New 'Michael' Solana Token Pumps — High Rug Risk
I'm seeing the newly launched token Michael on Solana spike to $0.0001076 with a tiny market cap (~$108K), only 829 holders, and heavy short-term volume. The contract is renounced and mint/freezable are off, but top 10 wallets hold ~32% and liquidity is modest (~$36.7K).
Those are classic signs of a microcap pump: rapid volume, concentrated holders, and extreme price volatility minutes after launch. I view this as highly speculative and prone to a sharp reversal or rug risk.
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