When I see someone say, "The new coin has risen by 50% since its launch, should I chase it? If I don't chase it now, it will be too late!", I want to ask, do you know about this project party? What practical problem does it aim to solve? How is the token economic model designed? If you can't answer any of these three questions, then what you're chasing is not a new coin, but rather a carefully designed play people for suckers.

Reality is harsh. The issuance of new coins in 2025 increased by 200% year-on-year, but 92% of them have fallen more than 90% from their historical highs—in other words, most retail investors chasing new coins have lost everything.

The current air coin schemes have upgraded. The project party no longer relies solely on white papers to boast, but instead employs a whole set of "professional packaging": faking code submission records on GitHub, creating false audit reports for endorsement, and organizing "testnet airdrops" to attract traffic. Before launching, they promote wildly on social media, bringing in various "big shots" to stand by, creating a FOMO atmosphere that makes you feel that missing out is a regret in life. And after the launch? They pump the price to attract retail investors to chase high, while the project party dumps at high levels and runs away with the funds, causing the coin price to drop to zero. Even darker tactics involve embedding backdoors in smart contracts, where user assets can be taken away at any time.

Want to avoid pitfalls? You must complete these 5 steps before chasing new coins. First, investigate the project party's background, check team members' real resumes and blockchain industry experience on LinkedIn; if the team is completely anonymous, pass directly. Second, read the white paper carefully, focusing on what practical problems it aims to solve and whether the business logic is sound.