3 RED FLAGS INDICATING A SCAM MEMECOIN 🚩 👇
1) Inflated Social Media Metrics
Typically the project has an unusual high number of social media followers or Telegram/Discord members with little real engagement or interactions. A project with a massive but silent audience is very suspicious! How To Spot It? Usually I check for bots or fake engagement by analysing comments, likes and responses. There are free tools online that do it for you quickly.
2) Dubious Tokenomics
Pump-and-dump schemes and dubious tokenomics exploit hype and market manipulation to enrich insiders at your expense of regular investor! What I do recommend here is to analyse the token distribution using blockchain explorers to check if a few wallets hold the majority of the supply!
3) No Locked Liquidity
Here usually the liquidity pool for the token is not locked! This allows developers to withdraw funds and abandon the project (rug pull). There are tool online that can support you for this situation. If the liquidity is unlocked or only locked for a very short time, then is a major warning sign!
Part 2? 🤔Let Me Know In Comments If You Interested!
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