This can save you from disappointment. Check if the coin was launched on pumpfun, and if it was, your chances of getting scammed drop significantly. If it’s only a few days old and has a market cap in the millions, your risk is even lower.
Sure, you can still lose money, and some coins might still fail, but the liquidity can’t be removed, making scams less likely.
So really, unless the coin is so old that it predates pumpfun, like Wif or some other well-known ones, just steer clear of coins not launched on pumpfun. That’s where the volume and liquidity are anyhow.
Good point about taxes; they’re tough to rug as they can’t easily be manipulated. However, they can still be exploited.
Regardless, pumpfun handles this too. Taxes can be added via a transfer fee or a transfer hook extension, only possible with Token 2022 tokens. Tokens created on pumpfun follow the standard SPL Token Program— not the newer 2022 program.
People often overlook metadata mutability, but pumpfun also solves that by keeping that authority.
True, but be cautious assuming it’s a pumpfun token just because the address ends in ‘pump’. I saw a Twitter post identifying a sneaky scam where deployers create vanity mint addresses ending with ‘pump’ to disguise rugs.
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I learned that when a coin launches, if the price candles are all green with a sharp price increase, it’s often the developer buying tokens with multiple wallets to artificially inflate the price. A healthy chart should show a mix of early sellers and buyers. If a coin shoots up right away, it’s wise to exit fast before you get burned. It happens quickly.
@Hadley
Not always; sometimes there’s a strong group behind a launch with good marketing that can list a coin on Raydium in a flash. Most of the time, I agree with you.
Neely said: @Hadley
Not always; sometimes there’s a strong group behind a launch with good marketing that can list a coin on Raydium in a flash. Most of the time, I agree with you.
@Merrill
They charge 1% or 0.9% with a referral link, plus any pumpfun fees if the coin is on there, and you may incur charges for priority and slippage could eat into profits. If you need a referral link, DM me.