MoonX Releases New Solana Token REWKANG Amid Caution

Monitoring MoonX's new listing of REWKANG on Solana, the token shows a minuscule market cap of $44,700 with a very low price point of $0.0000447. With 202 holders and a starting date of June 5, 2025, the market activity appears sluggish with no recent smart money investments. The project's audit indicates no honeypot security issues but raises concerns with a high top holder concentration of nearly 64%, suggesting potential centralization. The developer’s wallet holds a modest amount of 0.11 SOL, and the token is associated with a website but lacks active social media presence. Risks are notably high, underscoring the importance of thorough due diligence, particularly given the typical vulnerabilities in DeFi tokens such as rug pulls. Overall, based on these indicators, cautious engagement and detailed research are recommended.