# $MACHI — Structural Analysis Report

*Case Study #001*

By [Wallet Labs](https://paragraph.com/@walletlabs) · 2026-03-09

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WALLET LABS RESEARCH
--------------------

Wallet Labs dataset entry documenting the launch structure, creator attribution, supply distribution, and early lifecycle behavior of the Solana token Machi Big Brother.

![](https://storage.googleapis.com/papyrus_images/6581b44510f406fa023c0d3de2d8f9bd9df70a7d4a670c23917a3a499b9c8416.png)

Figure 1 — $MACHI market activity during the early lifecycle phase.

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Research Context
================

Wallet Labs studies the structural behavior of newly launched cryptocurrency tokens during their earliest market phases.

**New tokens**—particularly those launched through automated platforms such as **Pump.fun**—often experience rapid liquidity formation, concentrated early ownership, and accelerated trading activity. These conditions create environments where market structure evolves quickly and distribution patterns can shift within hours or days.

The objective of Wallet Labs research is to document these structural conditions using publicly observable blockchain data.

**Rather than focusing on price speculation, the research framework analyses measurable signals including:**

**•** wallet concentration  
**•** liquidity formation  
**•** early transaction behavior  
**•** wallet cluster relationships  
**•** creator deployment patterns  
**•** distribution velocity across holders

By analysing these signals across multiple token launches, Wallet Labs aims to better understand how early-stage token markets develop and how ownership structures change during the initial lifecycle phases.

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Token Overview
==============

**Token Name  
**Machi Big Brother

**Ticker  
**MACHI

**Contract Address  
**ATBR4i19gcQ31Rfr7ymA2XvkCQEAkNFGBtVKTmdqpump

**Solscan  
**[**https://solscan.io/token/ATBR4i19gcQ31Rfr7ymA2XvkCQEAkNFGBtVKTmdqpump**](https://solscan.io/token/ATBR4i19gcQ31Rfr7ymA2XvkCQEAkNFGBtVKTmdqpump)

**Blockchain  
**Solana

**Launch Platform  
**Pump.fun

**Token Page  
**[**https://pump.fun/coin/ATBR4i19gcQ31Rfr7ymA2XvkCQEAkNFGBtVKTmdqpump**](https://pump.fun/coin/ATBR4i19gcQ31Rfr7ymA2XvkCQEAkNFGBtVKTmdqpump)

**Decimals  
**6

**Token Age at Time of Analysis  
**≈ 6 days

**Market Cap** (Observed Snapshot)≈ $597,000

**All-Time High Market Cap  
**≈ $2,800,000

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Launch Information
==================

**First Mint Timestamp  
**09:13:05 — March 02, 2026 (UTC)

![](https://storage.googleapis.com/papyrus_images/a3effe3968c1f0b73424bd1a9ee6f0584c2d8b9f4679e52f0ab46ec589f7f279.png)

**Creator Wallet  
**Hp34goKgAhAYW6sw9iFAZofvDTr3DAhtkSKF1R9bAk2P

**Pump.fun Creator Profile  
**helixbt

**Creator Profile  
**[**https://pump.fun/profile/helixbt**](https://pump.fun/profile/helixbt)

### **Creator Profile Metrics**

Followers: **215  
**Following: **0**Tokens Deployed: **386**

The **Pump.fun** platform automatically associates token deployments with the wallet that performs the mint transaction. The creator profile **helixbt** is linked to the wallet above and shows **386 deployed** **tokens**, indicating a **high-frequency** **deployer profile** on the platform.

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Funding Structure
=================

**Creator Wallet  
**Hp34goKgAhAYW6sw9iFAZofvDTr3DAhtkSKF1R9bAk2P

**Funding Wallet  
**AcxSZuEJanntTJLKBNWmVrQNVourKhwLHehLbDLdQLUv

**Funding Origin  
**Kraken Hot Wallet

**Observed funding path:**

Kraken Hot Wallet **→** intermediary wallet **→** creator wallet **→ Pump.fun** deployment

This indicates that exchange-origin funds were transferred to the creator wallet prior to the token deployment.

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Token Mint Authority
====================

**Mint Authority  
**TSLvdd1pWpHVjahSpsvCXUbgwsL3JAcvokwaKt1eokM

**Authority Type  
**Pump.fun Token Mint Authority

**Owner Program  
**System Program

**Pump.fun** tokens typically begin with mint authority controlled by the platform before transitioning into the bonding curve trading phase.

