Hello, I'm new here and I wanted to ask something I've been confused about for a few days.
I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.
I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?
Look for signs. From whitepaper to team's profile and tokenomics. There is a gray lining in every scam project and research is a must. However, its really hard to determine even if you research all of this. Being doxxed aren't even assurance for them to be legitimate and even those who got successful ICO still doing scam. I remember in 2019 where scams are everywhere and so many money were collected.
The lack of development make the project go worse and finally after years once again it gets on track. Those weren't really scams, but lack of development or funding leads to some negative results on the market and gone.
This is also a thing with projects having a low experienced core team behind it and its community foundation isn't strong either.