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.
Yeah it definitely has all the makings of a pump and dump. 1000% up now. Seriously? We are supposed to believe that bonk, with a market cap of under 30 mill. (which still has not changed) is the next big thing? Oh please. Its obvious that the developers poured that money in, themselves. They are waiting patiently until enough people buy their shitcoin at which point, they will screw everyone over.
Not trustworthy at all!