If you follow crypto news, you might be aware about solana dog shitcoin called "BONK" is up 900% the past week . If you are thinking to invest in this coin, let me share an important fact regarding this coin. The top 20 holders 50% of the coin.
You can yourself check this here
https://solscan.io/token/DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263#holdersSo, it is obvious that they will eventually dump it. Those who are investing seeing the dramtic increase in prices will loose all their investment when it dumps.
Thank you for reminding me. Many people recommend Shitcoin because the increase is enough to make many people tempted, so many people talk about the BONK coin meme. But so far I haven't been able to find the Shitcoin Whitepaper and
Coinmarketcap also doesn't provide a really understandable explanation about this meme coin which says it's only in testing and still in beta.
This means that this is still in the development stage and not the final of the entire project.
I also warn you to be careful, when the market situation is like this and the Solana network is in a bad state, what I'm afraid of is that this is a scheme project to steal your money and price pumps are made to attract many people who fall into the trap.