I've been using this platform for a while, and honestly, I've wasted a lot of SOL. Although I've stopped, I still see some PumpDotFun coins trending on DEXTools with more than $1M market cap which mostly starts from $30k or $20k marketcap depending on the DEV holdings. I've always thought the idea of a good memecoin from PumpDotFun was seeing the coin having a good website and active community, but now I realize it's just luck and timing. It's probably about knowing the right time when a celebrity is about to launch their token.
Does anyone have better idea on how to identify reliable tokens or avoid rug pull tokens on pumpdotfun?
I've heard about DEXTools, but the stories so far have not been encouraging. So, I try my best to avoid such situations when it comes to presales because if anything happens, there would not be anybody to hold accountable for your losses, so it is better to avoid them than to get entangled in a situation you can not explain. Tokens that mostly launch on DEX are majorly meme tokens hyped by celebrities and influencers with no value so that if anything happens there would be nobody to hold responsible but yourself to blame for taking part in it.
The best thing one can do is just to make use of CEX because your assets and investments are guaranteed there is nothing like rug pull as the platform is regulated and anyone who wants to list their token must undergo some process which are required of them before listing. The CEX should be a well known CEX with track records which has been existing for long before now. Here you can by tokens and coins of your investment choice.