Recently, the MEME coin GOAT on Solana has been the biggest wealth code, with its market capitalization surpassing $400 million in just one week. It has also allowed many smart money to gain over a thousandfold returns. Behind the stories of getting rich, how did these smart money operate and how did they achieve over a thousandfold returns? PANews conducted an in-depth analysis of 6 smart money addresses that have achieved significant gains on GOAT.
In the analysis, PANews mainly focused on when these smart money bought in, what their daily buying operation strategies were, how long they held their positions, and when they sold out their principal, etc.
2PYWK: Pump.fun curve pusher unexpectedly captured GOAT
2PYWKE6EJ8pWeX11ahhvrY1k947JCwuwZpV4eihiJJNS (hereinafter referred to as "2PYWK"), this user started buying around 1 hour and 25 minutes after the opening, when GOAT's market value was still less than $50,000. 2PYWK is one of the earliest promoters of GOAT. In fact, even before GOAT completed the Pump.fun curve, 2PYWK had spent 1.15 and 1.41 SOL to buy in, and also became the last transaction to meet the curve. However, it is clear that 2PYWK was very cautious, quickly cleared the position after being listed on Raydium, and recovered nearly 7 SOL, completing the first profit on GOAT. It was not until more than an hour later that he entered the market again.
By analyzing several other transactions of 2PYWK before this, it can be seen that the main method of this address is to find tokens that are about to complete the curve on Pump.fun, buy them, and then sell them on Raydium. This has been his main profit-making method before, but from the results, he will also encounter projects that go to zero after buying, resulting in a complete loss. GOAT should be an accidental successful attempt. The user's initial funds seem to come from Binance.
Let's analyze the logic of this user's success. First, by trading on Pump.fun, he had already made a profit of about 4 SOL, so when he bought 5 SOL the second time, his cost was almost negligible. This time, he held the position for a much longer time, holding for 3 days and 21 hours before making the first sale, and the amount sold was a whole number of 100,000, totaling about $15,000, about 20 times the principal. Subsequently, he continued to sell the tokens in batches of 100,000. According to PANews' estimate, if he had not sold out, his initial holdings could have reached $4.3 million by October 17, with a maximum multiple of 5,678 times.
HdxkiX: Grab the opening + heavy position buying, suspected to be a robot
HdxkiXqeN6qpK2YbG51W23QSWj3Yygc1eEk2zwmKJExp (hereinafter referred to as "HdxkiX"), this address bought in a little earlier, but his cost price was about 3 times higher than 2PYWK. The reason is that HdxkiX bought in when GOAT was in the process of a sharp rise, and it surged 5 times in just 5 minutes. HdxkiX's buying may have been attracted by this kind of surge. Subsequently, the price of GOAT plummeted, dropping about 90%.
Moreover, from the buying operation, HdxkiX likes to buy in large positions, buying nearly $5,000 within 1 minute, and then adding another $1,500 in the next 5 minutes. During this surge process, HdxkiX should also be one of the important contributors.
Subsequently, when the price had risen about 30 times from the cost, HdxkiX began to sell out, selling the principal in two batches. The holding time was about 4 hours. Subsequently, he continued to sell out, and as of October 17, there was still about $460,000 worth of GOAT left in the account. If he had held the initial amount to the end, the maximum profit could have been $10.36 million, a profit multiple of 1,711 times.
From the operation, HdxkiX looks like a high-frequency trading robot address. As of now, this address has conducted over 14,000 transactions. PANews' analysis found that HdxkiX seems to like to grab the opening, mainly focusing on tokens that have just been listed on Raydium, in order to obtain short-term profits. At the same time, after making a profit, HdxkiX's usual choice is to sell out the principal, and then gradually sell out the remaining gains.
8vChPg: Super whale, bought $1.77 million when the market cap was $170 million
The address 8vChPgJiQUZfq4SeHhLA6ExSwFbSEaWU7krbwcWRpXSw (hereinafter referred to as "8vChPg") is clearly the operation of a super whale. 8vChPg is a new address, and after being created on October 14, it kept withdrawing about $1.77 million from the Kraken exchange and buying all of it into GOAT. Calculated from the cost, 8vChPg's average cost reached $0.174, and the market value at the time of purchase was as high as $170 million. Although the timing of the purchase was not very early, GOAT had already become hot in the MEME circle on October 14. It can only be said that 8vChPg is bold, and has not sold so far (October 18), and has also obtained about 1 times of floating profit, with a floating profit of about $2 million. From the scale of funds and operation style, the owner of this address is most likely an institution or a super whale.
