Mark Longo, the owner of the internet-famous squirrel Peanut, launched his own token , Justice for Fred and Pnut $(JUSTICE) in a response to $PNUT after he called out the crypto community for earning profits from the death of Peanut. However, $JUSTICE has come under crypto twitter’s scrutiny in the wake of centralization issues.
$JUSTICE and Centralization Issues: Bubblemaps Investigates
According to blockchain data firm, Bubblemaps, nearly 80% of the tokens are suspected to be controlled by the internal team. Data shared by Bubblemaps further shows that before Mark officially announced the token issuance, multiple addresses had already coordinated to hoard the token supply.
Bubblemaps further added, “Additionally, the top 45 holders of $JUSTICE were all funded within a three-hour window on 11/24/2024, between 16:40:20 and 19:39:47. Funds came from protocols or CEX hot wallets.”
On the basis of these ‘coordinated funds’, the blockchain data firm has deduced that there are strong indications that one person or perhaps a small group is controlling these wallets.
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“Is the owner of Peanut using $JUSTICE as a revenge plot or a cash grab?”, wrote Bubblemaps.
Soon after these explosive findings, several crypto enthusiasts jumped on the bandwagon to call out Longo’s crypto launch. The crypto community countered Longo’s accusations by saying that they had donated around $50,000 to him, only for him to immediately sell it.
To this Longo responded by saying, “All proceeds will go to our construction projects here at Pnuts Freedom Farm.” Longo has also shared that he will sue for copyright infringement, “Our lawsuit will be presented to the world very shortly and we WILL get justice for not only Fred and Pnut but for everyone moving forward.”
$JUSTICE is currently trading at $0.06162 after a jump of 80.7% in the past day, and has already reached a market cap of $60.39M. Meanwhile $PNUT is trading at $1.12 after a dip of over 16% in the past 24 hours, and has a market cap of $1.12 billion.
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Also Read: PNUT Plunges 30%, Shiba Inu (SHIB) Slides 4.6% In 7-Day
