Steer clear of investing in meme coins. If youâve got spare cash youâre okay with losing, feel free to trade themâbut donât treat them like a serious investment.
How do you spot a sketchy meme coin? Itâs straightforward: run through these questions about the coin youâre eyeing:
⢠Is there a lobbyist pushing it?
⢠Does a living person or entity hold more than 10% of the total supply?
⢠Can a handful of developers tweak the code at will?
⢠Are you seeing a flood of social influencersâpaid promoters or botsâhyping it all at once?
⢠Are there random price jumps with no real news behind them?
⢠Are you getting unsolicited private messages about the coin?
⢠Are people pitching it as âno riskâ left and right?
⢠Is there sudden viral buzz after months of silence?
If more than one of these rings true, that coinâs a rug pull waiting to happen.
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