According to CoinMeta, as monitored by bubblemaps, the recently popular meme coin Pipedog on Robinhood has a problem of highly concentrated tokens. A single entity snatched 54% of the tokens at launch through approximately 80 wallets with no historical activity. These wallets received funds from multiple CEX sources between July 26th and 27th and were bridged to Robinhood within a short time frame. Although this entity attempted to cover up its association by buying through a single wallet and then routing the tokens to other wallets in the same transaction, it has since sold tokens worth $1 million and still controls tokens worth $16 million.