Odaily reports: Crypto analyst The Smart Ape posted on X platform that by tracking the mihao developer's wallet transaction records since the project launched, it was found that although the developer did not directly sell tokens, they had freely distributed approximately 7% of the total supply to 22 wallets. These wallets continuously sold during subsequent large purchase periods, collectively profiting approximately 2,620 SOL and $60,000, with 12 of these wallets now having emptied their holdings. Two other wallets had transferred SOL to the same address used by the developer when transferring out personal funds.
The analyst also stated that the mihao developer has cumulatively received approximately 650 SOL and $2,200 in creator fees since the project launched, with 414 SOL earned in just two days between November 10 and 11. Additionally, a wallet tagged as Pump.fun application transaction fees transferred $9,200 USDC to the developer. The developer also invested approximately 320 SOL into 19 other tokens, of which 157 SOL was used to purchase a token issued by an affiliated wallet, currently holding approximately 47% of that token's supply.
Currently, the developer still holds approximately 30 million mihao tokens, worth about $520,000, with another 54 million tokens locked until November 2027.
