Thread by @GetChipzNShill

🚨 AVOID #SCAMS 🚨

1. Holders
Go to etherscan and put in address. On the page you just opened, look at the "Holders" list. The biggest holders of a coin should always be the liquidity pool which is usually identified as "Uniswap: COIN NAME" and the dead coins’ wallet, usually...

usually identified as "0x000000000000000000000000000000000000dead". Why is this important? It reduces the possibility of a #rugpull to almost zero, especially if the dead coins’ wallet is over 50%.
Also watch out if there are too many whales 🐳

For example, 10 wallets each holding 3% of total coins is a huge red flag. Abort immediately. A healthy new coin should also have at least 200-300 holders. If it doesn't, also abort immediately. ❌

2. Liquidity Pool
The #liquidity pool is super important. I usually don't buy any new coin unless the liquidity pool is at least $30k or more. Why? Because #scammers and #shitcoins 💩 rarely provide a liquidity pool of that size.

Again, we're greatly reducing our risks here. A locked liquidity pool is also important. Make sure it's locked for a longer period of time. 3 months, 6 months, 1 year or longer are great. You don't want the liquidity pool to unlock tomorrow. 🔓

You can copy the contract ID and then go to #Etherscan (again, look up the links yourself)

3. Volume
Look at the "Transfers" section. If the coin has only 5 holders and no activity, skip it. If you want, bookmark it and come back tomorrow. You may have just been too early. ✅

If it has only a few transactions every 2-3 hours, also abort immediately. It's not taking off yet. A good number of transactions for a new coin should be about 5-10 per minute.⏱

4. Website, #Twitter, Social Accounts
Make sure the coin has a website and Twitter account. If it doesn't have both of them, abort immediately. If it also has a #Reddit page, a #Telegram channel, a #Discord, an #Instagram page, a #YouTube channel, etc. that's even better. 👍🏽

5. Coin Name & Design
The logo of the coin and the design of the graphics and website are very important. If it's not attractive, people will not jump in and it won't take off. If they use stock images that you've seen a hundred times elsewhere, proceed with caution. ⚠️

The name is also super important. If it has a catchy name like "Save The World🌎" it's much more likely to take off than "Funky Toilet 🚽 Coin 55". 🥴

6. Bonus: #Doxxed Team
This one is a HUGE bonus. If the team members publicly identify themselves, for example through @YouTube videos or live #AMA, it reduces the chance of a scam to almost zero. Why? Because their faces and identities are publicly known 👨‍💻👩🏽‍💻🧑🏻‍💻

#avoidrugpulls