Original author: Ansem, crypto KOL
원문: 펠릭스, PANews
Memecoin, the conspiracy, and whales have been discussed for a while now, so I wanted to provide some context.
There are three elements to issuing altcoins directly on DEX without venture capital support:
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development team
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Sniper
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Whale (TBD)
The degree to which these three are intertwined and repeated varies from token to token, but a good combination of all three is needed for a token鈥檚 performance to remain healthy in the long term.
development team
Each development team has a different level of decentralization and organization. On pump.fun, the development team is essentially just one person, with a photo and a caption. On the other hand, a team like BONK is very organized and has some of the smartest active traders on Solana. Both types of teams can do well, but the long-term success of a project depends on two other factors (snipers and whales).
The advantage of organized development teams is that they usually have a budget set aside for marketing and future development, so these tokens are more utility than memes from pump.fun. bonkbot is a good example, other fully decentralized memes dont have such products because they dont have financial support. Another example is MEW, which was able to airdrop a large amount of supply to all BONK and WIF holders. These teams also usually have easy access to market makers and easy listing on exchanges.
On the other hand, fully decentralized teams usually start with a low market cap because there is no financial support from all parties. These teams usually do a good job of forming enthusiastic communities early on because the cost of early entrants is extremely low and the supply of all tokens is widely distributed. The best examples are WIF and MICHI, which have very active communities and very low market caps at the time of issuance. The risk of these tokens is that, in general, they are more likely to fail early on because all the snipers want to exit as soon as possible, and there are no whales or teams interested in the long-term development of the project.
Sniper
For snipers, they usually dont care what the project is, they just want to be the first to buy, and if there is enough liquidity to exit, they will exit immediately. Many projects without an organized team have failed because of this. If they snipe a large number of tokens at the time of issuance, they will sell them and the price of the currency will be smashed.
The ETHWIF derivative launched a few months ago is a good example of this, with many wallets buying the token immediately after its release and selling it a few hours later for six-figure gains or losses.
90% of projects issued on DEX will have a market cap of less than $5 million. The reason is that most development teams are anonymous and very good at making quick profits. This is also why the CTO (community takeover) narrative is so popular, as developers often sell instantly.
whale
Every project that goes from 0 to billions of dollars in market cap needs whales at some point to drive the price up. What usually happens with meme coins is that the community forms early on, and then once the meme is successful in terms of attention and virality, the market cap exceeds $100 million. And once the market cap stands or exceeds $100 million, bigger whales come in because there is enough liquidity to build large positions. In addition, players who own these meme coins early must be diamond hands, and once they become whales by holding at such an early cost, they cannot sell. These enthusiastic holders in the community are crucial to the project and everything else.
결론적으로
Each token has a team, with varying degrees of organization; each token has the participation of snipers + whales. For projects with a market value of more than billions, a clever combination of these different elements is necessary, regardless of whether the participants are the same.
This article is sourced from the internet: Ansem explains the three elements of Meme: the game between development team, sniper and whale
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