Here's how scammers operate and ways to protect yourself.
How to spot a SCAM vs GEM
Cay I ask u?
I always do my best for you, guys.
Every memecoin trader has been tricked by scam tokens at least once, and Iโm no different.
Sadly, there are dishonest developers and CTOs out there.
Even if youโre just starting and have only theoretical knowledge, chances are youโll fall for a rug pull eventually.
When hunting for the next moonshot, high trading volumes often grab attention, even with small market capsโitโs what triggers FOMO.
But how can you avoid bad trades? Start by checking trading volume and the number of holders.
Everyone uses tools like @dexscreener for token metrics.
If thereโs no trading volume, thereโs no point in deeper analysisโitโs the first sign of promise.
These steps help spot hidden gems before others ape in!
Using @gmgnai gives you access to a treasure trove of information.
Visit here โ https://gmgn.ai/?ref=vKmESMwu&chain=sol
Explore Smart Trader data, wallet tracking, and sniper activity monitoring.
Make sure to see if the token youโre analyzing has any sniper involvementโthis is an important
Start with an important step to eliminate 99% of tokens: @InsightXnetwork.
This tool uses advanced bubble maps to help you check tokens.
Simply enter the contract address (CA) and look at how holders interact. Itโs an easy way to catch suspicious activity early.
Scammers use bots or shady services to make their tokens look legitimate.
In the video, youโll see how scammers can buy trading volume and holders directly from a site.
Itโs surprising how cheap and easy it is to make a token look active.
Maybe this was meant for legitimate developers, but scammers abuse it.
High volume doesnโt always mean legitimacyโitโs often just for show!
RugCheck & Solsniffer
@Rugcheckxyz & @solanasniffer
Start by examining the tokenโs overall security rating to spot any significant warning signs.
Be cautious about mint authority or liquidity that isnโt lockedโthey can be deceptive.
Watch out for issues like honeypots or shady deployer activity.
One last piece of advice: Donโt base your decisions only on basic metrics.
Numbers like volume and holder stats can be manipulated.
Go deeperโevaluate the team, inspect the code, and look for clear signs of transparency. If something seems rushed or suspicious, itโs safer to stay away.
That's a wrap for now!
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