High-Risk SPX6900 (Wormhole) Token Listed on Raydium with Limited Liquidity and Ownership Concerns

SPX6900 (Wormhole) is currently listed on Raydium with a very low price of $0.00000005 and a market cap of only $475. The token's total supply is 10 billion, with almost 5% held by a few large holders. The liquidity stands at just $48, indicating a high-risk profile, especially since 100% of the token supply was transferred by the deployer, and the metadata is mutable, which could allow changes after launch. Several risk factors, including the token's high risk rating, minimal liquidity, and potential for rug pulls, make this a speculative and dangerous investment, especially given the presence of automated sniping bots which can exploit such tokens for quick gains. Caution is strongly advised in engaging with this project, as it exhibits significant red flags typical of pump-and-dump schemes or scam tokens.