Solana's third-ranked on-chain traded Meme coin HNUT has skyrocketed over 700%, with multiple monitoring services warning of possible RUG risk.

BlockBeats News, December 30th, according to GMGN monitoring, the Solana-based Meme coin HNUT experienced a sharp price fluctuation today, with a 703% increase in the past 24 hours, currently trading at $0.055, with a market capitalization of around $55.03 million, ranking 11th by market cap and third on the 24-hour trading volume list. The token's trading volume in the past 24 hours is about $5.5 million, with the number of holding addresses surpassing 10,000. Monitoring shows that there are 144 related whale addresses and 845 wallets performing batch transactions using MEV.

HNUT originated from a fun image and text about "Holly The Squirrel" on social media. However, several on-chain monitoring platforms, including Crypto Scope, have pointed out that its liquidity activity and on-chain data patterns are abnormal, indicating the presence of RUG risk, reminding investors to stay vigilant.

BlockBeats reminds users that Meme coins are highly volatile, relying heavily on market sentiment and hype, with no actual value or use case, so investors should be aware of the risks.