A city official recently launched a token on Solana that experienced extreme volatility in its early trading. The asset spiked to a $500M valuation within minutes before plummeting to around $90M—a dramatic collapse that highlighted the high-risk nature of speculative token launches. This kind of rapid price movement underscores broader concerns about market manipulation and the challenges facing newer projects on Solana. The incident serves as a reminder of why due diligence and caution remain essential in crypto markets, especially when high-profile figures enter the space.