Question 1

What is a Solana token scanner?

Accepted Answer

A Solana token scanner is a tool that analyzes cryptocurrency tokens on the Solana blockchain to assess their safety, legitimacy, and risk level. It checks factors like holder distribution, liquidity, contract permissions, and other security indicators to help investors avoid scams and rug pulls.

Question 2

How do I scan a token with Meme Scan?

Accepted Answer

To scan a token: 1) Copy the Solana token contract address, 2) Paste it into the search box on our homepage, 3) Click 'SCAN' or press Enter, 4) Review the comprehensive analysis including risk score, holder data, liquidity info, and security warnings.

Question 3

What is a rug pull in crypto?

Accepted Answer

A rug pull is a type of crypto scam where developers abandon a project and run away with investors' funds. This typically happens when liquidity is removed from a token, causing the price to crash to near zero. Signs include concentrated token holdings, unlocked liquidity, and anonymous teams.

Question 4

How can I avoid crypto scams on Solana?

Accepted Answer

To avoid Solana crypto scams: 1) Always scan tokens before buying, 2) Check if mint/freeze authority is revoked, 3) Verify sufficient liquidity (>$10K), 4) Ensure no single wallet holds >50% of tokens, 5) Research the team and project, 6) Be cautious of tokens less than 24 hours old.

Question 5

What does the risk score mean?

Accepted Answer

Our risk score rates tokens from Low to High risk based on multiple factors: holder distribution, liquidity depth, contract permissions, age, and other security indicators. Low risk means the token passed most safety checks, while High risk indicates multiple red flags that suggest potential scams.

Question 6

Why is holder distribution important?

Accepted Answer

Holder distribution shows how tokens are spread among wallets. If one wallet holds >50% of tokens, they can dump and crash the price. Healthy distribution has many holders with no single wallet controlling a large percentage. We flag tokens with concentrated ownership as high risk.

Question 7

What are mint and freeze authority?

Accepted Answer

Mint authority allows creating new tokens (increasing supply), while freeze authority can freeze token accounts. Both should typically be revoked for legitimate projects. If not revoked, developers can mint unlimited tokens or freeze user funds, making it extremely risky.

Question 8

How much liquidity should a safe token have?

Accepted Answer

Safe tokens should have at least $10K+ in liquidity, with $50K+ being much better. Low liquidity means high price volatility and difficulty selling. Liquidity under $5K is a major red flag as it suggests the token could be abandoned or manipulated easily.

Question 9

When is the best time to buy a new token?

Accepted Answer

Never buy tokens immediately after launch. Wait at least 24-48 hours to see if liquidity remains stable and no red flags emerge. Many rug pulls happen within the first few hours. Always scan the token first and start with small amounts to test.

Question 10

What should I do if I find a high-risk token?

Accepted Answer

If our scanner shows High risk: 1) Do NOT buy the token, 2) If you already hold it, consider selling immediately, 3) Research further if you're unsure, 4) Never invest more than you can afford to lose, 5) Look for alternative tokens with better safety scores.

Frequently Asked Questions