In the fleeting world of memecoins, steep price surges frequently raise suspicions—especially when they seem to be controlled rather than natural.
The recent price activity involving $STUPID, a memecoin that has attracted speculation both for its name and for its recent unusual market behavior, is the latest instance of how on-chain analytics can reveal what might be rather obvious attempts to get retail investors to pay attention.
Even though pinpointing the people or organizations responsible for a memecoin pump isn’t always straightforward, transactions on the blockchain can provide some visibility into the sorts of actions that might lead to one. And when it comes to $STUPID, those actions—and the people allegedly behind them—are very much out in the open.
Waves of Wallets Fuel the Spike
Around six hours back, a clear pattern began to appear on the blockchain. Not less than 10 wallets bought $STUPID tokens all at once, together contributing some $34,100 in total to the token’s market cap. Now, a single big buyer isn’t necessarily a cause for concern. Even a group of smaller, synchronized buyers could theoretically be going in for the token for legitimate reasons. But hey, this event was suspicious enough that just a day prior, my colleague had tagged it as a potential rug pull.
In unison, these three closely spaced purchases added over $112,000 to the total. No one could mistake their significance. The buys were neither random nor kind of evenly dispersed over time. They came in waves, tightly synchronized and amply reinforcing, and they drove the share price higher.
Such activities frequently point to a well-thought-out scheme to sway the market. They give the impression that there’s a substantial and surging demand for certain stocks when just a few folks are actually buying them en masse. That’s the buyers’ endgame, anyway: Make it seem like there’s no choice but to buy now lest one miss out on something big, and in the process, inflate prices as they go.
It’s not always easy to pinpoint the exact wallets behind a memecoin pump but onchain data often reveals the pattern.
In the case of $STUPID, several wallets coordinated buys that pushed the price up sharply.
6 hours ago, at least 10 wallets bought into $STUPID at the same… pic.twitter.com/IxGXsaNR83
— Stalkchain (@StalkHQ) June 25, 2025
Pump Tactics or Organic Interest?
Even if coordinated wallet activity isn’t conclusive evidence of bad behavior, it certainly puts my hackles up and raises serious questions. In the realm of traditional finance, just this sort of activity—with this sort of timing and these sorts of participants—would be very closely scrutinized under regulations designed to prevent market manipulation. In crypto, however, the rules are murkier. We’re in the Wild West world of memecoins.
The tactics used here are by now well known: enter with a bunch of wallets, push the chart up quickly, and then let momentum traders pile in. When the price is inflated enough, the early entrants to this inflation leave quietly, making them the only ones who have exited upon the deflation of this inflation.
The $STUPID case is notable not only for the size of the buys but also for their precision. The waves came too closely together to be coincidental, and it’s highly unlikely that dozens of unrelated individual investors would just happen to buy $STUPID at the exact same time without some kind of external coordination.
Even so, the token’s official channels have not communicated anything about the matter. No guidance has been given, and the crew behind $STUPID—if they really are a crew—has made no noise about the recent happenings. Since we have no transparency to lean on, we can only guess why this event occurred, and a lot of us have, with the most popular angle being this was a price pump.
On-Chain Analysis as a Watchdog Tool
Incidents like this highlight on-chain analysis as a vital instrument for traders and researchers. They may not know who is behind the wallets, but they surely must pay attention to what is going on with them. The $STUPID smart contract, for instance, was clearly designed to create a lot of activity with the help of some bots. If you were checking the on-chain metrics for $STUPID at this time, you could see just how much these things were opera
Crypto’s decentralization offers a certain amount of transparency—if you want to see it, that is. But the good kind of seeing requires more than just looking. It requires tools and some level of virtual First Amendment rights that these tools enjoy. The use of these tools can also require some level of virtual decency that not all characters in the crypto space exhibit. But for traders navigating memecoins—a.k.a. everything in the crypto space that isn’t Bitcoin and Ethereum—using these tools seems essential to avoiding nasty surprises.
While not new, the price surge for $STUPID memecoin clearly shows how coordinated group activity can create the illusion of real buying and propel a cryptocurrency’s price upward. And while this isn’t an uncommon practice in crypto, $STUPID serves as a useful textbook case for the memecoin phenomenon.
Conclusion
The recent jump in $STUPID’s price seems to have been driven by a small number of coordinated wallets. These wallets are doing what old-school stock manipulators used to do before the SEC cracked down on them: inflating the apparent value of an investment to entice others to buy in and drive the price up even more. NFTs can be traded for real money, and they’re definitely real in the sense that the buyers can’t get their virtual hands back on the money they spent.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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