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risky
MITH

New Solana token 'Michael' shows extreme early concentration and rug risk

I see a freshly launched Solana token called Michael trading at $0.0001076 with an immediate all-time high and just 13 minutes since mint. Market cap is about $108K, liquidity reported as $36.7K (burned), and there are 829 holders so far.

Top 10 holders control ~32% of supply and the token is extremely new and thinly distributed. Although the contract is renounced and mint/freezable functions are off, the combination of tiny age, concentrated ownership, and low market cap makes this a high-risk, speculative listing.

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Analysis

The token is minutes old with low market cap and significant holder concentration. Renounced ownership and disabled mint/freezable flags reduce some central control risk, but high top-holder share and...

Recommendation

I would avoid buying unless you are a highly risk-tolerant trader prepared to lose your entire position; if you trade it, use a very small position, set tight sell rules, and only consider after clear...

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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