After getting rugged (twice), I’ve started developing my own personal checklist to spot red flags in new altcoin projects. Here are a few I now take seriously:
Team not doxxed: If there’s no face, it’s a risk.
Also if there is a face, it's a risk. Team not doxxed: If there’s no face, it’s a risk.
There has been everything from stolen pictures to fake AI pictures and even exposed people who end up scamming. Obviously the risk is less than with no face projects but it is quite considerable and always worth investigating. No GitHub activity: A “project” with no code is a meme, not a coin.
When reviewing GitHub activity prefer quality over quantity. It is easy to create a lot of commits while doing work, but it is meaningless. 90%+ tokens held by insiders or devs: Obvious exit trap.
Whitepaper is vague or just buzzwords.
No clear revenue model: If it doesn’t generate value, it won’t last.
Most are like this. On the other hand tokens such as CAKE from PancakeSwap have done very good during the bear market and most crashes. They generate a lot of revenue and generate it consistently. No clear revenue model: If it doesn’t generate value, it won’t last.