Part 6/10:
Their journey took a darker turn when they experienced "rug pulls"—a colloquial term depicting scams where developers abandon a project after driving up its price, leaving investors with worthless coins. Consequently, it became imperative for them to understand the mechanics behind how meme coins are created and how liquidity pools function.
Educating themselves on the cryptocurrency landscape, they discovered that many meme coins are created with minimal effort, often boiled down to catchy names and viral marketing. They learned about mechanisms like honeypots and pump-and-dump schemes, which can ensnare unsuspecting traders.