LAB Token Hits $16.23 High Amid Insider Ownership Claims

LAB token climbed to an all-time high of $16.23 on June 1, pushing its year-to-date gains past 12,000% and briefly putting its market value above $6 billion before pulling back to $14.66 at 9:08 a.m. EDT.

The token rose from about $7.31 roughly 24 hours earlier, a more than 100% increase, and from $2.15 on May 1, representing a gain of over 580% since that date. The price run began accelerating around May 29 and lifted weekly gains above 250%.

Derivatives traders faced forced liquidations as the rally unfolded. Exchange data showed more than $16.5 million wiped out on short positions and roughly $2.6 million on long positions, totaling over $19 million in liquidations.

On May 14, blockchain investigator ZachXBT posted on X that roughly 95% of LAB’s supply appeared likely to be held by insiders. The investigator also flagged a multisignature wallet signer allegedly funded by an on-chain address tied to manipulation of another token, noting that the same insider reportedly received more than $12 million in that token across two centralized exchange deposit addresses. The investigator linked LAB’s founders to a prior project called ESE, which he said left some investors feeling abandoned.

Market watchers pointed to scheduled token unlocks for private and over-the-counter holders that could release additional supply into the market. In a reply on X, ZachXBT wrote: “Yes, it seems like last scam pump for LAB from MM before all of the hidden supply unlocks from OTC / private sale. Always recommended people do not touch these coins.” Another account tracking LAB posted: “Price can keep ripping on low float, but you’re trading against concentrated holders who can exit whenever. Volatility will be extreme [in] both directions.”

Analysts and traders monitoring on-chain flows said they are following token distribution, multisig signers and exchange deposits to assess how concentrated holdings and upcoming unlocks might affect supply and price volatility.