New Solana Token $VYBE Listed with Centralization Risks

The recent listing of $VYBE on Solana with a market cap of $42,110 and a price of $0.0000421 appears to be an entry point marked by cautious observation. The total number of holders is limited to 160, and the initial on-chain activity shows no recent smart money trades. An audit indicates that over half of the tokens are concentrated in the top 10 addresses, which raises some concern, although it's not considered a honeypot scam. Developer wallet holds 2.06 SOL, and the top 10 holders control 53.10% of the supply, signifying centralization risk. Given the current data, the project seems to be at an early stage with low trading activity, and the high ownership concentration warrants skepticism. Considering the general risks associated with new crypto tokens, especially on a platform like Solana, investors should conduct thorough due diligence. Lack of liquidity, low on-chain activity, and the potential for manipulation make this a risky venture. Monitoring for any updates from the project and community engagement is advisable before considering an investment.