The “Insider” Delusion in Memecoins
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In the past 2 days, I've turned $5K into six figures on chain.
- $X7 $3,500 to $54,000
- $STAMP $2,000 to $84,000
The number one cope I've heard from these trades is that I was an "insider" which is a label I hear incompetent traders use all the time in this space, and that no one has really touched on. The goal of this article is to clear the air on what insider really means, and give newer traders hope that it really is possible to make generational wealth from memecoins without cheating.
1. What does "insider" actually mean?
There are two ways you can get "insider" information on a project. 1. the project's dev(s) giving you early information, or 2. finding it yourself**
This means that the only real insiders are people who either helped build the coin, or very close friends of the developer of said coin. ** While they do exist and insider trading is rampant to an extent, the nature of the blockchain allows a fair opportunity for anyone to get a fair shot in crypto.
This is the reason you hear of snipers and legendary traders like Naseem making insane profits on something like Trump coin: a project that was kept top secret.
For fun, try putting yourself in the shoes of project's dev. Imagine you know you are creating something cool that will go pretty high. You bundle the coin (will write on bundling and why its not necessarily bad in another article later) and buy up supply of the coin. Maybe you built your website early, and before you launch you let some of your friends and the people who helped you prepare the launch know that you about to deploy.
Then, you click "launch." The second that happens, you instantly have hundreds of eyes looking at what you made. While your friends were given an advantage, these eyes are filled with people trying to make as much money as possible on your coin. This is where skill comes in.
Of these hundreds of people, a few talented traders have already DD'd your project, know its going to launch, and used tools to acquire even more knowledge than you gave to your friends. They get in earlier because of this, and before you know it they end up making thousands of dollars by clipping out your chart whenever they want, all while being in very early
Also, as a dev, think about what you’re giving those friends. You’ve done the work to put the launch together, and you’re handing them a chance to buy cheap supply before the attention arrives. If the coin takes off, they can profit from that head start without having done any of the work themselves. They also have no obligation to hold. Someone you tipped off could sell straight into the demand you worked to attract.
From the dev’s perspective, sharing that information can mean giving away part of the upside and adding another early seller.
As a trader, your job is to be one of the few and get your research done as quickly as possible; even if quickly means before the project even hits the chain.
If “he knew something I didn’t” is your entire definition of an insider, you’ve just described why people do research. Memecoin trading isnt supposed to be a fair game. People have different connections, tools, budgets, and execution speeds. Some advantages are enormous.
But you need to identify what the advantage actually was before you can learn anything from a trade.
2. A group chat isn't automatically insider information
Another huge cope I hear is people getting mad at "FNFs" or trading groups.
If someone drops a public link into a chat and five people research it together, they may reach a conclusion faster than someone working alone. One person understands the meme, another looks at the wallets, and another notices something questionable about the project.
This is the whole reason FNFs are even a thing. Most of the time people cry about them, but when you think about it, it makes complete sense. Imagine having a group of 10-20 highly skilled traders doing their research on a coin. They are going to win against a single trader 100% of the time, so why wouldn't you work together as a team? its business 101.
Of course, a group chat can also push prices up of coins pretty easily (eg. when all of XYZ fnf buys a coin, other traders might fomo in thinking they know something) - most of the times they probably do, but by the time you fomo in they might already be clipping on your dome.
3. Knowing about the coin is only the first decision
Imagine ten traders see the same coin at the same time.
One fades. One buys too much and panic sells on the first dip. One takes a small profit. One holds longer. One gets greedy and gives the entire move back.
Same information. Different decisions. Different outcomes.
Finding a coin leaves plenty unresolved: how much to risk, what would invalidate the idea, when to reduce exposure, and whether you can actually exit the position you’ve built.
uPNL =/ PNL
Two winning trades, including mine, don’t establish a repeatable edge by themselves. You have to look at the losses, fees, and decisions across more than the highlights.
That’s why “he bought early” is such an incomplete explanation of a result. There’s a whole trade between the entry and the money somebody actually keeps.
What I'm about say is a harsh reality and #1 best advice I'd give to any trader:
you need to think for yourself, and will never make money working off the backs of others
4. The $X7 and $STAMP trades
So by now, you're probably begging to know why I hit those coins and why they look like insider..
