Another new project has been added to the projects that earned million dollars in a short time through the tokens issued on the Solana network. The people who launched the project called Minette increased their investments, which started with 3.89 (about $600), to $2.5 million.

They made purchases in the block where liquidity was added

After withdrawing 3.89 SOL tokens from the Binance exchange, people who bought 2.4 billion Minette tokens with 2.89 of it made their purchases in the block where the developer added liquidity. The project team, which sold 1 billion of the Minette tokens they bought for 999 SOL when the price rise came, earned $153 thousand here.

1.42 billion Minette tokens are still in the hands of the developer team. In other words, the $2.5 million token is still unprofitable.

LP tokens were not burned

As it is known, in projects, LP (liquidity provider) tokens added to the pools from the beginning are usually burned by the team after the new liquidity is provided. Here, it is seen that these tokens are not burned despite a certain liquidity.

This also creates a “rug pull” risk in the project. It is also obvious that the team expects the price of the token to rise further. This may be why a large portion of tokens have not been sold. When the price rises, it is likely that the team will profit by selling in large chunks, and those who bought at the high level will be at a great loss.