Tips on memes and shields and how not to get scammed
It is evident that more and more people are becoming interested in this area and starting to trade shields.
We decided to give some advice on what to pay attention to in order to minimize your risks:
Red flag: if almost the entire supply of the meme coin is held by the top 10 wallets. This means that one or several large holders can dump their assets at any moment, crashing the price. Ideally, no wallet should control more than 2-3% of the tokens.
Check the uniqueness of the token. Since many tokens have similar tickers (clones), always check the contract address on official resources. You can use Dexscreener to check the contract.
Monitor the activity at launch: high activity at the token launch is a good sign. Usually, traders react immediately to promising meme coins, so if the launch goes quietly and without excitement, it may indicate a lack of interest from the community and low chances of growth.
Evaluate the actions of developers: it is safest to buy tokens where the developers have already sold their entire share. When developers hold a significant portion of the tokens, they can dump them at any moment, which will lead to a price drop. For example, the token $Pnut began to rise after the developers sold their assets, and its further growth was due to hype and community interest.
Use useful analysis tools: the BubbleMaps platform is perfect for analyzing memes. It helps identify suspicious activity among holders and track large transactions. Such tools can help recognize potential dumping schemes and protect your money.
Remember the risks: despite all the analysis, memes and shields remain extremely risky assets. Enter consciously and do not invest what you are not ready to lose, always DYOR. Good luck!
I elaborated more on this on my parallel channel, so if you want more analytics, earning activities, dumping private channels, retro drops, and arbitrage, Pavel Durov will tell you where to find me 😏
Max_pro_crypto
