👉 Intro: At the beginning of 01/Nov/2024, a new hippo was launched in Sisaket named Homdaeng on the ticker or the English abbreviation is #HOMDAENG. Therefore, a new coin was created from “air” without any support on the platform called Pump dot Fun.

https://solscan.io/tx/29EvtzeBdhs8DfmGRpDq4KFRYPDAfUeJpHxJGgiTxnrKq2SbuCMzqQcoSPpMrsBPq9s6vyXdTKN1paN1NmzdjsPK

HOMDAENG creator wallet:

https://solscan.io/account/3STokWB25njqvjFxkZcLdWV14XoNAF9Gjjg7NbgJBsrz

The coin creator transferred approximately 0.43 SOL from the Bitkub Exchange in Thailand, indicating that the Devs team is likely Thai.

Wallet: CqLu65KkFvGi3DUrR9o9aUC4LP2yUywFHZn8WoNLNVgy
https://platform.arkhamintelligence.com/explorer/tx/51c5vNgzFdq1hPEQpKzEVkAUudgAdZfYB6CEQh2ZzhuHKJBGnN6ZsYA79LfQALRxnFkV8VcgL5yqYnYV6JJFL6K2

Send SOL from Bitkub: Hot Wallet (CqLu6)

👉 I mentioned in my previous tweet that “about @pumpdotfun’s Bonding Curve, it’s not rugpullable (that much).

This refers to the Devs / Development team, but overall, it is still risky.

👉 Let me explain the mechanism first. Pump dot Fun is a platform for listing coins on the board in the form of a DEX (Decentralized Exchange).

The conditions of this platform are as follows:

• When a new coin is created, the coin pair will be a “meme coin” < → Solana

(Simple example: Take a stone and go sell it at the market. The stone is exchanged for yen. The first group of people buy it first, buy it cheaper. When people buy the stone, the later group buys it at a higher price. And when the first group of people buy it, they get it.)

• When the Market Cap of the coin is more than $69,000 (approximately 2.28 million baht), the contract of the coin pair will be transferred to Raydium, the world's Top DEX on the Solana chain.

• Contract This transfer of Liquidity or liquidity here is called Bonding Curve.

• Bonding Curve will “force” the transfer of liquidity of the coin pair to Raydium, where the creator of the meme coin from the beginning cannot withdraw the contract or withdraw the money.

• What does it mean? Devs will no longer be able to “Rugpull” directly because they are “forced” by the Pump dot Fun Smart Contract… i.e., if the market cap is $1M, if it is liquidity in other places in general, it means that almost the entire $1M can be withdrawn (roughly, this is about it for now).

👉 What should I do if my team is going to cheat or steal money?

The method is when the coin is created, it will take other wallets to buy in the first 5 minutes, first 1 hour before others, or called "the owner".

On our side, the ones who snatch (the future injured ones, lol) have to look at how many big coin holders there are. There is no clear criteria. If a whale holds 1% of all coins, one wallet at a time, it could be 90+ wallets belonging to the same whale/devs.

👉 How risky is Pump Dot Fun?


It's extremely risky, with a 99.9999% chance of losing. Anyone can create coins, whenever, however much. Devs/Insiders are ready to pour money into you.

One day, there should be about tens of thousands of projects created per day. Simply put, it is a good casino.


If the statistics are 15 projects that reach 10M USD Market Cap from 17 million projects, it is a chance that you will win 0.0000088% or 1 in 113,333 projects to survive (this means 100 bounces, 1,000 bounces).

But if you want to enter Pump dot Fun to have fun, throw money and lose, maybe flip 2-3 coins, get your investment back, then let the profit go on, this is another story.

👉 So what time will you be rich?

“Cryptocurrencies and digital tokens are highly risky. You may lose all your investment. Please study and invest according to your acceptable risk level.”

If you have ever read about Game Theory, you may understand some of these things. Or the group of people who are ready to be rich. Every day 1 and 16, it is a risk that we just hope for a little bit. But not everyone will be rich. This is known, right?

👉 Why HOMDAENG? 🦛

I think if you've read this far, you should know how risky it is.

In the early stages of the coin, if HODLers (people who hold the coin, especially the early ones) buy and hold too much, it will become a whale group, and the insider group will not survive.

But if the coins are distributed to small investors, holding enough, we will get “community power” or Power of Friendship to help push or send news to people all over the world to know about Little Hom Daeng.

👉 Thai Love Thai or Thai Rug Thai?

I have looked at the contract for money transfer on On-Chain. There is an export from Bitkub. Actually, if I think about it, if it is the number 1 CEX in Thailand, it should be enough. Who transferred the money out? If there is a transaction that suggests fraud, they will definitely be found.

(Don't forget, the owner of the#MOODENGcoin is not Thai. 🇹🇭)

I think if:

The creator is a Good Actor + good enough coin distribution = we might see it spread outside of Thailand and become a worldwide trend ?!

The creator is a bad actor + bad distribution of coins, concentrated = definitely a big failure.

👉 What about 🦛 HOMDAENG (Shallot) and the coin price on the 1 Day timeframe?

I think the price is increasing too fast and when the trend goes up, it goes up and down, it goes down too. It's definitely scary and risky.

People who saw the original price / big whales / or Insider teams came first and got much cheaper prices.

One day, Market Cap reached 1 million USD, meaning it is the Top 41 out of 1.7 million projects (in statistics! 0.000024% or 1 out of 41,463 projects that cracked a million). So that means it went up too fast.


(In parentheses, it means it must be in place for multiple weeks, not just within a single day.)

Thai Rak Thai already? I was trying to organize a 3-page A4 article about Pump Dot Fun. It's almost 2am. 😢

Top 3 Wallets That Were the Worst Day 1:

htwXq
$10.33K + $7,550.27
https://solscan.io/tx/4J7s9bVq2xC2XUrHNP4xyT7SvFxMQ6aejf94rT8oTqKKufYgoxv2iJBC189Nihyz5A5SKc7WwHLkiwYYWHdSp1Et

3hwjp
$7,960.61
https://solscan.io/tx/4petjF8NdruJYBeFzDQgJ3A2FaCPFQNAf7pJrku3ZFrMei5mFJxAAeuxQkTwxuK9zVcvVkQJZxFhJDipgqkpdjrQ

1uiLp
$6,419.39
https://solscan.io/tx/3PuMsT4TwLRh17Y1s7bokzCFuC2n531gjy4RgGsF7J7zvrqcpVjhmw8kCRULB5yBsmwqynurQMZXB2naSd7NqLrx

👉 In conclusion, it depends on the power of the community / the original hand / the whale and the trend.
Good good

And finally, don't trust people on the internet too much, including myself, and manage your risks well.

If you want to understand more about Memecoin, you should watch the videos that I have mentioned before, such as the topics: “What is a successful meme coin?” / “The true utility of meme coins” / “All in all & How to value meme coins (?)” etc.

https://web.facebook.com/watch/?v=7250217538436783

https://x.com/EarthDeFIRE/status/1841720231913521279

Photo credit:#bastillebtc/ #boldleonidas

“Cryptocurrencies and digital tokens are highly risky. You may lose all your investment. Please study and invest according to your acceptable risk level.”

#EarthDeFIRE Report 03/11/2024