Solana Memecoin Aura Rallies Amidst Rug Pull Concerns

A Solana-based memecoin, Aura (AURA), experienced a remarkable surge in market capitalization within just four hours, jumping from $1 million to $50 million. This rapid rise has raised red flags as crypto scam tracker CoinGecko flagged it as a potential rug pull. 400% in a few hours on June 11th propelled AURA’s price from $0.001 to a peak of $0.005 before market cap shot up to $41.6 million. Trading volume exploded, surpassing 115,000%, indicating unusual activity.