The bundle hidden in a pool
pump.fun now lets a new coin trade against another coin instead of SOL. That opens a way to hold a big slice of a coin without ever appearing in its holder list: launch a second coin paired to it and buy the second coin. Every buy parks the first coin inside the second coin's pool, which trading apps label "liquidity pool". We verified it on a live example: one wallet controls about 5.8% of a coin it never held. Here is how it works, the transactions behind it, and how to check any coin for it.
The addresses
Coin being hidden
$FRONT
EzzpSjMdaaZwoKej7VhSNWk49ATvhuBvEQfc1Cgcpumppump.fun coin; about $5K market cap when we checked
Run the bundle check →Paired coin
$BACK
2npzSaGz3szHzkq5PgexWSUjQWtKvyrpkn4u1eXspumppump.fun coin created 2026-11-11 01:38:58 UTC, paired to $FRONT instead of SOL
Run the bundle check →$BACK's pool
5ei9uTQGV9QK…
5ei9uTQGV9QKwn1gxrYrUru5MAykkGiLsE5aoQGmaCmS$BACK's pump.fun bonding curve. Holds 10.26% of $FRONT's supply
Biggest $BACK holder
6cJbYnBJ8CQR…
6cJbYnBJ8CQRvWaD5F7bTq1uBqVvC3whzzhbHyLDreSKHolds 16.61% of $BACK, about 56% of all $BACK bought; never held $FRONT directly
Open the cluster report →$BACK creator
7z9Jzf2bDThd…
7z9Jzf2bDThdU5WSsuFXK497CUUt44KEpopSPz1AhJ7SCreated $BACK and made its first buy, paying in $FRONT
Open the cluster report →What the data shows
A coin can now be paired to another coin
Until recently every pump.fun coin traded against SOL. Now a creator can pick another coin as the pair. $BACK was created this way: its pool trades $BACK against $FRONT. Anyone who buys $BACK with SOL is routed SOL to $FRONT to $BACK in one transaction.
The $FRONT ends up inside $BACK's pool
Because the route goes through $FRONT, every $BACK buy takes $FRONT out of $FRONT's own pool and puts it into $BACK's pool. The buyer never holds any $FRONT. When we checked, $BACK's pool held 10.26% of all $FRONT. Trading apps show that account as a "liquidity pool" or "LP", or leave pools out of the holder list entirely.
Whoever holds $BACK holds that $FRONT
The $FRONT in $BACK's pool is paid for by $BACK buyers, and selling $BACK takes it back out. So $BACK holders own that $FRONT through the pool, in proportion to how much of the bought $BACK they hold. 29.4% of $BACK had been bought; one wallet holds 16.61% of supply, about 56% of what was bought. That gives it about 5.8% of $FRONT, while it appears nowhere in $FRONT's holders. The trader who published this method said he held "6% in front" without it showing up; our number matches.
The receipt: 1.5 SOL in, $FRONT moved pool to pool
In that wallet's biggest buy (2026-11-11 01:52:38 UTC) it spent 1.497 SOL and received 16.6% of $BACK. In the same transaction 50.2 million $FRONT moved straight from $FRONT's own curve into $BACK's pool. The wallet's own $FRONT balance never changed.
A hot coin we checked was not using it
After the method went public we checked $mihao, which had pumped to about $14M. 407 coins have been paired to it (people launch spin-offs on hot coins), but together their pools hold only about 1.8% of $mihao, and the largest holds 0.73%. No hidden bundle there. Its launch shows other signs: our launch check found the creator bought 15.38% inside the creation transaction.
How to spot it yourself
Open a coin's holder list and look at every "liquidity pool" or "LP" holder that is not the coin's own pool. Open it on Solscan: if it also holds another memecoin, it is that coin's pool, and its holders own that slice. Or paste the coin into the unbundle Bundle Check: if another coin's pool holds at least 1% of it, a red "Supply hidden in another coin's pool" panel lists the pool and its biggest holders.
The pairing
Read from mainnet on 2026-11-11; every signature is finalized.
Who holds $FRONT, really
Biggest $FRONT holders on 2026-11-11, with what each account actually is.
Limitations
- •Shares through a pool are estimates from balances at the time we checked. They change with every trade, and pool fees make them approximate.
- •This example is a small demonstration coin, launched to show the method. We have not yet seen it used at scale.
- •Holding a paired coin is not wrongdoing by itself. The risk is that a big position does not show up where buyers look.
- •We check pools that hold at least 1% of a coin, on pump.fun curves and PumpSwap pools. Other venues and smaller slices are not covered yet.
- •This shows what wallets did on-chain. It does not establish who controls them.
Holding a coin, or copying a wallet? Check it now.
Free · works on Solana and Robinhood Chain. Paste a coin to see if its launch was bundled, or a wallet to see its linked wallets.
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Check it yourself
Open the two transactions above and compare the $FRONT balance changes: $FRONT's curve goes down, $BACK's pool goes up, the buyer's $FRONT stays at zero. Open $BACK's pool on Solscan to see both coins in it. Paste $FRONT into the unbundle Bundle Check to see the same numbers. If something does not match the chain, tell us and we will correct it.