Published Sep 9, 2026, 5:14 PM ET · Updated 2 months ago · 1 source
Backpack token is a risky, narrative-less follow trade with concentrated supply
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Original Report
The Backpack token is a high-risk, narrative-less follow trade, with a dev who has previously launched three dead coins, 46 bundler wallets, and top-10 holders controlling 23.84%, so it should be treated cautiously and is not a buy signal.