What a honeypot is
A honeypot token is coded so ordinary holders can buy but cannot sell, while the creator can. The price looks like it only goes up until you try to exit.
How to detect it
Check the contract for sell restrictions, look at whether anyone besides the creator has sold, and be wary of tokens with sudden vertical charts and no audit.
Staying safe
Simulate a sell or use a token-safety scanner before buying. Concentrated ownership and unverified code are strong warnings.