BALL Goes Viral, But Transparency Raises Doubts
On the morning of June 3rd, a sudden market movement emerged on the Solana chain - Powerball (BALL).
CA: BALLrveijbhu42QaS2XW1pRBYfMji73bGeYJghUvQs6y
This token, focused on "on-chain lottery", attracted numerous on-chain gamblers with its "hourly draw" feature. According to GMGN market data, its market cap rose from millions to $19 million (see ① in the image), then plummeted to less than $2 million within hours (see ② in the image), before surging again with FOMO, approaching its previous high (see ③ in the image), like riding an on-chain emotional roller coaster.
The peak occurred on June 3rd at 17:00 (around ① in the image), with a jackpot of 1611.88 SOL (approximately $245,732), won by the address "5qLjEfQtuuspKPfJQjC1xG6KZMEJoWNMBPqp1GGN8K76". However, according to GMGN, this address last purchased other tokens 300 days ago. Upon this news, some community members believed the winner was extremely lucky, while others suspected insider manipulation, triggering a selling wave and causing BALL's price to plummet.
A community user (@real_dr_pump) raised multiple concerns, pointing out that its lottery mechanism is not entirely transparent and not as fully automated as claimed by the official team:
However, the allure of on-chain lottery lies in: when the price is low enough, many people eager to win start "buying the dips", and the snowball rolls again. Even with multiple doubts, while you're criticizing the project, its market cap has rebounded from the low point to $18 million, almost returning to its high.
[The rest of the translation follows the same approach, maintaining the original structure and translating all text while preserving any HTML tags and special formatting.]Personally, due to my recent deep dive into meme on BSC, I'm not very familiar with the market cap and on-chain sentiment of meme on Solana chain. Facing BALL, I experienced "acrophobia" and watched it rise all the way. My colleague Harbour also reminded me: "Not being a new concept doesn't mean it won't rise." Yes, as long as it can trigger emotional resonance and FOMO, combined with the recent on-chain sentiment, estimating its peak market cap doesn't require fear. So to become a professional p junior, one still needs to spend more time sitting quietly, scanning the chain, and continuing to do so. This time, BALL's heat lasted nearly 12 hours, which is considered quite long on-chain.
Odaily Editorial Department Operation Recap
On June 3rd at 12 PM, when BALL had a market cap of $1 million, I shared its CA in a small group. Then I watched BALL rise to nearly $20 million by 4 PM, completely missing the pump. My colleague golem got in at $4 million, exited with a threefold gain.
I subsequently discovered a prior on-chain lottery project LOTTO, getting in at a $170,000 market cap around 4:20 PM on June 3rd. Within less than 10 minutes, it doubled, and I fully exited. Its market cap then surged to $1.7 million, and although I didn't miss the pump, I sold too early.
The BSC copycat ULUCKY was released around 4 PM that day, immediately rising to a $500,000 market cap. Just 15 minutes later, it nearly went to zero. At this point, my colleague Nanqi and I both cut losses and exited, missing the second wave of rise around 11 PM that day, when its market cap once reached $1.8 million. Not buying the dips during this period was truly "slapping our own thighs".
Risk Warning: This article does not constitute investment advice. On-chain meme has extremely high volatility and speculative risk. Please DYOR and participate cautiously. By the time of publication, BALL's heat had dissipated, and similar products were near zero...
