Memecoin and Solana FAQ: Wallets, DEXs and Scams

A memecoin is a cryptocurrency built around a joke, theme or community rather than a specific product. Value is driven mostly by attention and sentiment.

Yes, very. Prices can fall to near zero quickly, liquidity can be thin, and scams are common. Only use money you can afford to lose.

Most do not promise any. Some communities build things around them, but you should not assume utility unless it is clearly delivered.

Solana is a blockchain known for fast transactions and low fees, which makes it popular for trading tokens and memecoins.

SOL is Solana's native token. You need it to pay network fees and it is normally the token you swap to buy other Solana tokens.

A wallet is an app or device that holds the keys controlling your crypto. It lets you send, receive and swap tokens.

A seed phrase is a list of words that can restore your whole wallet. Anyone who has it controls your funds, so store it offline and never share it.

No. Support staff, admins and websites never need it. Anyone asking is trying to steal from you.

Popular choices include Phantom and Solflare. Install only from the official site or app store, and check that the app supports the tokens you hold.

Pump.fun is a platform where anyone can create and trade a new Solana token. Tokens start on a bonding curve and may later move to a DEX pool.

It is a formula that sets the price from the amount of tokens bought, so the price rises as more is bought and falls as it is sold.

A decentralized exchange lets you swap tokens directly from your wallet using smart contracts instead of an account on a company exchange.

A pool holds two tokens, such as SOL and a memecoin, that traders swap against. The size of the pool affects how much the price moves per trade.

Slippage is the gap between the expected price and the executed price. It grows with larger trades and thin liquidity.

Use the lowest that lets the trade go through. Very high slippage can let bots or poor pricing cost you much more than expected.

Optional extra fees paid to have a Solana transaction processed sooner, useful when the network is busy.

It is the unique address of a token's mint on the blockchain. It is the only reliable way to identify a specific token, since names and tickers can be copied.

Compare the contract address with a trusted source, then confirm it on an explorer. Never trust the name or logo alone.

A rug pull is when creators or insiders drain liquidity or sell a large share so that other holders cannot sell at fair prices.

A revoked mint authority means no new tokens can be created. A revoked freeze authority means accounts cannot be frozen. These reduce some risks but do not guarantee a safe investment.

Burning permanently removes tokens from supply. It reduces circulating tokens but does not by itself create value.

Market cap is price multiplied by circulating supply. It is a rough size measure and can be misleading for thinly traded tokens.

It is the number of wallets holding a token. One person can own many wallets, so it is not the same as the number of people.

It is a fake free token or claim link meant to trick you into connecting a wallet or approving a harmful transaction. Do not interact with unexpected tokens.

Connecting only shares your public address, but approving transactions can move funds. Use trusted sites and read every prompt before you sign.

Verify contract addresses, ignore unsolicited DMs, never share your seed phrase, avoid hype and urgency, and start with small amounts.

Causes include no liquidity, a token that blocks sales, a bad slippage setting or a network problem. Check the pool and the token settings before buying.

They are tokens with the same name or logo as a popular one but a different address. Always match the exact contract address.

Only an amount whose total loss would not hurt you. There is no safe amount that guarantees any return.

No. All content here is educational and informational only.