Original | Odaily Planet Daily (@OdailyChina)
Author | Nanzi (@Assassin_Malvo)
In the MEME market, in addition to narrative + community as the core driving force, there is also a type of token controlled by the "Cabal". The manipulators of such tokens accumulate early tokens through insider wallets, and cooperate with volume brushing, price manipulation, and multi-wallet control of trends to cash out at the high point and profit.
The author previously found that when exploring the early wallets of MOODENG and ACT, the number of independent addresses of early MOODENG traders was far lower than normal, and there were several insider addresses in ACT that had never purchased any tokens before, and the single-token profit of ACT was tens of thousands of dollars after cashing out. (See "MEME Concept Review: AI, Artists, Zoos and My World")
Therefore, this article will explore whether there are any reference rules by comparing the situations of "early independent address number", "fund source of TOP profit" and "new wallet ratio" of some Solana top tokens and zero-value tokens.
Basic Situation
Research Objects
The top tokens involved in this article include Pnut, MOODENG, ACT, Fart, LUCE, BARSIK, Fred, Rif, MemesAI, BUCK, LESTER, scihub, vvaifu, Banana, and fur, a total of fifteen tokens, all from pump.fun.
The zero-value tokens involved in this article include 🦅, PNUTNI, qnn, CLIP, TOGA, Pythia, ૮⍝•, RST, nounsfctry, $bot, a total of ten tokens, with a peak market value of millions of dollars and then falling back.
The TOP 100 addresses of the above 25 tokens were counted.
Data Source
This article uses the statistics of GMGN, and the data of early traders comes from "Token Interface-Activity-Reverse Time Order", with the first 2,000 transactions of each token counted.
The fund source and wallet creation time come from "GMGN Token Interface-Traders-All-Total Profit Descending Order".
The token creation time comes from the pump.fun front-end API, and wallets with "token creation time-wallet creation time" less than 24 hours are considered new wallets.
Exploring the Rules
Early Independent Address Number
The early independent address numbers of each token are shown in the figure below. From the average, the difference between the two is not large, among which Pnut, Moodeng, Rif, MemesAI and PNUTNI are clearly deviated from the average, most of which belong to the top token category, and "fewer early independent addresses" may be one of the signals of insider information.
Fund Source
The fund sources of the TOP 100 profitable wallets of the top tokens and zero-value tokens are shown in the following two figures. From the average, the proportion of the profitable addresses of the top tokens coming from exchanges is slightly higher than that of the zero-value tokens, but the gap is not large.
However, there is a significant rule that the proportion of the profitable addresses of the top tokens coming from Coinbase and Bybit is significantly higher than that of the zero-value tokens, while the proportion of the profitable addresses of the zero-value tokens coming from Binance and OKX is significantly higher than that of the top tokens.
Fund Source of TOP Profitable Addresses of Top Tokens
Fund Source of TOP Profitable Addresses of Zero-Value Tokens
New Wallet Ratio
The new wallet situation of the TOP 100 profitable addresses of the top tokens is as follows, with only 22 out of 1,500 addresses being new wallets, with no obvious rules. Therefore, at most it can only be said that "the manipulator's early control wallets will not hold to the top, but will change hands to other addresses during the process", but it is difficult to be a sufficient condition for the rise.
Recommended Reading
Meme Training Manual: Rebirth of the Diamond Hand Series: One, Two, Three, Four
Diamond Hand, High Profit-Loss Ratio? What is the key to winning Solana MEME trading?