4kiK6: MEME short-term swing trader lucky to buy in before the surge
The address 4kiK6miT9452acv3R2NvxMyqM3dPNkNopwFMEGJL1pnn (hereinafter referred to as "4kiK6"), 4kiK6 seems to be a professional MEME coin swing trader, he often buys and sells within a short period of time (about 10 minutes), this operation often results in losses, and the profits are not large when he makes a profit. However, this address has been buying and selling MEME coins since March 2024, and judging from the trading frequency, it should also be an old player of MEME coins. Generally speaking, 4kiK6 will sell out all the tokens after buying, and in the case of buying GOAT, he was lucky that the GOAT price surged dozens of times in a short period of time. Therefore, 4kiK6 did not need to clear the position, he just chose to sell $1,700, and then gradually sold out the rest.
CMDar: Professional smart money, heavy position + patience to create a million in profits
CMDarQhUrahd9f3UNEaC5yfBi5ha8gsLEwP9aHZQeDLG (hereinafter referred to as "CMDar"), this address also looks like a professional trader. According to Lookonchain monitoring, CMDar had previously traded $BILLY and made a profit of $593,000 4 months ago. From the operation of GOAT this time, CMDar's operation style is also not to grab the opening, but to discover it early. When he bought in, GOAT's market value had already reached $8.58 million, and from the K-line chart, it had just experienced a major surge. At this time, it usually takes a certain amount of courage to enter the market, and CMDar's buying position is also very large, buying $92,000 in less than 10 minutes, with each purchase being 50 or 100 SOL.
Subsequently, CMDar patiently waited for 5.5 days, until the price had risen about 40 times compared to his buying price, before starting to sell a small portion in batches to recover the principal. From his operation, this is undoubtedly the legendary MEME "diamond hand", as for why he dared to buy in large positions at a relatively high market value, and seemed to have foreseen that GOAT's market value would break through $100 million, and only sold out when the price had risen 40 times, the logic behind this is indeed worth pondering.
4Jpef1: Even MEME whales panic when facing a crash
4Jpef1, the user of this address, appears to be another MEME whale player. About 6 hours after GOAT was created, 4Jpef1 started to buy in large quantities, and in about half an hour, he allocated about $63,000 to buy the tokens. However, the price was in a correction phase when he bought in, and it seems that many of the tokens sold by panicked retail investors were absorbed by 4Jpef1. After his purchase, GOAT experienced a brief rally, followed by another deep correction. This seems to have caused some panic for 4Jpef1 as well, and he has sold off some of his holdings several times, then bought back in after the situation stabilized. However, 4Jpef1 is apparently more patient than other holders, as he initially bought about 15 million GOAT, and currently still holds 13 million, worth about $4.79 million, with a floating profit of at least $5 million.
According to PANews' analysis, based on the operation style of other tokens, 4Jpef1 also likes to capture tokens that have just been listed on Raydium. Subsequently, he quickly sells out the principal after the token rallies, and keeps the remaining holdings. However, 4Jpef1's operations do not always make money. On the same day he bought GOAT, 4Jpef1 also bought another MEME token, Freakbob, investing tens of thousands of dollars, but mostly at the highest point. By the 13th, this token had dropped by 90%, and 4Jpef1 also generously returned all the tokens to the creator.
Summarizing the smart money operations on the GOAT token, PANews found that among these players, there are no lucky newcomers, but all are experienced professional MEME players. Although their strategies are different, it can be seen from the operation process that these players all have their own unique analysis methods (of course, we don't know what specific indicators they use).
In addition, from the trading operations of these smart money, the earlier the traders buy in, the less they invest each time, which requires fast speed and quick analysis capabilities. While some large holders only choose to enter the market when the token market value grows to hundreds of millions or even billions of dollars, and rarely operate after buying in.
The smart money with smaller capital are more willing to sell out the principal and part of the profit after the token rises, and then distribute the selling, but will always keep a portion of the holdings, in order to let the bullets fly for a while. Overall, the operations of these smart money can be summarized as a mature trading strategy based on probability, combined with some rare luck.
However, for ordinary users with not so large capital, due to the high cost of trial and error, the operation style of these smart money is actually not suitable for copy trading. Blindly following the smart money is not as good as becoming the smart money yourself.
