2025’s Rug Trap

I hope everyone has a beautiful Christmas and enjoys time with their families away from work.

When it comes to meme coins, some work while others don’t. Community is important, but what if that community consists of a limited number of insiders promoting it as genuine? This post aims to highlight that many meme coins are merely pump-and-dump schemes, often masked by smoke and mirrors, leaving investors hoping the developers are truly working and not just gambling for quick cash.

Take Kendu Inu, for example, which is on Ethereum and soon to be on Solana. Their motto is, “We don’t gamble, we work.” But the reality is different. The developer, Miazaki, is known for creating meme coins, pumping them up, and then dumping them. The Telegram community is filled with random posts that have no real influence on the coin, and the Twitter/X page features Miazaki with his middle fingers up—definitely not a professional image.

Many people are frustrated that he’s been working on other coins, leading to more departures from the Kendu community. Most long-term holders since May believe January 2025 will be crucial for the coin’s future. However, Miazaki’s indifferent attitude has turned many off; a man is only as good as his word.

The Solana bridge is seen as an attempt to adapt to market conditions, but it raises more questions than answers. The developer even promised that Kendu Inu would reach a $1 billion market cap by the end of the year, jokingly stating he would staple his forehead with paper if it didn’t happen. With only six days left, there’s no sign of that staple or any real progress.

I guarantee that 2025 will continue a downward trend in price action for this coin. This is a warning for newcomers: do not invest your hard-earned money. I’ve worked hard for mine, and it feels wasted. The “team” is busy creating more cash grabs, and Miazaki has made false promises about sticking to Ethereum, only to change course based on community feedback.

I’m willing to bet that this coin won’t reach its all-time high by the end of March 2025.