Caution on Elon Coin: High Risk Due to Low Liquidity and Centralization

Elon Coin has recently been launched with a market capitalization of approximately $295 and a liquidity of about $29.47, which makes it highly susceptible to large price swings due to very low liquidity. The token price stands at roughly $0.00002947. Security features show mutable metadata, which presents risks, and the creator has transferred 95% of the supply to different wallets, raising concerns about centralization and potential rug risks. Top holders hold nearly 20% combined, which might give them significant influence over the token.