Who is holding the 11.9% and 10.2% of the coin in the wallet? They together control around 22% of the entire coin that's pretty big.
Of course they hold a large amount. It is even bigger than 22%. This coin is a scam and anyone buying it is burning money. They even state that it has no purpose other than to hold and artificially raise it's price. Makes it no different than a ponzi scheme and it will explode like a bomb, leaving anyone invested in this burnt, once the developers dump their shitcoins.
Why should this coin raise in value? It does anything at all?
This is totally ridiculous project and the creators of this are scammers that are getting rich. All those that bought this garbage don't deserve to hold any money.