Looking at $STEVE's on-chain distribution, the data reveals some interesting patterns worth noting. While devsnightmare analysis isn't available for this token, a few key players—Arez and Xander—hold notably large positions.

The bubblemap shows no significant cluster concentration, which typically signals a more distributed holder base. However, the CEX landscape tells a different story. Exchange-funded wallets dominate the flow, with 56.2% sitting in major exchange clusters. Breaking it down: Binance accounts for 14.1%, Coinbase 14.2%, MEXC 7.2%, and Change Now 10%. This concentration suggests active trading activity and potential liquidity providers funneling capital through these platforms.

The distribution pattern raises questions about whether we're seeing organic accumulation or coordinated fund movements. Either way, tracking these wallet flows remains crucial for understanding the token's actual market dynamics.