Hello everyone, I am Jiang Nan, a person who works hard to live and explore Web3 every day.
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In 2024, with the hot wave of the crypto market, especially the craze of MEME, the whole circle seems to be burning with an irrepressible enthusiasm. Everyone is chasing the dream of getting rich quickly. The discussions in the group are full of myths of "hundred times" and "thousand times" from morning to night, and the FOMO mood is overwhelming. Whether it is a veteran in the circle or a novice outside the circle, they all want to achieve financial freedom overnight. However, hidden behind this craze is the staggering high risk of dog trading.
Thousands of new coins are issued every day, and the market is flooded with countless contract addresses. If you don't do your homework in advance and rush in blindly, you may only end up with a "zero" fate. Why can some people easily double their money as soon as they enter the market, while you are harvested as soon as you enter the market? Why can other people's coins increase by dozens of times, while yours become dead coins?
In this ever-changing and game-filled market, only if you understand the rules and master the tools can you seize the real opportunities. Even if you catch them, if you are not mentally stable, you can only sell them hastily like paper hands, missing out on further potential, rather than diamond hands that stick to the end.
Today, I will explain to you the common terms and important tools in the field of local dogs to help you avoid being harvested and go further in this game full of variables.
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## MEME noun analysis
Do you also watch others rushing to the local dog dozens or thousands of times, but you can't even understand the common terms? Are the terms such as pool, PVP, internal disk, external disk, and Pixiu confusing to you? Don't worry, I will explain these common terms one by one for you below.
1. MEME concept: A token that originally had no actual value but quickly became popular through the spread of the Internet. The most famous examples include DOGE, SHIB and PEPE.
2. Local dog: usually refers to newly issued MEMEs without community cultural support, which are extremely risky and may go to zero in one wave. If there is a certain amount of community support, it will grow into a MEME, such as Hippo MOODENG, Zoo KHEOWZOO, etc.
3. Golden Dog: refers to a local dog with huge potential, whose market value has reached millions or even tens of millions, and can soar by more than a hundred times in the short term.
4. Pixiu: A scam, you can only buy but not sell. The project owner has designed a trap to make you lose money as soon as you enter the market. (Equivalent to fraud)
5. RUG: The project owner withdraws the funds from the pool and runs away, which is similar to Pixiu, and is a fraud.
6. Internal market: refers to the tokens that are being prepared and preheated within the platform and have not yet been launched (usually 100% progress). For example, the so-called Pump internal market is to raise funds for token liquidity after the tokens are deployed on the Pump platform. The advantage is that there will be no Pixiu and RUG risks (getting chips at cost price)
7. External market: refers to those tokens that have successfully filled the internal market, and have been successfully launched and listed on decentralized exchanges DEX (such as Radium, Uniswap, etc.)
8. PVP: It stands for Player vs. Player in English. It is a game between players. Those who run fast cut off those who run slowly. When new players and new funds do not enter the market, they cut off each other. The risk is especially high.
9. FOMO, FUD: FOMO refers to the frenzy of entry when market sentiment is high, while FUD refers to the selling spree during panic.
10. Diamond Hand/Paper Hand: Diamond Hand is a firm holder who holds on to the stock without selling, while Paper Hand is a person who rushes to sell as soon as the price goes up a little.
11. Clamp: A trading technique where the MEV robot buys ahead of you and sells quickly, causing you to buy at a higher price than expected, commonly seen in dog trading.
12. Angle: refers to the basis for judging when ambushing a certain token, such as predicting the market reaction to a certain event. For example, a few days ago, someone ambushed free cz in advance, with the angle that there might be hype expectations when CZ is released from prison.
13. Honeypot: "Honeypot" is a bait strategy used to lure traders; "Pixiu" is a mythical beast from Chinese mythology, which has the characteristics of eating but not defecating. The two names are similar. The honeypot/Pixiu we often mention when trading on Tugou Meme mostly refers to the situation in which the contract can only be bought but not sold, or the situation where there is a blacklisted address.
Just look at the trend in the picture below, which is clearly the trend of the Ponzi scheme. The traders keep pushing up the price to attract users to buy. In fact, you have already lost money the moment you buy, and you cannot sell it, just like a Pi Xiu!
14. Withdrawal from the pool: Project parties often provide a large amount of funds in the liquidity pool to create a formal and reliable appearance, but if the project party suddenly withdraws the funds in the liquidity pool, there will be insufficient liquidity in the pool and transactions will not be possible. Therefore, when buying, you must check whether the liquidity is locked. If there is no LP locked position, then the project party can run away at any time, so you must buy coins that lock LP.
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## How to Identify a Conspiracy Group
In recent months, the term "cabal group" has quickly become popular in the crypto community, especially when public figures such as Musk and Trump tweet, we often see a bunch of robots quickly deploying tokens of the same name and adding liquidity to them to attract investors who are unaware of the truth to buy. The tokens of these conspiracy groups are spread across major public chains, whether it is Solana, Ethereum, or Base Chain, their traces can be seen.
The real purpose of these conspiracy groups is simple, which is to make money quickly. Since the cost of issuing coins is extremely low, the loss of gas fees is almost negligible, so no matter how the token performs in the future, the project party is almost guaranteed to make a profit. As an investor, if you buy at a high price, you will often find that these coins lack community consensus, and the price will quickly return to zero after a short rise; if you buy at a lower price, you may be able to profit from the fluctuations in the PVP market.
So, how to identify the currencies of these conspiracy groups? This is a key question. You need to analyze from multiple dimensions, including the distribution of token holdings, creation time, developer address (Dev Address), holding portrait, etc. With this information, you can preliminarily determine whether a token is the product of a conspiracy group.
Fortunately, we don’t rely solely on our eyes and experience to judge. As mentioned above, the DEXX tool has a powerful contract detection function that can help you quickly identify potential risks and avoid blind investment. Using this tool can help you filter out some low-quality tokens and avoid making low-level mistakes.
Remember, in the crypto world, staying rational and using your tools are the keys to success.
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Summarize
To invest in Earth Dog, you must not only understand the nouns, but also grasp the market hot spots. For example, Musk's tweets and the formation of hot narratives usually indicate the birth of Golden Dog. Remember, the risks in the primary market are much greater than those in the secondary market. Every newbie should think twice before rushing in and operate with caution.
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