High-Risk Flamengo Fan Token (MENGO) Raises Concerns

The Flamengo Fan Token (MENGO) currently has a market capitalization of approximately $2,940 with a low liquidity of around $294, reflecting a precarious position. The token's price stands at a negligible $0.000002941, indicating an extremely low value that might be prone to manipulation or volatility. Security analysis points out that its metadata is mutable, raising concerns about potential changes and instability, while the lack of mint and freeze authorities suggests limited control over token distribution and management. Notably, top holders are heavily concentrated, with the largest holder controlling nearly 5% of the supply, and the creator moving 95% of the tokens to other wallets, which raises red flags about centralization and possible rug-pulling risks. The overall score of 'Bad' (3) confirms underwhelming fundamentals and heightened risk. Given these factors, the token exhibits signs of being a high-risk, speculative asset with questionable trustworthiness and liquidity issues, making it unsuitable for cautious investors or long-term hold.