The meme is very popular recently. The transaction volume on SOL chain has surpassed all other chains in the past two weeks. This is mainly due to pumpfun. The increase of pumpfun is really fascinating, but there are also many pitfalls to be aware of. If you are not careful, you will fall into the pit.
Why is pumpfun so popular? First, its issuance mechanism is very fair and equitable, and the issuer does not have any authority after issuance. In addition, pumpfun issued MOODENG (0.000003986～0.3449) and GOAT (0.000003966～0.9104), and how many zeros are missing.
It was originally a very good platform, but now it is full of chaos. For example, if you see a rapid rise in a short period of time and a large trading volume, and then you look at the transaction record as shown in the figure below, it is very regular, which obviously has a problem, and then when the time is right, all are sold at once, and a negative line is pulled to the bottom. This must be a robot operation, and human operation is not so fast. If you don't look at anything and rush in, you will fall into the pit.
Then, if you look at the coin holding addresses, except for the liquidity pool, the share of a single address exceeds 20%, which is considered a relatively large proportion and should be considered carefully.
If you look at the details page again and there is not even a website or social media link, do you think this is just something someone posted casually? Can it go far, right?
You can click on the website link on the details page to learn more about the project. Some URLs are just random links, which you can tell at a glance, or they link to other people, so you can see if they are related to the project.
Also, if the name is just an icon or some symbols, it is not conducive to dissemination and search. Or if the avatar is a dynamic picture, it is recommended to be cautious.
By the way, I saw some people bought Pixiu coins in the square, but they were very upset if they couldn’t sell them. I suggest you check the currency before buying. Of course, the coins on pumpfun don’t have these problems, so this step can be ignored.
I have mainly summarized the above points. If you have any other pitfalls, please feel free to communicate.