By Neo ABMedia
In the period of VC coin decline, on-chain on-chain meme has become a new battlefield in the crypto. CryptoD, the founder of 1000X GEM, which focuses on on-chain transactions, became famous for his single coin profit of 17 million US dollars during the Trump Coin Hour. The research scope of the 1000X GEM community ranges from AI agent research that requires technical background to meme coins with trading narratives. How do these on-chain traders decide to take action and leave, how do they screen targets, and what is their daily routine when they sit and scan the chain? ABMedia interviewed CryptoD and asked him to share his experience along the way.
In the period of VC coin decline, on-chain on-chain meme has become a new battlefield in the crypto. CryptoD, the founder of 1000X GEM, which focuses on on-chain transactions, became famous for his single coin profit of 17 million US dollars during the Trump Coin Hour. The research scope of the 1000X GEM community ranges from AI agent research that requires technical background to meme coins with trading narratives. How do these on-chain traders decide to take action and leave, how do they screen targets, and what is their daily routine when they sit and scan the chain? ABMedia interviewed CryptoD and asked him to share his experience along the way.
What is a dead-sweep chain? Unraveling the vast amount of information and finding the truly useful parts
Q: I would like to ask Devin to share what his daily schedule is like? For non-chain on-chain meme, it may be difficult to imagine what the life of a bot is like, the approximate working hours and time periods, etc. I often hear people say "sitting and sweeping the chain", what does it mean?
CryptoD: First of all, I am a full-time on-chain trader and I don’t have a web2 job, which allows me to focus all my attention on the chain and the community, usually spending about 15 hours a day in front of the computer. I have always believed that "where the attention is, the harvest is there."
I tend to be a night owl, usually going to bed at dawn and waking up in the afternoon. After waking up, I will first open the popular page of gmgn and quickly check if there are any new narratives or large MC memecoin that appeared during my sleep. Then I will check the status of my community and observe what the group members are discussing, and finally check the information on Twitter.
From the macro environment (such as what policies Trump announced and what the FOMC said) to the micro level of a few hours, which new CAs with higher market capitalizations appear, what the narrative is, and whether anyone is discussing it on Twitter, we can quickly go through a round.
As for "chain scanning", the definition of this term is actually getting broader and broader. Early chain scanning may just focus on new CAs, but for me, chain scanning now also includes filtering chat content in social groups, browsing Twitter information, and even building and maintaining a smart wallet database of my own. The integration and analysis of this information are all "chain scanning", that is, unraveling the massive amount of information and finding the truly useful parts.
Focus on breakout potential and emotional narratives. Position size varies depending on market value at the time of purchase.
Q: Can you share your general workflow? There may be hundreds or even thousands of meme coins released in a day. How does CryptoD select the coins and decide the size of the position?
CryptoD: As I mentioned, the so-called "scanning the chain and sitting" is not really sitting in a daze, but focusing on filtering social chat content, browsing Twitter information, and even organizing and maintaining a smart wallet database of your own during this period of time. The integration and analysis of this information are all part of scanning the chain, that is, unraveling a large amount of information to find the truly valuable information.
Although tens of thousands of new coins are created every day, there are actually very few that are really worth buying. Sometimes there is not even one in a day. As for which coin I will choose, it mainly depends on the information screening method mentioned above to find narratives that have the potential to "go viral" or can trigger emotional resonance.
To me, the definition of going viral is a narrative that can attract the attention of web2 players and get them to enter the market. The most classic example is Elon's DOGE. With his influence in web2, he made many people buy $DOGE because they believed in Elon. A more recent example is $MOODENG. At that time, Hippo was almost the top traffic flow, and the number of views on major web2 social platforms may exceed billions; and the most recent $TRUMP, a meme coin issued by the President of the United States, is the most influential narrative of going viral so far.
The narrative of "inducing emotions" is even broader, because emotions are subjective, and not everyone will have the same feelings. A classic example is UFD, a foreign blogger who deals with gold and precious metals publicly mocked memes, but was used by others to issue meme coins. I think most people who speculate in coins are a bit rebellious. The more they are looked down upon, the more they want to prove themselves to others. UFD successfully captured this "fight against Old Money" emotion at the time and achieved good performance.
As for the allocation of positions, I will decide how much I invest based on the market value of the coin when I discover it. Usually, I will take about 0.2% to 1% of the total amount of the token. For example, if the market value at the time of discovery is $1 million, I will invest about $2,000 to $10,000; if the market value is $10 million, the investment amount may range from $20,000 to $100,000.
How can a novice cultivate a meme worldview? Join multiple communities and learn from practice
Q: I first noticed CryptoD before Trump, and I knew that 1000 GEM was very famous for AI agent-related research. I would like to ask how Devin analyzes projects when doing AI agent research? Are there any entry points that are relatively low-threshold but necessary for novices?
CryptoD: The AI Meta period was also the time when my community grew the fastest. I don’t have an engineering background, but some of my old group members happened to be engaged in related technical work in web2. They can understand the code and even judge the technical content behind each AI Agent. This saved us a lot of effort when screening targets.
So for me, I just need to trust the research results of my group members, and then evaluate the market value of Longyi in the current AI narrative and the market value gap between it and other AI projects we are paying attention to, so as to determine whether it is worth entering the market and how much position to enter.
For beginners, it may take a very long time to explore the entry point from scratch. I think a faster and more effective way is to "join multiple communities" and try to understand the attributes, culture, and expertise and strengths of each community. Some people's CAs can be ignored without even looking at them; but for some people, as long as they issue a CA, there must be logic and judgment behind it, which is worth further study.
