The emergence of PumpFun has given new life to memecoins and their creators.
I’m convinced that this cycle is entirely dedicated to memecoins.
However, as the number of created tokens has increased, so has the number of scammers...
PumpFun is the most well-known platform on Solana, where you can create and launch your memecoin or buy one with just two clicks.
The platform gained widespread recognition, especially among degens who rushed en masse to make money.
The platform is evolving every day.
However, people continue to lose money due to their own mistakes.
Catching those coveted 100x returns isn't easy.
Only a very small percentage of tokens make it to Raydium after launching on PumpFun.
The problem is that scammers have started using more sophisticated schemes.
You might not even notice and end up buying a token that becomes a rug pull within 10 minutes.
But how do they do it, even if experienced users get caught?
If you're actively trading coins on PumpFun, you've probably noticed that a coin gets launched and quickly pumped up to Raydium.
Then, regular traders get involved, checking the coin and deciding to buy it.
There are no linked wallets, the dev holds no more than 4-6% of the total supply.
Everything looks great, and it seems like easy money, but...
...then the price crashes, and you end up losing your money.
Even when you check the token through @bubblemaps, everything will seem perfectly normal.
The purchases are made by bots from different wallets, usually with very similar amounts.
There won’t be any suspicious connections between the wallets.
Once a certain market cap is reached, bots can start interacting with the token to create fake trading volume.
Additionally, some KOL influencers might get involved to push the token higher.
KOL influencers may not be entirely at fault.
There are a few key points that can help you avoid these types of tokens.
You can often spot them right away, even without doing much research.
For starters, look out for very low activity on the token's PumpFun page.
If the comments section is filled with bots posting meaningless one-word phrases.
They tend to trade with identical amounts, and their wallets are topped up from CEX or mixers on the day of the launch.
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