1.985 million. That cluster of purchases was enough to lift the token’s total market value above $100 million, despite subdued conditions across the wider market.
The token is named after “Ansem,” a well-known figure on X. Operating under @blknoiz06, Ansem has built a strong following in Solana meme coin circles and is widely associated with driving attention toward meme-related tokens in the ecosystem.
Creator wallet spent $6,300 and realized about $5,500 in profit
Blockchain analytics firm Lookonchain identified the original ANSEM creator address as yHCxHB. According to its data, the wallet spent about $6,300 to launch the token and initially received 792.45 million ANSEM. Out of that amount, 650 million tokens were later transferred to Ansem’s personal wallet, reportedly for promotion or community-related use.
The remaining 142.45 million tokens were sold for around $11,800, leaving the creator wallet with an estimated net profit of roughly $5,500. In an update dated June 29, Lookonchain said Ansem’s personal wallet held 604 million ANSEM valued at more than $71 million.
Early buyers posted returns of 261x and 135x
Some of the largest gains went to early buyers. Lookonchain highlighted wallet CxCTVj, which invested only $2,330 and reached a combined realized and unrealized profit of $614,500, equal to about 261x. The wallet sold 4.2 million tokens for $68,100 and still held 10 million ANSEM worth about $548,800 as of June 28.
Another investor, identified as 2M2vLX, bought 25.99 million ANSEM 10 days before the surge for 56.4 SOL, or about $4,050. That position was later fully sold for 7,649 SOL, roughly $539,000, producing a return of around 135x.
Wallet concentration and turnover drew scrutiny
Analysis cited from AInvest said the value of Ansem’s personal ANSEM holdings, at $71 million, at times exceeded the token’s circulating market cap. The recent $1.985 million inflow represented about 1.5% of the total value held across all wallets, showing how a relatively small amount of fresh capital could move the token sharply.
During one stretch, ANSEM recorded $30 million in daily trading volume against a market cap of about $60 million, implying a 24-hour turnover ratio of 0.5. The report also noted that the Crypto Fear and Greed Index stood at just 12, a level associated with extreme fear, while ANSEM was making its move higher.