After checking the deployer wallet (see part 1) one of the next things to do is to check "security helpers". Be aware that they are not absolutely accurate, but can give you at least some overview of critical points. A common (and free) tool is eg: https://tokensniffer.com/ There you can copy&paste the contracts address and check for contract, holder and liquidity issues. Other tools like Go+ security or Quick intel are directly seeable on Dexscreener. Those checking some more critical issues. Once again: these tools only give hints and are not perfectly accurate. But they can count as an indicator for your choice of going early into a coin or not.