The crypto trading and on-chain analysis group “Evening Traders” has warned that several tokens may face serious supply-control risks following fresh on-chain checks. The traders said that heavy concentration in a few wallets, combined with specific price patterns, can create aggressive moves that hit both long and short traders.
According to the alert, the warning does not focus on a single project but on a group of tokens that share similar supply setups. The trader argued that this structure can make markets look deep and active while real liquidity stays tight. As a result, smaller traders may not see the real risk until volatility spikes.
Tokens Named and “Bear-Trap” Pattern Explained
Evening Trader Group listed tokens such as SKYAI, GENIUS, DEXE, H, M, UAI, and ZKP as assets with potential supply-control issues. The trader also flagged fan tokens LAZIO, CHZ, SANTOS, PORTO, and ALPINE, citing similar concentration concerns among top holders.
In the post, the trader described a recurring setup known as a “bear-trap” pattern. In this pattern, a small cluster of large wallets can push prices sharply in either direction and trigger liquidations of overleveraged long and short positions.
The trader said they had already seen this pattern in tokens like RIVER, COAI, MYX, PIPPIN, and RAVE, where sudden rallies were followed by steep drops.
How Supply Control and Tokenomics Raise Risks
When a large share of a token’s supply sits in a few addresses, those holders gain strong market power. Large owners can move tokens into active wallets and sell into thin order books while prices still look strong. This creates an illusion of healthy demand while the real float for regular traders stays low.
On-chain research into SIREN found that about 47% to 50% of its supply sat in one related wallet cluster, even though it was spread across many addresses. Investigators said this suggested coordinated accumulation that made the token appear more decentralized than it was. They warned that any big sell-off from this cluster could trigger sharp price drops because the real circulating supply was far lower than the headline market cap.
Tokenomics guides highlight the gap between circulating and total supply as a key risk. When only a small share of tokens circulates, future unlocks or minting can dilute holders and cap price growth. Large exchanges like Binance now add risk notices for tokens with aggressive release schedules or complex tokenomics that may hurt retail traders.
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