Want to play with Dogecoin but afraid of getting scammed? Here are some practical risk identification tips.

First, check the permission settings. Projects that give full liquidity pool permissions to exchanges at least show a certain level of transparency from the founding team. Conversely, if permissions are vague or even hidden, it's likely a scheme aimed at quick profit and exit.

Second, keep an eye on the ownership structure. Among the top ten holding addresses, the second to tenth addresses together hold over 20%, and in some cases up to 90%. This means the whales hold enough chips to dump the price. In such cases, the risk of the project being wiped out increases significantly.

The last signal is the Alpha leaderboard. If a coin has many holder addresses but never makes it onto the Alpha list, there are often hidden critical issues behind its obscurity.

All three conditions are essential. Missing one means caution; only projects that meet all three may show that the whales are genuinely committed to long-term development.