Once you enter the deep sea of meme coins, after 48 hours of on-chain PVP, your consciousness gradually blurs, as if falling from the realm of causal logic into the subconscious realm dominated by uncertainty, rationality is crushed back and forth by the market, and the self becomes small, helpless, and lost, making the whole person feel unwell.
According to Dune panel data, 2zBoK currently launches ~25,000 meme coins daily, successfully listing ~400 on DEX daily, with a launch success rate of ~1.63%. Based on my brief experience, among the ~400 successfully launched meme coins, only a small proportion can break through the $1M market cap threshold. Even if they fortunately break through the $1M market cap, most meme coins' normal lifespan is only 48 hours.
From the above data, we can see that meme coin trading is positioned closer to gambling on the spectrum from gambling to investment. However, unlike the previous generation of on-chain gambling such as dice, slot machines, Crash, and thousand-fold contracts, meme coins are more addictive due to the uncertainty of rewards (odds change unpredictably).
Moreover, the market cap and unrealized profits of meme coins are actually a kind of modern financial sleight of hand. The static actual extractable value of all holders of a certain meme coin is only equal to half of the pool value.
I have statistically analyzed the latest 24-hour hot meme token pool-market cap data, and the pool/market cap ratio distribution is as follows:
Ultra-high ratio (>100%): 5 projects
High ratio (50-100%): 12 projects
Medium ratio (20-50%): 28 projects
Low ratio (<20%): 15 projects
Mainstream pool/market cap ratio between 30% and 60%. The static actual extractable value of all holders of these popular meme coins is only 15%-30% of their market cap.
Of course, unless there are extreme risk events, it is generally not possible for all holders to redeem simultaneously. Holders can dynamically exit from an actively traded market state after paying gas fees + priority fees + slippage and other comprehensive trading costs.
Considering the above reasons, the trading patterns of meme coins differ significantly from other markets. As newcomers just stepping into the meme coin battlefield, rather than spending a lot of time, energy, and funds to train our own meme coin trading framework, we might as well adopt the 'borrowing approach' to directly reference the trading framework of on-chain PVP emperors.
I selected 8 on-chain emperor addresses from the 7-day yield leaderboard of the gmgn platform based on high yield and high trading frequency. Then I fed their trading data to an AI Agent I created to analyze each address's trading pattern. Here are the analysis results:
Trading mode of address 2zBoK
1. Trading Time Features
Active period: all-weather trading
High-frequency trading characteristics: one transaction every 3-5 minutes
Position building rhythm: quick batch building
Liquidation characteristics: stepwise reduction
2. Operation Technique Characteristics
Entry Strategy: Prioritize seizing new coins at first listing, focus on high liquidity coins, capture market panic bottoms, track hot coin trends
Exit strategy: 30% profit quick return, 50% profit reduce position, 100% profit clear floating stock, reserve 10% for deep pullback supplementary position
3. Capital Management Model
Position control: main position: 20-30%
Total capital speculation position: 5-10% of total capital
Supplementary funds: 15-20% reserves
Emergency liquidity: >30%
Trading mode of address 52dq6
1. Trading Frequency Characteristics
High-frequency traders: average 39.3 transactions per day
Trading time distribution: all-weather trading
Maximum continuous trading on a single project: 11 times (CHAOS)
Transaction interval: average 15-20 minutes per transaction
2. Asset Selection Strategy
Key focus tokens:
CHAOS (multiple large transactions)
Continuous Trading
BIOCHAD (high profit target)
GRIMES (high volatility asset)
Trading characteristics: tend to large-cap Tokens, focus on high liquidity assets, track hot coin trends, prioritize well-known projects
3. Capital Management Strategy
Position control:
Standard position: $300-500
Key projects: $1000-3000
Exploratory position: $100-200
Follow-up position: $500-1000
Stop-loss strategy:
Quick stop-loss: -15%
Ordinary stop-loss: -30%
Maximum stop-loss: -50%
Trading mode of address 4Ye7c
1. Trade Features
Trading rhythm: concentrated trading
Time period: 8-22 o'clock
A single variety can be traded continuously for a maximum of: 8 times
Average trading interval: 15-25 minutes
Trading frequency stable, unaffected by market fluctuations
Asset selection:
Key focus: altGz, degenai, SPOOKYKAT, etc.
