I'm now checking whether the project is working seriously, rather than focusing on slogans first.

First, I look at the treasury expenditures: where the money is going, whether the spending is stable, and if it aligns with the milestones.
Honestly, the spending rhythm is like an ECG, suddenly ramping up marketing efforts, then stopping after a couple of weeks.
That kind of pattern makes me question things;
Conversely, consistently paying developers, auditors, and infrastructure—even if there's not much hype—feels more like walking.

Recently, there's been a bunch of incentives on testnets and expectations for points,
everyone's guessing whether the mainnet will issue tokens.
I also check:
It's normal to issue more rewards to boost hype,
but if the treasury keeps leaning toward short-term user acquisition,
while core deliveries are delayed,
then I see it as buying time.

I once encountered a project where, on-chain, I saw a few large transfers from the treasury,
and the recipient addresses kept changing around.
I just couldn't understand it, and the group was still shouting about boosting points...
I decided not to act on it for now.
Later, it indeed didn't crash,
but I don't regret it—when the fog is too thick, better not to drive blindly.
Wait until the signs are clearer.