2 signals that a memecoin is a rug pull created to get your money
The memecoin mania is back to the cryptocurrency market with even more euphoria, more efficient tools to give traders an edge, and more elaborated scams, or rug pulls, created to extract liquidity and get people’s money. In this context, a self-proclaimed “professional rugger puller” posted two signals memecoin traders should watch to spot and avoid grifters. A rug pull in crypto happens when a project or token is created without a long-term goal. Instead, its goal is to attract easy liquidity, get people’s money, and exit for the next scheme. The X account, scooter , explained how identifying “sniping” and “wash trading” can help to avoid the most obvious scams in memecoins. To conclude, he explained that people should do basic research before buying anything. Picks for you Here’s how Cardano...
