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Enron, the notorious energy company that collapsed in 2001 due to massive accounting fraud, has resurfaced with the launch of a cryptocurrency token named $ENRON on Solana. The token skyrocketed to a market capitalization of $700 million within six minutes of trading, with volumes approaching $50 million, before plummeting by over 70% to around $186 million and later stabilizing at approximately $236 million. The project has drawn scrutiny for its predatory tokenomics, notably a brief seven-day lock-up period for insider tokens. The Enron trademark appears to be owned by a group associated with the satirical 'Birds Aren't Real' conspiracy project, and the company's website references parody and performance art, casting doubt on the project's legitimacy. SEC Commissioner Hester Peirce commented that investors purchasing tokens without clear long-term value propositions should not be surprised if the price drops. Observers have noted the irony of Enron potentially defrauding investors a second time through this cryptocurrency venture.