$STAMP PNL
Let's start with STAMP. I found the coin on new pairs while scanning and noticed the dev wallet had made a project coin that had gone to multiple millions about 7 months ago. At the same time that day, Zcash had just broken an all time high, there was no runner, and this dev's old coin was tech for a ZEC project. He was also followed by the founder.
At 10k it was a no brainer. My entry was low, the project looked high effort (multiple days of work on the site, good github, etc.), and his credentials were there. If the project bonded I knew it would do pretty well so i blasted around 5% and waited. 20 minutes later it bonded and the coin flew from bond to ~10M mcap that day. I slowly sold my position at an average of 3-4M and moved on to scanning for more coins
This trade was relatively simple, and the information was completely public on chain. Anyone had 15 minutes+++ to buy the coin pre bond, but the edge I had was simply doing my research on the project and trusting that the meta would produce an environment in which this coin would run
If ZCASH + launchpads weren't peak mindshare, this coin would probably have died rather quickly, but by trenching every day and staying on top of what the demand in the market was, I was confident enough to hold my % relatively high. The growth on these coins is exponential- once you get a few wallets in, the eyes increase and loop feeds itself. if people like it, it keeps going up, and if they don't, it tops out. my bet was simply that it had really good pmf
Now $X7 is a lot more interesting, because its what even known traders and many people think I had insider on. Once again, however, it was just a product of good research. I had known the coin was going to launch as many fake coins of this project were created throughout the day, and when I had looked at these fake rugs of the coin, I saw the account was followed by some pretty reputable people in the space (notably @bazingahappy). You can use a tool like @frontrunpro or @alphagate_io to quickly see how many notable people follow any account.
So pre launch, I had already a relatively decent idea that the project was hyped, and I had looked through the site. Later that night, I noticed a pair bond on meteora at around $40K mcap. I went to the site, looked through the docs, and noticed they had an api: https://x7pad.com/docs#api
One of the API GET requests was this:
so i just put in the mint address of the token on their api: https://x7pad.com/api/public/token/CdhZy8wrRxNxoV8HtoByXKN7mvS46avtuZ1b39tKfx7.json
and it returned positive (meaning that the coin was listed on their backend and therefore obviously theirs)
That's it. No info, no nothing, it was literally staring everyone in the face- but only a few traders actually took the time to do their proper research on the coin.
I blasted, let my friends know, and waited. By the time they posted the CA and launched the coin I was up 3X (50K->150K) which pretty much confirmed to me that this was a cook. Since they had spent over 1 week working on the site, hadn't rugged it yet, and took a few hours to post the CA and officially announce the launch, it was a pretty easy hold. I let other people do their thing, buy the coin, and it slowly cooked up to 3M mcap over the next 3-5 hours.
At the top I was up $100,000 and honestly i was pretty bullish so I left 1.5% overnight and unfortunately roundtripped my position
Anyways I won't keep boring you with the technical details but the number one thing I heard all day was people coping saying I had insider. I didn't- I just worked harder than you.
Now both of these projects help prove my earlier thought: why would this team want me in? Is there any advantage to having me in at 50k? if they know i will sell my position whenever I want and apply tens of thousands of sell pressure on their chart, there is literally no incentive to giving me a warning. That's the core idea I'm trying to push to you.
5. What the "insider" label costs YOU
Finally, lets talk about why having this mentality is poison, and why you will be forever stuck in mediocrity if you keep relying on excuses when you don't hit a cook. It's a harsh take, but I honestly think you are better off finding a different space if you keep this mentality.
The easiest thing to do after missing a trade is explain why it was impossible for you to catch.
- “He knew the dev.”
- “They had a private group.”
- “It was cabal.”
Sometimes those claims are true. If there’s evidence, examine it. If they are true, use the information to your advantage to sneak into their next bundles.
if “insider” is your explanation for every trade you didn’t understand, you’ve given yourself permission to stop not only learning, but improving.
Being early doesn’t prove someone cheated. Making money doesn’t prove they’re skilled. Both claims require more than a green screenshot.
The next time somebody posts a huge win, ask what they saw, when they saw it, and try to understand why you didn't see it.
The best part about this game is that its constantly evolving. To win forever, you need to evolve with it.
P.S.
Nobody Calls You an Insider When You Lose. Behind these "overnight" wins came 2 years of trenching every day and sacrifice (not limited to my hair😅) Don't give up. Anyone can do it.
