It’s also worth checking if their following is consistent across various platforms as, unless they have just set up a new account, this could be another potential red flag.
Do your due diligence on their social channels- if the project has lots of followers, do the likes and interactions/engagements on their posts seem legitimate for the number of followers they have? If not, they may have fake followers or bots to make it appear that they have more followers and that the project is more popular than it actually is. This is a major red flag to watch out for! It’s also worth checking if their following is consistent across various platforms as, unless they have just set up a new account, this could be another potential red flag.