crypto no sell, how does it happen?

another newbie · Sep 1, 2024

hi
Im new to crypto, maybe 2 months in, I followed the guide here on memecoins https://www.blackhatworld.com/seo/how-to-snipe-and-trade-meme-coins-for-100x-full-guide.1583707/
and filtered the page, and I picked out a coin to watch out of curiosity.

i watched this for a few moments
https://dexscreener.com/base/0xc02f3c5e971cb893bab606002ceb8eb472d24511

my question is, if the checks in the right sidebar are encouraging, how has this coin gone up with loads of buys but no sells? then the moneys all gone.

rugcheck gives an error regarding the amount of charcters in this too. 0x78867D1d10Fb0D16539363b141C02bFEe5F8a0Ff

whats going on that hasn't been picked up by the security checks?
The liquidity providers and holders has no data in. it started with $114k if I recall, but cant be sure now, or know where to find it.

Thanks
A. Newbie

01QUID · Sep 1, 2024

another newbie said:
hi
Im new to crypto, maybe 2 months in, I followed the guide here on memecoins https://www.blackhatworld.com/seo/how-to-snipe-and-trade-meme-coins-for-100x-full-guide.1583707/
and filtered the page, and I picked out a coin to watch out of curiosity.

i watched this for a few moments
https://dexscreener.com/base/0xc02f3c5e971cb893bab606002ceb8eb472d24511

my question is, if the checks in the right sidebar are encouraging, how has this coin gone up with loads of buys but no sells? then the moneys all gone.

rugcheck gives an error regarding the amount of charcters in this too. 0x78867D1d10Fb0D16539363b141C02bFEe5F8a0Ff

whats going on that hasn't been picked up by the security checks?
The liquidity providers and holders has no data in. it started with $114k if I recall, but cant be sure now, or know where to find it.

Thanks
A. Newbie

You’ve probably bought into a honeypot token, it most likely doesn’t allow any selling - only buying. The vast majority of buys that you saw was probably fake buys that these guys initiate them selves to manipulate people into buying into the pump.

Honeypot checkers on dextools are not always accurate since there’s ways to hire mint functions and other functions in the code, people these days also deploy proxy contracts, where all functions/source code is hidden behind the proxy contract.

I’d advice you to stay clear of dextools new pairs (or memecoins in general) if you do not know how to read contract/soldiity functions.

another newbie · Sep 1, 2024

hi, thanks for the reply. I didnt buy into this, I kept watching as soon as I saw only buys were going through.

so, if this were something you or any experienced user had your eye on and you wanted to buy in early, does the penny only drop when you couldnt sell? and obviously its too late. or what else would bother you about it?

28ETH is 'removed' from the pot , between the buy and sell. havent seen that before, ok its only 2 months.

I'm keen to learn , but dont know what I dont know. yu know

01QUID · Sep 1, 2024

another newbie said:
hi, thanks for the reply. I didnt buy into this, I kept watching as soon as I saw only buys were going through.

so, if this were something you or any experienced user had your eye on and you wanted to buy in early, does the penny only drop when you couldnt sell? and obviously its too late. or what else would bother you about it?

28ETH is 'removed' from the pot , between the buy and sell. havent seen that before, ok its only 2 months.

I'm keen to learn , but dont know what I dont know. yu know

If you know your way around token functions, you can check out their contract by searching contract address on etherscan. There’s a couple of functionalities that tend to be exclusively used by honeypots, some examples are:

Mint - being able to mint new tokens at any time.
Blacklist - being able to blacklist any wallet from transferring tokens.
No max buy/sell tax set in code - means they can basically increase sell/buy tax to 100% to prevent anyone from making swaps.

Also check if ownership is renounced, that’s always a +.

Other than that you might want to look into the community, which should be built organically and not be botted.

Deleted member 1921773 · Nov 11, 2024

Check this out if ownership is renounced, that’s always a +.

crypto no sell, how does it happen?

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