How to stay sane in memecoin world? Part-2

We began from Part-1 here. This is Part-2 of this series.

After you have identified a token that fits the meta, do your due diligence. Good thing with pumpfun is that you don't have to check if the liquidity is burned or not. But Pumpfun is all about devs, you have to figure it out if they can get it out to Raydium and not screw the project up before hitting the bonding curve. Almost everyone can create a pumpfun project — that person is commonly called a dev in memecoin vernacular — even though he/she does not have to be an actual coder.

Remember that you — the reader — can be a dev. With that in mind, just know that any dev can invest 200-300 dollars, and make it into 3000 dollars in 1 hour by slapping a meme around the meta narrative, creating a new twitter and an ugly website. Most of these people lack skill that's good, but there will be people who can make crazy af website and still rug it. 3000-5000 dollars a day for this work is huge in any country, and crazy af in third world countries. Sometimes its not even the dev, it's the people who he trust with telegram group and all, so fuckery will happen for sure. So yeah, you have to read the devs and the amount of work they are putting in. Don't get me wrong there are good people too, but 95%-98% will rug you and people know how to play this game now, so they know when to dump and they usually don't want others to win so it's trenches for real.

I know that thinking up to 98% launches to be rugs sounds wild, but that is the truth. Success as a memecoiner will depend on identifying the remaining 2%-5% tokens. But even if you find that possible runner, you have to then be ready for PvP, which we will cover in next part. For now, I won’t dive into what a rug pull is, but it is exactly what it sounds like and you can learn more at at other places. Here is a good primer on what a rug pull is from Coinbase.

End of part-2, you can read the part-3, which is the final part in this series here.