A thread on how to become rich from memecoins

So my first advice is always try and trade on a laptop or pc,

It’s a struggle to trade on your phone, to flick through all apps and watch chart at the same time, almost impossible.

How to spot a rug/scam?

Check stats, how many bundles, how many insiders, dev history.

You can use tools like trench radar, both website and telegram bot, this is probably the main tool,

Shows all info on bundles and dev history.

Phanes telegram bot is good too, shows when dex is paid and if dev has sold which is important information.

AI art, ai art is easy af to use, shows no skill or hard work from the team and most time turns out to be a rug

Teams work ethic, Always keep an eye on the intervals of Twitter posts, make sure they’re active. Make sure the team in telegram is active and raiding. An inactive, non-hardworking team encourages sells.

Things to watch out for:

Dev holding high % (you want them to ideally sell as they control large portion of the chart, or if they sell to around 1%)

Bundles below 10% is what you want to look out for,

There is instances where a bundle above 10% is okay, but that’s more larger coins that have stability.

Insiders, watch out for insiders buying, if you use certain platform where you can track insider wallets, it’s very helpful, I use axiom which has built in wallet and twitter tracker. (Code “yung” to sign up if you want daily sol rewards and cheaper fees)

Socials, you ideally want to only invest in a coin with social media’s, unless it has a very good funny narrative.

Art, good art is always a good indicator, shows good effort from the team on wanting a good coin, but be diligent, I’ve seen coins spends thousands on good art and marketing to turn out to be rugs, but you can usually tell straight away.