The Story Behind The Black Bull (ANSEM): The Solana Memecoin That Revived Trenches

Over the weekend, The Black Bull ($ANSEM), a Solana-based memecoin, emerged as one of the most talked-about crypto projects. The reason is not far-fetched. Zion Thomas (popularly known as Ansem), the key opinion leader (KOL) tied to the project, hinted that millions of $ANSEM tokens will be airdropped to users.

The effect? Thousands of wallets have been created over the past few days as many seek to position themselves in line for rewards. The cryptocurrency’s market stats have also soared, as its market capitalization increased to over $109 million within hours.

But what is this project all about? And what should potential investors be wary of regarding the $ANSEM token? This article highlights these.

What is the Black Bull (ANSEM)?

The Black Bull is a community takeover (CTO) project created on June 16, 2026, using the Solana-based token generator, Pump.fun.

The project’s popularity comes from its ties with Ansem, who is widely known for his support in aiding Solana’s 2024 bull run. He shilled Solana memecoins like Dogwifhat (WIF) and Bonk (BONK), helping to propel their prices to significant heights. Ansem also made headlines in December 2024 when he fought against a fellow crypto influencer, Bitboy (Ben Armstrong), for the WBC Crypto Title Belt.

Following the creation of the Black Bull project, the token’s creators sent nearly 65% of its total supply of 1 billion tokens to Ansem’s public wallets. This is not an uncommon move in the industry, as Shiba Inu creators did a similar thing by sending half its supply to Ethereum creator Vitalik Buterin. Such a move is designed to boost credibility and gain prominence within the crypto ecosystem.

Despite this move to tie itself to the crypto influencer, the Black Bull creators acknowledge on the official website that the project is unaffiliated with Ansem.

As of this writing, Ansem has yet to sell the $ANSEM tokens in his custody.

What is Driving $ANSEM’s Market Pump?

Although launched nearly two weeks ago, things started looking up for the Black Bull project when Ansem replied to a tweet on June 27.

When urged to launch his own token, Ansem stressed that he would not launch one, since “there’s enough good tokens that exist already.” Instead, he will randomly allocate some of his creator fees from his Pump.fun account to those who perform some tasks he outlined.

Ansem noted that he earned as much as $200,000 over the past week from his creator fees on Pump.fun. He revealed that he would airdrop the entire stash for the week to his followers. According to him, this would “give the trenches a stimmy [meaning stimulus] since [the market] pump refuses to.”

Although not directly connected to Ansem’s airdrop plan, the $ANSEM token soared significantly. This benefited the $ANSEM stash lying in the crypto influencer’s custody. When asked what he intends to do with the million-dollar holdings, Ansem said he would flip it, pump it, and “airdrop everything.”

He even said he has airdropped 5 million tokens already.

Aiming to earn from this stimulus, thousands have flocked to The Black Bull.

Already, $ANSEM is tradeable on crypto exchanges, such as Jupiter, Raydium, MEXC, and Aster.

The Black Bull (ANSEM): On-Chain Review

On-chain data from Solscan shows just how much attention was given to the $ANSEM token over the past few days.

The chart below shows the growth in token holders. As of June 25, approximately 1,340 accounts have joined the ecosystem to hold $ANSEM. Fast-forward to June 28, and 4,380 new accounts were created, a nod to the fact that numerous individuals are interested in Ansem’s rewards. Presently, there are a total of 25,651 $ANSEM holders.

As mentioned earlier, this massive onboarding has rubbed off on $ANSEM’s market performance. Despite being days old, its market cap soared above $100 million and now sits at $88 million. After hitting an all-time high of $0.1212, its current trading price is $0.0879.

Despite this admirable surge, investors should be cautious about the memecoin. Looking at its token distribution, we see that the top 10 accounts hold 66.44% of the total supply. From this number, Ansem holds nearly 65%, currently worth over $70 million. Such a heavy concentration of tokens tied to a singular user is not healthy for a crypto project, as a sudden sell-off can trigger a massive price downfall.

Data from DEXScreener reveals the available liquidity for the $ANSEM token, which is $1.1 million. For a project with a market cap of about $88 million, such liquidity is small. It means that if all $ANSEM holders or many of those who benefit from the crypto influencer’s airdrop decide to sell off their holdings, they would not withdraw their assets without significantly dragging down the token’s price.

Additionally, like most memecoins launched via Pump.fun, $ANSEM has no inherent utility that drives its long-term growth.

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