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The Risks: Legal Scrutiny: Solana faces legal challenges related to its meme coin launch platform and validator setup, with accusations of market irregularities that could negatively impact investor confidence and perception. Furthermore, manipulation is rampant; SOL is weak fundamentally, and the network is always congested. It has already reached its all-time high, and Solana could fall to $9. For now, BTC and ETH are "safe bets" with less volatility. Additionally, JP Morgan launched a token on the ETH network. There may be projects with better fundamentals, but all altcoins are bleeding money. Another example of a scam is PIPPIN on the Solana network.
tldr; A cryptocurrency trader turned an initial $180,000 investment into $3.6 million in under two months by accumulating 8.15 million Pippin (PIPPIN) tokens early. The trader used multiple small transactions to build the position when the token was at low prices. Pippin has since surged over 1,400% monthly, driven by whale investors and retail interest. However, risks remain due to high token concentration, with over 70% controlled by a single entity, potentially leading to market vulnerability if large sell-offs occur. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.