The altcoin Aura ($AURA) posted an explosive rally on June 11, soaring from obscurity to a market cap of over $41 million in less than a day.
The price skyrocketed more than 6,000%, jumping from under $0.001 to over $0.05, before showing signs of volatility.
The sudden surge raised eyebrows across crypto circles, with independent analyst David Crypto Scam Hunter issuing a high-risk “Level 3 – Expert Scam” alert.
According to his review, the token had previously crashed from a $70 million market cap to just $500,000 and had remained dormant for over a year.
No News, No Utility, No Explanation
Despite the price action, there were no announcements from the Aura team, no new listings, and no partnerships to justify the pump. The token, originally created in May 2024, offers no real utility and lacks active community development. Analysts suspect coordinated manipulation rather than organic demand.
On-chain data supports this skepticism. Buy pressure surged suddenly at 6 PM UTC, with massive buy orders flooding in. However, the wallets behind these orders offer no identifiable pattern—leading many to believe this could be a setup for another rug pull.
Wallet Activity Raises More Red Flags
A deeper dive into wallet distribution reveals that many of the top holders never purchased tokens at all. Instead, they received large amounts via internal transfers, suggesting pre-allocation or insider bundling. Several top wallets still hold massive quantities of Aura and have shown minimal sell activity—possibly waiting for liquidity to peak.
Some of these wallets have held tokens since the original launch over a year ago, suggesting a long dormancy period before orchestrating this sudden rally.
Pump-and-Dump or Something More?
The nature of this pump has sparked heated debate. Is this a textbook scam targeting short-term traders? Or a clever play by insiders trying to revive a dead asset?
While retail traders poured in after the price spike, analysts warn the project shows all signs of a setup: recycled branding, unexplained volume spikes, inactive socials, and opaque wallet flows.
Final Warning: High Risk Ahead
With no fundamental developments and multiple red flags around token distribution and transaction timing, traders are being urged to approach $AURA with extreme caution. While some early buyers may have seen eye-popping gains, the setup looks primed for a classic rug pull.
In crypto, not every pump leads to profit. Sometimes, it’s the setup before the trap.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/altcoin-surges-over-6000-in-24-hours-scam-or-speculation/