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!
Shame on all the writers like coindesk that put this scammy shit on their front page!
Maybe BONK is shit, but after the appearance of this shitcoin the whole market came to life. Remember how the same stories were with doge or shiba. There are a lot of coincidences in cryptocurrency. Maybe BONK was the forerunner of the altseason? It's probably foolish to look for coincidences in this, but I think that BONK will still make itself known. If you look the list of exchanges, where this coin is traded, it is quite impressive. If leading exchanges will be added to it, the price will fly high again.