This is absolutely true. Unfortunately, the meme coin sector has adopted this approach. We should not be fooled by their promotions because they are looking for easy profits from hundreds of investors who may believe that they are creating coins in order to enrich others.

Even if you look at the contract address of the Taekwondo coin that OP is promoting, we will find that it is highly risky and that there are Top 10 holders who own more than 30% of the token supply. Also, from the token chart and the information shown on DexScanner, we see that it is a pump and dump coin, so I advise to completely avoid this coin. These projects launch in the market, and once they’ve finished deceiving aspiring investors, they will quickly disappear with their money, leaving dead coins behind.