memecoin scams are worse, there are really thousands of tokens created that influencers promoted and unsuspecting newbies invested into before they got rugged. Worse of it all most of them are still holding them and having hope that it would pump back and they get profits. I shared the story of someone in a community I belonged to lost $269 million in less than an hour and the token was created on the Solana blockchain.

A lot of scam comes with the bull run, personally I fell for the million money scam on the Ethereum blockchain in 2020 and lost all my Ethereum to that scam in a bid to build accounts and reap rewards. From my experience and what I've seen, altcoin scams are more rampant during bull runs and they leave lots of people in a big mess.