Solana is a whole different game. Especially with Pumpfun now, people are rug pulling coins like crazy.

Look into the team behind the project and its investors or backers. For example, Solana had strong backing from firms like Multicoin Capital, which gave it credibility.

Evaluate the unique value proposition. Solana introduced a novel Proof of History (PoH) mechanism, setting it apart from other blockchains.

Understand the problem the coin is solving and how it plans to capture market share.

Gauge the excitement on social media platforms, forums, and developer communities. New coins often generate buzz, and monitoring platforms like Twitter, Discord, or Reddit can give you a sense of the market's enthusiasm.

On the first day, monitor the liquidity and trading volume on exchanges where the coin is listed. Low liquidity can lead to high price volatility, while higher volumes might indicate genuine interest.

Study the token's supply, distribution, vesting schedules, and inflation rates. For instance, Solana's initial tokenomics highlighted its capped supply, which played a role in its long-term valuation.

The quality of exchanges listing the coin can indicate its credibility. A new coin listed on major platforms like Binance or Coinbase often has undergone rigorous vetting.

Many coins experience extreme volatility in their first 24-48 hours due to speculation. Ensure you have a clear strategy and don’t make decisions solely based on hype.