According to CoinMeta, as indicated by the on-chain analysis platform Bubblemaps, approximately 80 wallets were funded by multiple centralized exchanges between July 20th and 26th and crossed chains to enter Robinhood. During the project's launch, they purchased about 54% of Pipedog. Bubblemaps claims that these addresses are controlled by the same entity, which has sold about one million US dollars worth of tokens and currently still controls a position worth approximately sixteen million US dollars.