New Solana Token $Things Listing Sparks Caution

The recent listing of $Things on the Solana blockchain is a new development worth noting. With a market cap of approximately $89,470 and a current price of $0.0000895, the token has 609 holders as of now. The start date for trading was June 2, 2025. On-chain data shows no recent smart money trades in the last 15 minutes, which indicates limited immediate market activity. Audit checks reveal the token is not a honeypot or blacklisted, but it does have a burn pool, which could imply some token deflation mechanisms are in play. The developer's wallet currently holds no SOL, and the top 10 holders control about 44% of the tokens, indicating a high concentration of ownership, which may pose centralization risk. The absence of links to social media platforms like Twitter, website, and Telegram suggests limited community engagement or official communication channels. Given the high risk warning and the limited data available, this token appears to be in an early stage with low liquidity and activity, which could lead to significant volatility. Investors should exercise caution, perform thorough due diligence, and avoid impulsive decisions, especially in the speculative environment of new crypto listings.