Project Risk Warning: Some new tokens on the Solana chain exhibit obvious bundling characteristics that require attention. On-chain wallet analysis reveals that the token distribution of certain projects shows a highly concentrated pattern, with over 40% of the circulating supply concentrated in related wallets, which are often linked to specific funding sources. Notably, some well-known traders are also among the early holders of these projects, further increasing the risk factors. This highly concentrated distribution method often indicates potential liquidity risks and price manipulation. Investors are advised to carefully analyze on-chain data, holdings structure, and fund flows before participating in such projects, and to be cautious of overly concentrated token distribution patterns.