Therefore, instead of cultivating a meme worldview from scratch, I recommend that newbies join several communities, observe and learn from experienced players, and learn from practice. This will be a faster and more effective way.
Q: Currently, there are two types of meme speculation: looking at data and looking at narratives. I would like to ask CryptoD which one he focuses on more? As far as I know, the so-called smart money and insider addresses seem to be fake, but does finding the angle depend on talent?
CryptoD: I tend to be a narrative person. As for data or insider addresses, there are many tools now. For example, gmgn can tell the clues at a glance, and basically no one will be fooled easily. Some CAs are designed to cheat people as soon as you click in.
As for how to define "smart money", I think it depends on your perspective. In a broad sense, smart money refers to those wallets that have made a lot of money in the past. But the point is that you need to further observe the attributes of each smart wallet. Some are high-frequency PVP players, and some are even copycats. The most suitable reference is the "diamond hand" type of smart wallet, who can firmly hold on to a narrative after seeing it and finally get a huge return.
So when I build my own smart wallet database, I will classify each address, which helps me judge the authenticity and potential of the narrative more quickly when scanning the chain. As for "finding a narrative angle", I agree that part of it is talent. Some people are born with a more humorous and unique observation, and they can always see which targets in the market have potential first.
But I think this can also be cultivated. As long as you stay in the market long enough, and review every day why those large MC memecoin become large MC memecoin, what is the reason behind it? Is it simply a good narrative? Or is it because of a specific person's support? Over time, this information will accumulate into a part of your subconscious mind and become the basis for you to judge whether a CA has the opportunity to become a large MC memecoin.
How to choose coins with the same name? Following the Matthew effect, the strong will always be strong
Q: There is a common problem with celebrity coins/animal coins. There are too many coins with the same name. How to choose? Or the liquidity is too dispersed and the coin is not listed.
Celebrity coins usually don’t have too many problems with the same name, because only the CA released by the celebrity through official social media will be considered as the real Dragon One. The Dragon One identification criteria for this type of coin is very clear, and it is not easy to confuse the market.
As for Animal Coin, it is common for multiple coins to coexist in the early stages, but as time goes by and the community gradually takes shape, funds will naturally flow to OG tokens that were established earlier, have the highest market value, the largest liquidity pool, and the most active community. Only such projects have the opportunity to stand out and become the first.
(Which one should I buy in the BROCCOLI chaos! After CZ announced the new pet name, there was a hundred schools of thought on meme coins, and a list of CAs that are expected to be listed)
99.9% of meme coins will eventually return to zero, and novices are advised to double their capital
Q: It is often said that selling is harder than buying. I would like to ask how Devin usually decides to sell? After all, many coins may have a peak of 20~40M, and it is definitely a minority to be able to get close to 1B.
CryptoD: Stop profit is definitely a big deal. For beginners, I always recommend "double your investment" because the market is extremely volatile and 99.9% of on-chain meme coins will eventually return to zero. We cannot control the market, we can only control our positions and risks.
As for when I will choose to sell most of my positions, I think it depends on the current market environment. If there is no currency that can break through 10M in the market for several weeks, then I should adjust my psychological expectations. Even if I am very optimistic about a certain narrative, I should operate conservatively according to the environment. In this case, after selling the book, I will observe the K-line trend, changes in the community atmosphere, and whether the growth rate of the number of holder addresses slows down to determine whether to gradually reduce my positions.
When Web3 loses its new narrative, Meme coins become the result of accumulated emotions
Q: Since last year's WIF and BOME, the meme season seems to have passed for a year. It can even be said that meme coins are the theme of this cycle. Devin, do you think this meme season is over for the time being? And how do you think the future cycle will run?
CryptoD: I think the reason why meme coins are so popular in this round is because it is the result of accumulated emotions over the past decade. In addition to BTC and a few L1 smart contracts, there has been no new narrative in the crypto for a long time. Many seemingly high-end VC coins are ultimately just harvesting liquidity from Web3. Because of this, memecoin, as a more grassroots and fairer launch option, naturally received a lot of market attention.
When people began to realize that Web3 did not really change the world, memecoin became the main outlet for funds and emotions. Of course, if Web3 once again has truly innovative or persuasive new narratives in the future, the market's attention may be diverted from meme coins.
After the emotions, will meme coins leave a cultural legacy?
Q: Is "a stock being shill by a specific KOL" a narrative? How is it different from other narratives?
CryptoD: I think it is more accurate to say that it is just an emotional explosion. A meme mentioned, replied or retweeted by a key person can indeed trigger a short-term FOMO emotion. But the real key is: after the emotion, whether this meme leaves a culture, and how many people are willing to continue to hold it after the FOMO emotion fades away because of the emotion conveyed by this meme and the centripetal force of the community. Not for anything else, just because this is a collective memory worth participating in.
Innovation and first principles are always the core of the market
Q: Recently, there has been a rise in chains focusing on DeFi, such as Berachain and Sonic. Is Devin optimistic about the combination of meme coins and DeFi?
CryptoD: I have noticed that many people in my community are very enthusiastic about Sonic's DeFi recently, but because I participated in the DeFi Summer in 2021, if I still play the old-fashioned games of the previous round, it is actually not very attractive to me. However, I will continue to pay attention to the development of these projects. If there are really new ideas or creative games, I will still consider allocating some funds to enter the market. After all, innovation and first principles are always the core of this market.
