YEREVAN (CoinChapter.com) — MINU coin, a mining project on Binance Smart Chain (BSC), got a lot of attention on social media recently after its token launched on Jan. 17. As of Jan. 22, the MINU/USDT exchange rate stood at $0.00000009053 in the Asian-Pacific session, after a 25% jump in 24 hours, according to crypto tracker CoinMarketCap.
MINU Coin Price Is Not Clear
Interestingly, another tracker, CoinStats, shows a different result. According to the platform, the MINU token price reached $0.0000001386 after an over 65% daily increase. DEXTools tracker agreed, backing the results.
Possibly, the heightened attention to the coin prompted the price increase.
Meanwhile, different statistics aside, several red flags could dampen the MINU coin’s further rise. Here is a more detailed look at the altcoin.
Red Flags Associated With The Project
MINU coin is still very ‘young’; however, over 90% of its trading takes place on one platform – P2B. Pancakeswap takes second place with nearly 6%. While such concentration of trading on one platform does not indicate a ‘scam’ protection in any way, it increases the possibility of market manipulation and the threat of possible hacks.
Furthermore, the daily trading volume exceeded the MINU token’s market cap at least three times. Again, new coins on the market are not uncommon. However, along with high interest, the situation indicates a lack of necessary liquidity, which could influence the supply/demand dynamic.
Additionally, the MINU coin has passed an audit from Cyberscope, which gave the project an overall rating of 68 out of 100, a “neutral” score.
Another warning for potential investors is that several MINU coins are out there, not just the one we discussed in this review.
