New Solana Token $PETPIG Launch: High Ownership Concentration Raises Risk

The recent listing of $PETPIG on the Solana blockchain presents an entry point with a very modest market capitalization of approximately $27,310 and a market price of around $0.0000273. The token currently has 151 holders and no recent smart money trades, indicating neither strong institutional interest nor large active traders at this moment. The developer's wallet holds 3.13 SOL, and the top 10 holders own 74.27% of the supply, which suggests a high concentration of ownership that can lead to volatility. Despite being a new token, it has passed a honeypot check but remains vulnerable to potential scams such as rug pulls. The lack of social media activity (Twitter verified, website active, Telegram inactive) adds to the risk profile. Overall, potential investors should be cautious and thoroughly research before engaging.