TROLL Pumps 80% In A Day — But 40 Wallets Control Nearly Half The Supply

• According to CoinGecko, TROLL gained over 80% in 24 hours and 677.9% in 30 days.
• In recent weeks, whale accumulation and greater liquidity have raised TROLL's market valuation from $10 million to $75–85 million.
• TROLL became the top-trending ticker on Stocktwits, as chatter reached "extremely high" levels over the past day.

Troll (TROLL), a Solana-based (SOL) meme coin, is one of the stars of today’s on-chain speculation mania, jumping over 80% in the past 24 hours.

At present, the token has a market cap of $90.85 million, a 24-hour trading volume of $27.59 million, and an intraday range of $0.05064 to $0.09692.

On Stocktwits, TROLL’s price was $0.09094, and it was the top-trending ticker, with retail sentiment moving to ‘extremely bullish’ from ‘bullish’ and chatter rising to ‘extremely high’ from ‘high’ levels over the past day.

The rally extends a longer breakout. CoinGecko data showed that TROLL has risen 227.6% over seven days, 303.1% over 14 days, and 677.9% over the last 30 days. On-chain analytics platform Elfa noted that the token's market cap has surged from about $10 million to $75-85 million in recent weeks due to “heavy whale accumulation and thicker liquidity,” which have dramatically increased short-term upward price pressure.

The spike is part of a bigger story. May 10th’s market rebound has led to renewed on-chain activity, with OG Solana meme coins TROLL and Gigachad (GIGA), according to Lookonchain data. Both saw sharp gains. GIGA rose 49.8% in 24 hours, with a roughly $36.8 million market cap at the time of reporting.

Most of TROLL’s tokens are already circulating (998.88 million of a total 1 billion). TROLL's market cap on the DEX (PumpSwap, via GeckoTerminal) is currently $91.37 million, down 0.36% on the latest candle. 

Further popular trader AshRobin also promoted the rally, saying that whales are rotating money back into well-known community coins they want to buy and hold for the long haul. 

Token Distribution

TROLL token distribution is rather concentrated, with the top 10 wallets holding 24.83% of supply, wallets 11–20 holding 8.15%, and wallets 21–40 holding 9.66%. This means the top 40 holders have about 42.6% of the token, with the remainder 57.36% held by 53,900 people.

Memecoins have long been a popular target for rug pullers, in which developers promote a token, draw liquidity, and then drain or sell their holdings, leaving regular traders with worthless bags. The strategy has been repeated multiple times throughout Solana, Ethereum (ETH), and BNB Chain (BNB), with anonymous teams dissolving overnight and insiders covertly unloading significant allocations into rallies. 

Read also: Tether's Biggest Exchange Outflow In 3 Months Could Hint At Bitcoin Bounce: Santiment

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