How to Avoid Rugpulls in Memecoin Trading
Introduction Rugpull is a common problem experienced by traders, especially meme coin traders, resulting in costly mistakes. Rug Pulls happen to coins of any liquidity and market cap. Developers may create a Meme coin and Rug Pull it in order to enrich themselves at the expense of community holders. Methods that can help you avoid Rug Pulls are : Using a scan tool, buying and selling small as a test, looking at the holding of whales and developers, mintabilty review, checking for reviews online and checking whether the liquidity is locked or not. All of these, have been unpacked below. 1. Scanning Meme Tokens. Checking Meme tokens using a reputable tool , is one of the best way to avoid costly mistakes and protect yourself. Scanning is using a tool to examine the contract address of a meme coin, it is like shaking a box of matches to find out if there are any match sticks inside. Checking a meme coin works in the same way. with the help of modern tools , it is possible...