Look for opportunities mainly in medium market cap tokens
Tendency to prefer more liquid assets
Avoid extremely low market cap tokens
2. Capital Management Strategy
Entry characteristics
Initial position amount: $500-1000
Add position conditions:
Add position after price rises by 10%
Add position when volume increases
Add position at breakthrough key locations
Position Building Rhythm:
Complete position building in 3-5 times
Single added position not exceeding 50% of initial position
Total position controlled within 30%
Exit characteristics
Profit-taking:
Start reducing positions at 30% profit
50% profit reduce position
100% profit clear floating stock
Stop-loss setting:
Single stop-loss: -15%
Total position stop-loss: -25%
Floating loss exceeds 30%
Forced liquidation address
Trading mode of BieeZ
1. Trade Feature Analysis
Asset selection characteristics:
Key focus tokens: TAY (multiple large transactions), TOKIDOKI (high liquidity asset), ruby (batch position building asset), VITARDIO (high volatility asset)
Trading Frequency Characteristics
Ultra-high frequency traders
Average every 6-15 minutes one transaction
A single asset can be traded continuously for a maximum of 5-8 times
All-weather trading, no significant time preference
2. Operation Strategy Analysis
Entry Strategy
Initial position characteristics scale: $800-1200
Timing: Breakthrough or steady rebound
Method: Quick batch
Verification: Transaction volume correlation
Add position strategy
Profit-add position: 10% profit level
Add position at retracement: 5-8% retracement level
Add position at breakthrough: key resistance level
Maximum number of added positions: 3-4 times
Exit strategy
Profit-taking setting
First profit-taking: 30-50%
Batch reduction: every increase of 20%
Final profit-taking: 150-200%
Retain position: 10-20%
Stop-loss setting
Single stop-loss: -8%
Total position stop-loss: -15%
Floating profit stop-loss: retracement exceeds 30%
Time Stop-Loss: 15 minutes without profit
Trading mode of address 2vfEa
1. Trade Features
Asset selection characteristics
Core focus tokens:
DREAM (main trading target) WOFAI (secondary trading target) WIFE (auxiliary trading target) ANTDOG (strategy verification target)
Trading strategy characteristics
Concentration strategy highly focused on DREAM tokens
Deeply involved in a single asset
Long-term tracking holding
Batch position building and reduction
Position management
Single transaction scale: $500-2500
Maximum holding ratio: 60%
Add position ratio: 30-50%
Reduction ratio: 20-30%
2. Operation Mode Analysis
Entry characteristics
Initial position building:
Moderate scale ($500-1000) batch position building (3-5 times)
Focus on price structure
Focus on transaction volume
Add position strategy:
Add position after breakthrough confirmation
Add position at steady rebound
Volume correlation for adding positions
Trend continuation add position
Exit characteristics
Profit-taking strategy:
Segmented profit-taking
Retain core position
Trailing profit-taking
Swing operation
Trading mode of address 57hdD
1. Trade Features
Asset selection characteristics
Extremely concentrated on ZENO tokens
Deeply involved in a single asset
Follow core assets throughout
Avoid diversification of investments
Trading pattern characteristics
Position building characteristics
Starting position: $200-500
Add position rhythm: increase once every 20% rise
Add position ratio: 30-50%
Maximum single transaction: around $2,000
Time distribution holding period: 4-5 days
Trading period: concentrated in Asian time
Operation frequency: observe every 1-2 hours
Decision speed: fast and accurate
2. Strategy Analysis
Entry Strategy:
Price feature breakthrough previous high
Significantly increased volume
Steady rebound
Chip concentration
Position building method:
Small position trial
Add position after confirmation
Batch position building
Dynamic adjustment
Exit strategy:
Profit-taking set segmented profit-taking
Rolling hold
Retain seed position
Dynamic adjustment
Stop-loss design:
Single stop-loss: -10%
Total position stop-loss: -20%
Floating profit stop-loss: -30%
Time stop-loss: 2 days without increase
Trading mode of address DVLTL
1. Trade Feature Analysis
① Asset Selection Characteristics
Trading tokens:
WSOL (large transaction);
CLNKER (high-frequency operation);
USDC (liquidity management);
EVE (swing operation)
② Operation Mode Characteristics
Capital management large order operation: $3,000-8,000;
Exploratory operation: $80-300
Average holding: $500-1,500;
Liquidity reserve: >30%;
③ Time Management
Holding period: 1-3 days;
Transaction interval: 4-6 hours
Observation period: continuous monitoring
Decision time: fast
2. Strategy Analysis
① Entry Characteristics
Fundamental selection project fundamentals
Liquidity analysis
Capital direction
Market sentiment
Technical judgment trend confirmation
Volume-price correlation
Support and resistance
Market structure
Capital Management Strategy
Position control main position: 30-40%
Swing position: 10-20%
Exploratory position: 5-10%
Reserved funds: >30%
Risk Control
Single stop-loss: 15%
Total position stop-loss: 25%
Floating profit protection: 30%
Composite risk: 40%
Trading mode of address 7sKVa
1. Trade Features
Operational style
High-frequency small amount frequent trading
Small position building
Quick liquidation
Dynamic adjustment
Multi-currency rotation
MOSHI (main force)
Maxwell series
JUKEBOX
Roblox
Trading strategy characteristics
Time management all-weather trading
Average every 13 minutes one transaction
Concentrated trading period
Flexible adjustment
Capital Management
Single transaction limit: $200-400
Total position: <30%
Reserved funds: >50% dynamic balance
2. Strategy Analysis
① Entry characteristics
Technical selection for hourly-level breakthroughs; volume-price correlation; support and resistance; trend confirmation
② Position Building Method
Exploratory position building; batch adding positions; dynamic adjustment; timely stop-loss
③ Exit Strategy
Profit-taking set gradient profit-taking; wave exit; trend tracking; dynamic adjustment
Stop-loss control single stop-loss: 10%; intraday stop-loss: 20%; total position stop-loss: 30%; time stop-loss: 2 hours
We can see that these meme coin chain kings exhibit very diverse trading patterns, each with its unique advantages:
High-frequency trading type (4Ye7c, 7sKVa):
Advantages: Capture more short-term opportunities
Challenge: Requires strong execution power and system support
Value investment type (DVLTL, 57hdD):
Advantages: More controllable risk, less pressure
Challenge: Requires strong patience and research ability
Balanced type (BieeZ, 9X2hv):
Advantages: Better risk-return ratio
Challenge: Requires a balance of multiple capabilities
The above is an analysis of the trading patterns of meme kings on-chain. However, due to limited samples and a short time frame, we cannot yet determine whether their success is due to their luck or their trading patterns. Finally, a bit of additional data: the correlation between pool size and market cap is 0.83, and the average daily trading volume/pool ratio is 0.73.
High-value meme coins have three characteristics:
Reasonable pool ratio (30-60%)
Stable trading activity
Healthy token distribution (Top 10 holdings at 10%-15%)
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