Solana-Based AURA Token Soars 3,500% in 24 Hours

Aura (AURA), a mostly overlooked Solana-based token, has stunned the crypto market with a jaw-dropping rally, skyrocketing over 3,500% in just 24 hours. The token’s price leapt from a mere $0.001 to $0.037, sending its market cap soaring to $34.4 million. Trading volume also exploded past $38 million, sparking major excitement among retail traders. 

Though launched in May 2024 with a previous peak of $78 million, AURA had nearly disappeared from the scene, falling to just $600K before this unexpected comeback, possibly fueled by a wave of coordinated buys. While the surge has given a boost to millions of investors to try new coins, it is also seen as a risky trap by many in the community. 

Let’s see what’s driving this insane surge!

Whales Cash In as Frenzy Builds

Blockchain data from Lookonchain revealed that some investors made huge profits. One wallet, for example, turned a previous $24,000 investment into $128,000, bagging a cool $104,000 in profit after holding through a previous crash. Another trader claimed an unrealized gain nearing $700,000. These massive gains have amplified the buzz, but analysts aren’t celebrating just yet.

While the price action appears bullish, experts and crypto experts are urging extreme caution. According to David, a prominent on-chain scam tracker, AURA exhibits multiple signs of a potential rug pull. He flagged the token as a “Level 3, Expert SCAM,” pointing to its unclear utility, suspicious distribution, and the timing of the pump.

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David noted that AURA was only created in May 2024, briefly hit a $70 million market cap, then collapsed before its latest moonshot. He highlighted that top holders never bought their tokens but received them through wallet transfers, hinting at possible manipulation or coordinated efforts to pump and dump.

Lack of Fundamentals Raises Serious Doubts

No major partnerships, roadmap updates, or protocol launches have been announced to justify the sudden rally. The surge in activity, particularly around 6 PM UTC on June 10, appears disconnected from any legitimate news, prompting further suspicion.

While some traders are celebrating overnight riches, analysts are urging the community not to get swept up in the hype. With no clear fundamentals and a murky token history, Aura’s explosive rise could end in disaster, a sobering reminder of the risks in low-cap, unvetted tokens.

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