A Solidus Labs report says almost all tokens on Pump.fun are rug pulls or pump-and-dumps.
Out of 7M tokens launched, only 97K kept $1K+ liquidity.
Solana’s low fees + easy DEXs make it a memecoin scam hotspot.
Raydium DEX shows 93% of liquidity pools had soft rug pulls too.
Is Solana’s memecoin boom actually just a fraud factory?
Trust all of the so much hyped coins as just ponzi in an advanced mechanism called cryptocurrency, because most of them are nothing but scam who already have their own way to carry out an exit scam on the gullible investors, most especially those that mistakes them for long term investments potentials, just like all the memecoins did, with the hype and pump and dump thing, same way with all of them in that category, so don't think anything good will definitely come out from solona projects
Scams and frauds isnt something new into this crypto space and before we do have that meme coins hype, we do have first those projects in the past but there are still those scam projects on that time, although it isnt that as rampant as we do have today. Meme coins getting hype after with that blast off with that first meme coin on which later on we do have those lots of meme coins out theire on BSC chain on which is now being flooded out with SOL based meme coins. Considering on how people could make out some easy money into this industry or market then it had become a main trend and plus having that easy way or methods on creating their own meme coins then its not shocking nor surprising that we do have a market today on which its been flooded out by tons of shit projects out there. As an investor then you should be that careful on dealing up with these investment on which it is that very high risk and higher chance on losing money considering that most of these types are just that scam and frauds. Before I have been a fan on investing with some meme coins on dexscreener or radium but i havent been able to touch up myself on pump.fun. I do even join up with that pinksale too but most of the time I do end up on having that tons of loses due to not be able to hit up the right project or meme that do hook up that sufficient hype. I wont say that 98% of them are scams but rather 99.5% will be the exact numbers when it comes into this manner. As an investor then always consider out on investing only into the amount on which you can afford to lose. Dont go all in and be prepared of losing money because most of these shit tokens do end up on getting burried after some single pump or doesnt have any pump at all.