BONKKILLER, a new Solana-based memecoin has drawn the interest of numerous cryptocurrencycurrency enthusiasts with its astounding $328 trillion market capitalization.
BONKKILLER is a common fraud. The promise of large gains draws investors in, but it keeps them from selling their tokens. A “freeze authority” feature that limits token transfers and essentially locks investor funds has been introduced by the developer.
Over a thousand investors have been lured to the currency, which erroneously holds the title of greatest market cap asset, in spite of warnings and the apparent trap. Since its April 29 introduction, the memecoin has experienced trade activity of about $4.6 million in just one day.
According to SolanaFloor, BONKKILLER is not backed by large fiat resources and lacks true liquidity because token holders are unable to sell. This circumstance highlights memecoin’s artificially inflated market capitalization as misleading and unrealistic.
Trader purchases of BONKKILLER tokens persist in spite of guidance warning the cryptocurrencycurrency community about the dangers of investing in schemes of this nature. This pattern draws attention to the cryptocurrencycurrency market’s continued susceptibility to con games like rug pulls and honeypots that prey on gullible consumers.
Read also: Ethereum Gas Fees Hit Six-Month Low, Indicating Potential Altcoin Rally
