On-Chain Analysis of Stoned Pepe by Bubblemaps

ZachXBT, the acclaimed on-chain detective, has unveiled the questionable activities of influencer Crypto Rover. He's been found actively promoting various meme coins, undermining his followers' trust and being ambiguous about his affiliations.

The role of an influencer within the crypto space is often seen as contentious. They are compensated with tokens for promoting projects, placing them in a conflicted position where their financial interests could cloud their judgment

Yet, Crypto Rover's involvement goes beyond the typical concerns. Our findings indicate that he didn't merely endorse a token—he was instrumental in its launch, all the while keeping his community in the dark.

Stoned Pepe - An Influencer's Scheme

The memecoin STONED was launched on May 15, 2023, at 7:10 AM. Just after its launch, bots sniped 4% of the supply.

Crypto Rover was the first human buyer of STONED, acquiring 2% of the supply with an investment of 0.1 ETH. Within the following hour, he consolidated 9% of the supply across 10 different wallets.

All these wallets point to a unique withdrawal address on Bybit (0x292d), revealing a coordinated strategy behind these purchases.

With 40% of the STONED supply burned, Crypto Rover thus owned 15% of the circulating supply. What's striking is the timeline of events. The promotion of STONED on Twitter only began after Crypto Rover had purchased his tokens, giving him all the time in the world to acquire them at the best price. Taking advantage of the excitement generated after the announcements, he then dumped his tokens on his community.

Crypto Rover managed to sell a significant portion of his tokens for 40 ETH and still owns 2.8% of all the tokens in circulation. Blockchain date confirms that Crypto Rover is, at the very least, a key player within the Stoned Pepe team, but more likely the creator of the token.