Trading experience: How to avoid buying junk Meme coins
Background information
In May, as many as 455,000 tokens were created on the Sol chain, most of which were Meme coins. The life cycle of many Meme coins is extremely short, even only one or two days, and then they return to zero.
Risks of Meme coins
Meme coins are relatively risky, and returning to zero is the norm.
Methods to avoid buying junk Meme coins
Verify the security of the contract address Use tools to view the contract address to confirm whether it is safe, whether there are measures such as locking permissions and burning pools. It is recommended to use the following website for verification: [website link placeholder]. Social activity inspection Find the project party's Twitter, Telegram and other social media accounts. Evaluate the quality of Twitter content, the frequency of posting, and the exquisiteness of pictures and illustrations. Observe the activity and user participation in the Telegram group. Project heat assessment determines whether the project is a current hot spot and whether it has received widespread attention. Investigate community discussion and user feedback. Coin holding address analysis Analyze the number of coin holders and the distribution of chips. It is recommended to use the following website for viewing: [website link placeholder].
Characteristics of a healthy Meme coin
A healthy $MEME
coin needs an active and popular community, and the distribution of chips cannot be too concentrated.
Special reminder
MEME coins are high risk. Although the above methods can reduce the risk, they cannot be completely avoided. Please consider carefully before investing.
