Hey there, blockchain enthusiasts! Today, we're looking into a token making some waves (and maybe causing some head-scratching) on the speedy Solana network: the PHNX token. If you're navigating the often wild world of meme coins, understanding the specifics is key, and that's what we're here for.

This report pulls together info on the token known by the symbol "PHNX," specifically the one living at the Solana address APwMS7bEvhGL7GRUfqSMJaNTBtNusgw4hu78DiMepump. We'll break down what we know about it, how it's performing, the potential downsides, and even a cool tool that can help you keep tabs on it.

What is PHNX on Solana?

Okay, let's start with the basics. This particular PHNX token is found on the Solana blockchain. While it sometimes goes by names like "Phoenix Coin" or "PHOENIX DOWN" ([Source 1]), its official symbol is PHNX.

Here are the key details we've gathered:

• Token Symbol: PHNX
• Network: Solana
• Token Address: APwMS7bEvhGL7GRUfqSMJaNTBtNusgw4hu78DiMepump
• Name: Phoenix Coin, PHOENIX DOWN ([Source 1], [Source 2])
• Circulating Supply: Around 1 Billion (1,000,000,000) as of May 10, 2025 ([Source 3])
• Maximum Supply: Interestingly, this token doesn't seem to have a defined maximum supply ([Source 3]). This means theoretically, more PHNX tokens could be created over time.

Based on the research, PHNX appears to be a meme coin or a community-driven project, possibly launched via platforms like pump.fun ([Source 4]), which are designed for easy token creation with minimal setup. This often means there isn't a formal website or whitepaper explaining a complex purpose, beyond maybe fostering a community around the "phoenix" theme – a symbol of rebirth and renewal ([Source 4]).

Its primary 'use case' right now seems to be speculative trading and community engagement through hype on platforms like X.

PHNX Market Snapshot

As you'd expect from a meme token, the market data can jump around quite a bit. Here's a snapshot based on recent information (primarily around May 19-20, 2025):

• Recent Price: Approximately $0.00034 as of May 20, 2025 ([Source 5]), and around $0.00027851 USD as of May 19, 2025 ([Source 4]). You can see it's already moving!
• Market Cap: This fluctuates. Recent figures range from $485.03K (April 24, 2025) ([Source 1]) to $133.76K ([Source 2]) and around $313,410 USD (May 19, 2025), with earlier estimates on the same day as low as $55,000 ([Source 4]). This rapid change shows significant volatility.
• 24h Volume: Trading volume has also varied. We've seen figures like $3.96M (April 24, 2025) ([Source 1]), $1.915M (May 19, 2025) ([Source 5]), and $954.76K ([Source 2]). As of May 19, 2025, it was around $112,000 USD ([Source 4]). High volume often indicates active trading interest.
• Recent Price Change: A notable report from May 19, 2025, indicated a 140.84% increase within 24 hours ([Source 4]). This really highlights the potential for rapid price swings!
• Holders: Around 378 holders as of May 19, 2025 ([Source 4]). This suggests a growing but still relatively small group of people holding the token.
• Dev Holdings: Reported as 0.0% ([Source 4]), which is a positive sign as it suggests developers don't hold a large supply that could be suddenly dumped.

Where Can You Trade PHNX?

If you're looking to potentially trade this PHNX token, here are a couple of platforms where it's been found:

• Phantom Wallet: You can buy and trade PHNX directly through the Phantom wallet interface ([Source 1]).
• Raydium (CLMM): It's available as a PHNX/SOL trading pair on Raydium, a popular decentralized exchange (DEX) on Solana ([Source 2]).
• Jupiter: As a prominent Solana DEX aggregator, Jupiter is another place where PHNX is traded ([Source 4]).
• Photon: This platform, known for supporting fast trading, also lists PHNX ([Source 4]).

Project Information and Red Flags

Based on the research, there are some important points to consider about the PHNX token:

• Unverified Status: Platforms like Phantom list this token as "unverified" ([Source 1], [Source 4]). This is a significant flag. It means the token's smart contract hasn't been formally audited or vetted by the platform, increasing potential risks.
• Meme Coin Nature: While there's community hype and trading activity on platforms like X ([Source 4]), there's no clear official project or substantial use case defined in the reports ([Source 4]). This aligns with the typical profile of a pump.fun launch.
• Confusing Name: Be aware that "PHNX" and "Phoenix" are used by multiple tokens on different blockchains (like PhoenixDAO on Ethereum, Phenix Finance on Cronos, etc.) ([Source 4]). Always double-check the contract address (APwMS7bEvhGL7GRUfqSMJaNTBtNusgw4hu78DiMepump) to ensure you're looking at the correct Solana token ([Source 4]).

Risks and Considerations

Trading or holding meme tokens like PHNX comes with considerable risks. Here's what the reports highlight:

• High Volatility: The price can change dramatically and rapidly (as seen with the 140.84% surge) ([Source 4]). This means potential for quick gains but also significant losses.
• Unverified Contract Risks: Without an audit, there's a higher chance of vulnerabilities in the smart contract or potential for "rug pulls" where developers disappear with funds ([Source 4]).
• Lack of Transparency: The absence of an official team or detailed roadmap increases the risk of the project being abandoned ([Source 4]).
• Liquidity Issues: While traded, liquidity can vary, potentially leading to high slippage costs when trading large amounts ([Source 1]).
• Regulatory Uncertainty: The broader regulatory landscape for tokens, especially those on platforms like Solana, is still evolving. The SEC has previously alleged that some Solana tokens may be unregistered securities ([Source 4]).

Given these factors, PHNX should be treated as a high-risk, speculative asset.

Tracking PHNX with GMGN.AI

For those interested in keeping a close eye on meme tokens like PHNX, platforms specializing in tracking and analysis can be super helpful. One such platform mentioned in the research is GMGN.AI ([Source 6]).

GMGN.AI is designed specifically for navigating the meme token market across various blockchains, including Solana. It offers features like:

• Real-Time Analytics: Get instant data and alerts ([Source 6]).
• Smart Money Tracking: See what successful traders are doing ([Source 6]).
• Automated Trading: Potentially automate your trading strategy (note: requires linking a Telegram account) ([Source 6]).
• Security Checks: Identify risks like honeypots before trading ([Source 6]).

You can find a dedicated page for the PHNX token on GMGN.AI for detailed information ([Source 6]). Keep in mind they charge a 1% transaction fee but don't require subscriptions for premium features ([Source 6]).

Conclusion

The PHNX token (APwMS7bEvhGL7GRUfqSMJaNTBtNusgw4hu78DiMepump) on the Solana blockchain is a recent entry into the meme coin space. It shows significant trading activity and community buzz, characteristic of tokens launched on platforms like pump.fun ([Source 4]).

While it benefits from Solana's performance, its unverified status, lack of formal project details, and inherent volatility make it a high-risk asset ([Source 1], [Source 4]). Blockchain practitioners and traders should approach PHNX with extreme caution, conduct thorough due diligence, and always verify the correct contract address to avoid confusion with other tokens ([Source 4]). Tools like GMGN.AI can help with tracking, but they don't eliminate the fundamental risks associated with speculative meme tokens.

Always understand the risks before deciding to interact with tokens like PHNX.

---

Source 1: Research Report 1
Source 2: Research Report 1
Source 3: Research Report 1
Source 4: Research Report 3
Source 5: Research Report 1
Source 6: Research Report 4