# $MACHI — Structural Analysis Report

> Case Study #001

**Published by:** [Wallet Labs](https://paragraph.com/@walletlabs/)
**Published on:** 2026-03-09
**URL:** https://paragraph.com/@walletlabs/machi-structural-analysis

## Content

WALLET LABS RESEARCHWallet Labs dataset entry documenting the launch structure, creator attribution, supply distribution, and early lifecycle behavior of the Solana token Machi Big Brother.Figure 1 — $MACHI market activity during the early lifecycle phase.Research ContextWallet 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.Token OverviewToken Name Machi Big Brother Ticker MACHI Contract Address ATBR4i19gcQ31Rfr7ymA2XvkCQEAkNFGBtVKTmdqpump Solscan https://solscan.io/token/ATBR4i19gcQ31Rfr7ymA2XvkCQEAkNFGBtVKTmdqpump Blockchain Solana Launch Platform Pump.fun Token Page 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 ≈ $2,800,000Launch InformationFirst Mint Timestamp 09:13:05 — March 02, 2026 (UTC)Creator Wallet Hp34goKgAhAYW6sw9iFAZofvDTr3DAhtkSKF1R9bAk2P Pump.fun Creator Profile helixbt Creator Profile https://pump.fun/profile/helixbtCreator Profile MetricsFollowers: 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.Funding StructureCreator 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.Token Mint AuthorityMint 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.Market Metrics (Observed Snapshot)Market Cap ≈ $597,200 All-Time High ≈ $2,800,000 Token Age ≈ 6 daysLiquidity and Trading ActivityEarlier 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.Holder DistributionLargest 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.Supply StructurePump.fun AMM Liquidity Pool ≈ 5.75% of supply Largest Non-Liquidity Wallet ≈ 2.32%Concentration MetricsTop 10 Holders ≈ 18.3% Top 20 Holders ≈ 29.6%Observed Holder Allocation PatternEarly 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.Holder Network StructureFigure 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 holdersCluster 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.Example Cluster WalletsCluster #1 CqrWHw...kxzD → 3.35% ApRnQN...Hdz1 → 1.24% Bf4zji...cJm6 → 0.91% Cluster #2 99wgtd...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%Early Transaction BehaviorObserved 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.Creator Deployment Behavior 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.Early Lifecycle BehaviorThe 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.Structure SignalsExchange-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%.Observed Lifecycle ModelLaunch (Pump.fun) ↓ early buyer distribution ↓ rapid trading expansion ↓ market cap peak ↓ distribution phaseResearch ObjectivesFigure 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.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.Data SourcesAll 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 snapshotsResearch DisclaimerThis 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.Dataset TagsSolana Pump.fun Token Analysis Wallet Structure Market StructureWALLET LABSBlockchain market structure research focused on wallet behavior, liquidity dynamics, and early lifecycle token analysis. Website https://walletlabs.tech Follow Wallet Labs https://x.com/WalletLabsHQ Data over narrative.

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