Scammers are making $200,000 daily on #PumpFun, but only 0.1% of traders know how to avoid falling for these traps. Here’s how you can protect yourself and spot SCAM memecoins:
🔍 1. Deception Through BubbleMaps
- Check Token Holdings: Ensure the top 5 wallets don’t hold more than 10% of the total token supply. Large holdings by a few wallets can indicate a scam.
- Tool: Use @bubblemaps for analysis.
🚫 2. Fraudulent Listings on Raydium
- Watch for Fake Wallets: Scammers often use fake wallets to buy up tokens, increasing the Market Cap artificially.
- Beware: Tokens reaching $60K Market Cap might be listed on Raydium as part of this scheme.
📉 3. Creating Fake Trading Volume on DEX
- Identify Artificial Activity: Scammers make numerous trades from new wallets to boost token rankings on Dexscreener and Birdeye.
- Caution: Look for signs of inflated trading volumes.
🐦 4. Social Media Presence
- Verify Twitter Accounts: Lack of a Twitter presence can indicate a rug pull or hastily created project.
- Tip: A strong social media presence is often a sign of legitimacy.
🛡 5. Rug Pull Contracts
- Use Rugcheck: Analyze contracts with rugcheck.xyz to ensure they are not designed for a rug pull.
- Protection: This tool helps you detect potential scams with ease.
By following these 5 strategies, you can significantly reduce the risk of falling victim to SCAM memecoins. Start small and stay vigilant! 💡🔍
