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Is Sheepcoin a Scam?

Early-stage security check — honeypot & rug-pull analysis

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Sheepcoin SHEEP
Dz2iVS…pump
Solana Not verifiedLast checked 3d ago 1 audit on record New Launch · 3d old
DexScreener ↗
How is this score calculated? → Critical Risk
Executive SummaryAI Copilot

This audit of the Sheepcoin (Sheep) SPL Token Mint reveals critical risks primarily due to its association with a creator history of rugged tokens, as flagged by a third-party risk registry. Additionally, the DEX pair is very new, having been created only 3 days ago, which limits the track record for assessing market behavior. Technical configurations, such as revoked mint and freeze authorities, are robust, but these are overshadowed by the external risk signals. Holder distribution data was unavailable from chain-native RPC.

1 Critical1 Medium
! Early-stage analysis. This token has limited on-chain history (3d old). New tokens carry elevated risk — data may change rapidly. Always verify independently before investing.
Volume 24h
$21.5K
Liquidity
$37.9K
Price
$0.00008848
Token Age
3d
Top 10 Holders
44.9%

Security Findings

1 Crit1 Med
Critical

Flagged High-Risk by Third-Party Registry

C-01An independent third-party risk registry classifies this token as high-risk based on its own dataset (developer history, LP movements). Specifically, the creator has a history of rugged tokens.
IssueAn independent third-party risk registry classifies this token as high-risk based on its own dataset (developer history, LP movements). Specifically, the creator has a history of rugged tokens.
FixDo not interact with this token.
StatusUnresolved
Medium

Very New Pair

M-01The DEX pair was created 3 days ago. This is an insufficient track record to assess team or holder behaviour.
IssueThe DEX pair was created 3 days ago. This is an insufficient track record to assess team or holder behaviour.
FixExercise extreme caution. Monitor the token's performance, liquidity, and community activity for a longer period before making significant investments.
StatusUnresolved

Category Ratings

TechnicalMedium4/10

The token is an SPL Token-2022 mint with a supply of 972,843,911.345005 tokens across 6 decimals. Both the Mint Authority and Freeze Authority are revoked, preventing further token issuance or freezing of holder accounts (7.3 Access Control). No Transfer Hook is active, and the Default Account State is not frozen. The token is configured with immutable balances and metadata, enhancing its technical security posture (7.2 Code Security).

GovernanceHigh1/10

The token's DEX pair is very new, established only 3 days ago, which provides an insufficient track record for market stability assessment (7.4 Economic). Total DEX liquidity is $37,025, which is low but not critically so. The 24-hour volume is $206,043, resulting in a Volume/Liquidity Ratio of 5.56. Holder concentration is moderate, with the top 10 accounts holding 29.84% of the supply.

UpgradesMedium4/10

The token's core authorities, Mint and Freeze, are permanently revoked, eliminating the risk of unauthorized supply changes or account freezes (7.7 Upgrades). It utilizes the Token-2022 program but does not implement any upgradable extensions like transfer hook upgradability or transfer fee upgradability. Metadata is also immutable, ensuring that the token's name, symbol, or image cannot be altered post-launch.

Security Checklist

1/4 checks passed
Contract VerifiedFail
No Mint Function?
Liquidity LockedFail
Not a ProxyPass

Liquidity Depth

$37.9K

The risk score reads depth across every pair. The volume figure and the volume-to-liquidity ratio elsewhere on this page describe only the pair this audit analysed, so the two are not directly comparable.

What Raised This Score

9 factors
  • Ownership status UNKNOWN (owner could not be resolved)
  • Mint capability UNKNOWN (implementation ABI unreadable)
  • Contract source NOT verified
  • Top-10 concentration > 30% (44.9% total → 44.9% effective; 44.9% in EOAs, 0.0% in contracts — moderate)
  • Liquidity NOT locked (owner can withdraw — rug-pull risk)
  • Liquidity < $50k ($37,941 across 1 pairs — thin market)
  • Token age < 7 days (early, volatile)
  • 1 Critical finding(s) from audit
  • 1 Medium finding(s) from audit

Each factor is an on-chain fact recorded at the time of this analysis. The score is computed from them by a deterministic function, so the same contract returns the same score for anyone who runs the audit. How scores are computed

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