LAB token surges amid large distribution but flagged as a scam with 98% supply held by team.

LAB token recently surged to an all-time high of $6.63 with a market cap of $1.61 billion after the developer team distributed 100 million LAB tokens worth $480 million across 10 wallets. However, on-chain investigator ZachXBT flagged LAB as a potential scam because the team controls about 98% of the circulating supply, leaving only 2% to over 19,000 holders. The token's price movement resembles a previous memecoin pump-and-dump scheme, raising concerns of market manipulation. ZachXBT also accused the Bitget exchange of allowing such scams to operate, urging caution among retail investors.