Aura (aura), a cultivation token built on the Solana blockchain (ground), has skyrocketed more than 3,500% in the last 24 hours, marking an extraordinary price wave.
This dramatic peak has enabled many investors to make significant profits. However, market analysts warn that the rally can be part of a greater rug-pull diet.
Why will the token price increase?
According to the latest data, Aura has spent a minimum of $ 0.001 to $ 0.037 at the time of the press. This marked an appreciation of 3,538% in the last day. In addition, market capitalization has increased from around $ 1.1 million to $ 34.4 million.
The volume of negotiation also climbed from 106,684.40% to $ 38 million, which indicates interest and activities of significant investors. Aura has claimed first place as the highest daily winner in Coingecko and is currently the most trendy cryptocurrency of the platform.
Lookonchain Data stressed that the Rally of aura has enabled a whale to reserve a profit of $ 104,000.
“5 months ago, Trader FVABFC spent $ 24,000 to buy 2.87 million aura, only to see it crash more than 90%. But today will have suddenly leaps 35 times. He sold all 2.87 million aura for $ 128,000, said Lookchain.
Another merchant also shared an unrealized profit of $ 698,154 on his holdings will have in a post X (formerly Twitter). However, the rally increased red flags among market observers.
“Aura, a one -year -old coin, pumped out of nowhere. Do not fall for that. They unfold the cryptography sector. Buy a high conviction with a biological table. This will not end well,” said a user.
Meanwhile, David, a user specializing in the surveillance and reporting of cryptocurrency scams, reported the aura as a “level 3 – expert scam”. According to David’s position, a lack of clear utility will be lacking.
He noted that the token was created on May 30, 2024. Its market capitalization reached more than $ 70 million when AA will have reached a summit of all time (ATH). However, it quickly fell to $ 600,000.
“It is designed for a carpet traction! They were lucky because I did not start this work at that time,” said the post.
In addition, David has raised concerns about the recent price pump. He stressed that there is a lack of clear explanation, as a partnership or a utility behind the token. He said that the chain purchase activity had increased abruptly around 6 p.m. UTC on June 10.
However, it is not clear if this increase in activity was organic or artificially motivated. In addition, the thread stressed that the food of the token is closely controlled.
David underlined that many top holders have large “packages” of tokens. In particular, these “bundles” are not long -term assets but are new.
In addition, he pointed out that many best holders have never bought the tokens. Instead, they received them by transfers or divisions from other portfolios.
This feeds more suspicion of manipulation or coordinated efforts to artificially inflate the price of the token. Thus, while the last rally led to massive gains for some, its sustainability remains a subject of debate.
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