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**Market Metrics** (Observed Snapshot)
======================================

**Market Cap  
**≈ $597,200

**All-Time High  
**≈ $2,800,000

**Token Age  
**≈ 6 days

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**Liquidity and Trading Activity**
==================================

Earlier market observations recorded the following metrics during the early lifecycle monitoring phase.

**Observed Liquidity Range  
**$95,000 – $135,000

**Early Market Cap Snapshot  
**≈ $222,000

**Example 24-Hour Trading Volume  
**≈ $1,100,000

**Transactions** **(24-hour snapshot)  
**≈ 10,600

**Unique Traders  
**≈ 1,500

**Total Holders  
**≈ 1,400

These metrics indicate a high level of trading activity relative to available liquidity during the early lifecycle phase.

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**Holder Distribution**
=======================

**Largest Holder (LP Pool)  
**6.64%

**Top 50 Holders  
**56.37%

**Top 100 Holders  
**75.80%

The holder distribution reflects a moderately concentrated early supply structure, which is common among newly launched micro-cap tokens.

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**Supply Structure**
====================

**Pump.fun AMM Liquidity Pool  
**≈ 5.75% of supply

**Largest Non-Liquidity Wallet  
**≈ 2.32%

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**Concentration Metrics**
=========================

**Top 10 Holders  
**≈ 18.3%

**Top 20 Holders  
**≈ 29.6%

### **Observed Holder Allocation Pattern**

Early holders cluster within the range of approximately **1.0% – 2.3%.**

**This indicates:**

**•** no dominant single whale**•** moderate early concentration**•** distribution across multiple early buyers

Such allocation patterns are typical of **Pump.fun** bonding curve launches.

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**Holder Network Structure**
============================

![](https://storage.googleapis.com/papyrus_images/23a3e76416e0f2a52c164a6a8a36ff848071bb9b3b2ab4592323d22b360979eb.png)

Figure 2 — Wallet cluster visualization showing early holder distribution patterns for $MACHI.

**Proxy wallet mapping suggests the following network pattern:**

central wallet hub**  
↓  
**cluster wallet groups**  
↓  
**independent retail holders

**Bubble map visualization indicates:**

**•** a central distribution hub**•** several interconnected wallet clusters**•** an outer ring of independent retail holders

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Cluster Analysis (Proxy Mapping)
================================

Proxy wallet mapping identified several clusters connected through transfer relationships.

**Observed clusters include:**

**Cluster #1** — 5.50%**Cluster #2** — 1.89%**Cluster #3** — 1.18%**Cluster #4** — 1.11%**Cluster #5** — 0.96%**Cluster #6** — 1.03%**  
Cluster #7** — 0.65%

**Total cluster-linked supply observed:**

≈ 12.32%

Clusters represent wallets sharing transfer relationships or interaction patterns.

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Example Cluster Wallets
=======================

**Cluster** #1  
CqrWHw...kxzD → **3.35%**  
ApRnQN...Hdz1 → **1.24%**  
Bf4zji...cJm6 → **0.91%**

**Cluster** #299wgtd...8omy → **1.01%**  
GKyyrm...89GR → **0.25%**  
BzbB5i...Us5d → **0.19%**  
FA5ndD...6Mzo → **0.17%**  
8SAQcs...Mg5h → **0.14%**

**Cluster** #3  
winrih...SC2t → **0.95%**  
DqyuPp...y7k2 → **0.23%**

**Cluster #4**  
3Gz6BV...DFvp → **1.11%**

**Cluster #5**  
HywxKk...5rPy → **0.53%**  
4aeLUK...A1pL → **0.43%**

**Cluster #6**  
CCVQXQ...tokZ → **1.03%**

**Cluster #7**  
5D7Jqf...szno → **0.65%**

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Early Transaction Behavior
==========================

**Observed launch-phase transaction pattern:**

token mint  
**↓**  
initial buys  
**↓**  
wallet transfers  
**↓**  
distribution across cluster wallets

**Example early swap transaction:**

2.999999999 SOL **(~$247)**

**Tokens received:**

96,449,438 tokens

Following the swap, tokens were transferred across multiple wallets, contributing to the early distribution layer.

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Creator Deployment Behavior
===========================

![](https://storage.googleapis.com/papyrus_images/db261179394f86ffe3bf757fef2a61f59e296f5eeb30f0517d4d0bac8493bc2f.png)

Figure 3 — **Pump.fun** creator profile associated with the deployment wallet.

