The Black Bull, four months on: the wallet linked to Ansem gave away 74 million tokens and still holds 58%

A memecoin named after a famous trader started life with a giant gift. Two thirds of its coins went to a wallet linked to him. Four months later that wallet and a second one still hold most of them. Neither has sold any on a Solana exchange. But the first wallet has given away about 74 million tokens. The nine wallets that got the first batch sold most of it within days.

The token is $ANSEM, also called The Black Bull. It launched on June 16, 2026, on pump.fun, the Solana site where anyone can spin up a memecoin in one click. Ansem is a well-known trader on crypto Twitter, and he claimed the coin in public eleven days later. Our June article covered the first split. Since then came the airdrops, the run, the bleed and a crowd left holding the bag.

01 · The launch minuteThe dev buys the whole curve and gifts 65%

Pump.fun sells the first 79% of every new token from a built-in price ladder called a bonding curve. When the ladder sells out, the token graduates to an open trading pool on PumpSwap. $ANSEM sold out in its first second, because the dev wallet, yHCxHB…cx6PRe, created the token and bought the whole ladder in the same transaction.

Thirty-seven seconds later the dev wallet sent 650 million tokens to GV6UUm…xVdC52, the wallet linked to Ansem. Then it dumped the rest in seven trades over nine seconds. The dev walked away with a profit of a few thousand dollars, close to what early press reports said. The gift wallet had never traded on a Solana exchange before.

02 · The quiet startEleven days in the trenches

For eleven days $ANSEM was one more coin in the pump.fun trenches. It traded every day, but small. Volume stayed under a million dollars per day and the price stayed under $0.001. A few days still pulled in crowds of more than ten thousand traders.

03 · The claim and the airdropsWhere the 650 million went

On June 27 Ansem claimed the token in public. The chart woke up within the hour. Daily volume jumped more than a thousandfold in two days, and the daily count of traders went from hundreds to tens of thousands.

The airdrops came straight from the gift wallet. The next morning, twelve hours after the claim, it sent nearly 50 million tokens to nine addresses. A day later it sent about 25,000 tokens each to 695 others, the public drop. Over the summer it paid several hundred more. At the end of July it moved most of what was left to a second wallet, 7oU9nR…T7MsDM, which has not moved a token since.

04 · The first ninePaid a day early, sold on day one

The nine wallets that got the first batch did not wait. On June 28 alone they sold $1.2 million of tokens into the pools, while the price was still climbing. One of them sold its whole 8 million in less than a minute, two and a half hours after the tokens landed. By mid-October the nine had cashed out $2.6 million, and only one of them still holds a real bag.

05 · The run and the bleedThree weeks up, three months down

The price kept running for another week. It hit its all-time high in the night of July 6, when the market cap passed $400 million. That first week of July alone added well over $100 million to the value of the Ansem-linked bag, without a single token moving.

Then came the bleed. The price lost 60% by early August. It doubled again at the end of August, when one buyer spent millions in five days, and gave it all back within ten days. By mid-October it was 75% below the top, and the daily crowd had shrunk to about 12% of its July peak.

06 · The ledgerWho made money

For every trader we added up what they paid and what they got back, then valued any unsold bag at the mid-October price. A trader who moved tokens to their own cold wallet counts as one owner. We set aside wallets whose trades we cannot see on-chain: the ones that sent tokens to MEXC or HyperUnit, or moved large amounts in ways we cannot follow. They did a fifth of all buying.

That leaves 554,160 trader accounts. Together they are up about $48 million: $22 million already cashed out and $26 million still sitting in bags. But fewer than half of them are green. Only 47% are in profit, and the top 100 hold 59% of the gain.

Timing decided almost everything. Traders who were in before the claim, or who caught the first four days after it, took the cash. Every group that arrived later has taken out less than it put in, and is at best break-even even with its bags counted at today's price.

07 · The crowdTourists, bots and failed swaps

The crowd came and went fast. 23% of all traders made one swap and never came back. About 500 bot wallets made a thousand swaps or more each and drove 30% of the volume. On the busiest day, failed swaps outnumbered landed ones two to one, the usual sign of bots fighting over fresh pools. Half of all priced swaps were under $10.

Liquidity providers, the accounts that fund the pools, sit outside the crowd numbers. Their fee income does not show up in trades. One of them looked like a big winner that never bought a token. In fact it took about 11% of the supply out of the main pool in thousands of small moves, and put nearly all of it back.

08 · The whalesOne August ape, and a few slow buyers

The biggest single buyer spent more than $7 million over five days at the end of August, at about 31 cents a token. It moved the bag to a cold wallet, so we count the two as one owner, now down almost $5 million. Four other wallets each bought several million dollars of tokens over months, in thousands of small swaps, the pattern of a buy bot. All four buying wallets are empty today. They moved the tokens elsewhere, so the chain cannot tell us whether the owners still hold them.

09 · The 58% questionOne holder is the market

Two wallets linked to Ansem hold 58% of the supply. We found no lock or vesting on either one. The link to Ansem rests on what the wallets did, since Bitquery's labels do not name them: the gift seconds after launch, the airdrops that began the morning after his public claim, and the move to a second wallet.

That makes the liquidity the real risk. The two main pools hold about $1.2 million of SOL. If the Ansem-linked wallets sold even 1% of their tokens into the larger pool, the price there would drop by about 62%. A real exit would wipe out the bid.

10 · The copycats48,565 tokens with the same name

The name spawned 48,565 other tokens since mid-June. Together they did almost four times as many swaps as the original, and 98% of them stopped trading within a week. $ANSEM itself is a rare survivor. Of the tokens launched on pump.fun in the same two weeks, only 91 traded on a hundred different days, and $ANSEM is the only one with more than a million swaps.

11 · Close of ledgerWhat four months produced

A $6,275 dev buy produced a token that traded $1.8 billion. The wallet linked to Ansem never paid for its tokens and never sold them on a Solana exchange, yet it decided who got paid first. The first nine wallets it paid cashed out millions. Every group of traders that arrived after June has taken out less cash than it put in.

You can check any of this yourself. Pull holder balances with the token holder API, trades with the Solana DEX API, or the full history as files from the Bitquery Data Store. For launch-level tricks, read our snipers-and-bundles piece and where airdropped tokens go.

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