**Creator profile**  
helixbt

**Total tokens deployed**  
386

**Examples of tokens deployed by the same creator profile include:**

Benjamin Netanyahu  
Tom  
Bodie  
Bullshit With Fur  
The Waluigi Effect  
Hiroo Onoda  
RIP Mahmoud Ahmadinejad

These appear as separate token deployments associated with the same **Pump.fun** creator profile.

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Early Lifecycle Behavior
========================

The token followed a lifecycle consistent with **Pump.fun** launch mechanics.

**Phase 1** — Deployment  
The token was deployed via **Pump.fun** by the creator wallet.

**Phase 2** — Bonding Curve Distribution  
Early buyers acquired tokens through bonding curve trading.

**Phase 3** — Liquidity Formation  
Liquidity transitioned into the **Pump.fun** AMM pool.

**Phase 4** — Early Holder Layer  
Supply spread across multiple early wallets.

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Structure Signals
=================

**Exchange-Funded Deployment  
Observed funding path:**

Kraken **→** intermediary wallet **→** creator wallet **→ Pump.fun** deployment

**Serial Deployer Profile**  
Creator profile **helixbt** has deployed **386 tokens**.

**Pump.fun Native Launch Structure  
Evidence includes:**

**•** bonding curve token mint  
**•** bonding curve trading phase  
**• Pump.fun** AMM liquidity creation

**Moderate Early Supply Concentration**  
Top 10 holders ≈ **18.3%**  
Top 20 holders ≈ **29.6%**

Distributed Early Holder Layer  
Top holders cluster between **1% – 2.3%**.

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Observed Lifecycle Model
========================

Launch (**Pump.fun**)  
**↓**  
early buyer distribution  
**↓  
**rapid trading expansion  
**↓**  
market cap peak  
**↓  
**distribution phase

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Research Objectives
===================

![](https://storage.googleapis.com/papyrus_images/1d572283eef9829b6a5582b79da8e4199c84f1726d65220acdef75560cd4f61f.png)

Figure 5 — Wallet Labs research framework illustrating the structural signals analysed in early-stage token markets.

The **$MACHI** dataset forms part of a broader Wallet Labs effort to document behavioral patterns present in early-stage token markets.

By analysing multiple token launches using the same structural framework, Wallet Labs aims to identify recurring patterns that may appear across different deployments and market conditions.

**Areas of interest include:**

**•** repeated wallet behavior across token launches  
**•** creator deployment frequency and launch patterns  
**•** liquidity formation across automated launch platforms  
**•** early holder concentration and distribution velocity  
**•** wallet cluster structures and proxy ownership relationships

Collecting comparable datasets across many tokens allows structural signals to be observed over time rather than within a single isolated market event.

This research approach helps build a clearer understanding of how early token ecosystems function and how ownership, liquidity, and participation evolve during the first stages of a token’s lifecycle.

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Research Significance
=====================

**This dataset provides visibility into:**

**•** creator wallet attribution  
**•** token launch platform mechanics  
**•** funding origin  
**•** cluster wallet relationships  
**•** holder concentration patterns  
**•** proxy wallet distribution  
**•** early lifecycle trading behavior  
**•** serial token deployment profiles

These observations contribute to Wallet Labs research into structural behavior and distribution patterns observed in early-stage micro-cap token markets.

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Data Sources
============

**All observations in this report are derived from publicly available on-chain data including:**

**•** Solana blockchain transaction records  
**• Pump.fun** deployment metadata  
**•** token holder distribution data  
**•** liquidity pool metrics  
**•** transaction history snapshots

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Research Disclaimer
===================

This report documents observable blockchain data at the time of analysis.

Wallet Labs does not make claims regarding the **identity or intent of any wallet owner**. All findings represent structural observations derived from publicly available on-chain data.

Blockchain markets are highly dynamic, and conditions may change after the time of observation.

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Dataset Tags
============

Solana  
Pump.fun  
Token Analysis  
Wallet Structure  
Market Structure

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WALLET LABS
===========

Blockchain market structure research focused on wallet behavior, liquidity dynamics, and early lifecycle token analysis.

**Website**  
[https://walletlabs.tech](https://walletlabs.tech)

**Follow Wallet Labs**  
[https://x.com/WalletLabsHQ](https://x.com/WalletLabsHQ)

**Data over narrative.**

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*Originally published on [Wallet Labs](https://paragraph.com/@walletlabs/machi-structural-analysis)*