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LIVEBluechip
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Don’t be naive, most of what you see is fake, especially with memecoins.
99% of insiders manipulate millions of $$ in fake trading volume to attract buyers.
Here's how they do it and how you can spot them
When you visit tools like dexscreener or DEXToolsApp, tokens are often listed in descending order based on volume, with the highest volume tokens appearing first.
These tokens get the most visibility, increasing their chances of being purchased by retail investors.
The two key metrics that boost a token's ranking on these platforms are volume and the number of holders.
You might also look at these metrics before making a purchase.
However, in many cases, these volumes and holder counts are fake. So, how do they manage this?
There are several methods to fake the number of holders and trading volume:
• Solo buy/sell (not very effective)
• Coordinating with friends (somewhat effective)
• Automating the process using thousands of independent wallets (highly effective)
It's the third method that is most commonly used.
However, this approach requires significant organization:
• Servers to run the code that automates these activities 24/7
• A node validator to prevent network congestion
• Money to generate the necessary volume
For a long time, only developers could set this up, but that's no longer the case👇
Nowadays, most of them use public Telegram bots like orbitt_ai, which allow anyone to fake holders and volume with just a few clicks.
The process is straightforward: you choose a package and quickly configure the bot on Telegram.
For example, a package costing 9 SOL provides 1,444 wallets and three transactions per minute.
The 60 SOL package offers 4,332 wallets and 14 transactions per minute.
This is undetectable on bubblemaps because the wallets are not linked, and the bot uses various node providers.
I was surprised to see how easy it was to set up the bot:
• Launch the Telegram bot.
• Provide the address of the token you want to boost.
• Confirm by sending the package price to the specified address.
I tested this on a random meme token, and its Mcap did 5x in just 24H. It’s frightening!
I'm not showing you this so that you'll use it, but rather to demonstrate how easy it is to manipulate these metrics.
This ease of manipulation explains why so many people do it, there are no significant technical barriers.
But how can you identify this manipulation to avoid being misled?
Know that it's nearly impossible to detect these practices using tools like Bubblemaps because the wallets involved are independent and are not usually newly created.
The same wallet can be used to boost volume across many different meme tokens.
The method I’ve found effective is analyzing the associated Telegram group.
High trading volume should correlate with high Telegram activity.
If the Telegram group isn’t active (with multiple messages per minute), it likely means the volume is artificially inflated by bots.
You might say, “The Telegram group itself could also be botted,” and you'd be right.
However, identifying a botted Telegram group is easier than spotting fake trading volume.
The messages and profiles of Telegram bots are usually obvious, with phrases like “Buy now,” “LFG,” “To the moon,” and similar.
PART2: Developers and insiders have increasingly powerful tools to rug pulls using advanced techniques.
part 3: The Reentrancy Attack is one of the most destructive in crypto, yet still one of the least known.
I hope you've found this article helpful.
Follow me @Bluechip for more.
Like/Repost the quote if you can.
#TON #DOGSONBINANCE #CryptoMarketMoves #SolanaUSTD #mememcoinseason2024
Here's how they do it and how you can spot them
When you visit tools like dexscreener or DEXToolsApp, tokens are often listed in descending order based on volume, with the highest volume tokens appearing first.
These tokens get the most visibility, increasing their chances of being purchased by retail investors.
The two key metrics that boost a token's ranking on these platforms are volume and the number of holders.
You might also look at these metrics before making a purchase.
However, in many cases, these volumes and holder counts are fake. So, how do they manage this?
There are several methods to fake the number of holders and trading volume:
• Solo buy/sell (not very effective)
• Coordinating with friends (somewhat effective)
• Automating the process using thousands of independent wallets (highly effective)
It's the third method that is most commonly used.
However, this approach requires significant organization:
• Servers to run the code that automates these activities 24/7
• A node validator to prevent network congestion
• Money to generate the necessary volume
For a long time, only developers could set this up, but that's no longer the case👇
Nowadays, most of them use public Telegram bots like orbitt_ai, which allow anyone to fake holders and volume with just a few clicks.
The process is straightforward: you choose a package and quickly configure the bot on Telegram.
For example, a package costing 9 SOL provides 1,444 wallets and three transactions per minute.
The 60 SOL package offers 4,332 wallets and 14 transactions per minute.
This is undetectable on bubblemaps because the wallets are not linked, and the bot uses various node providers.
I was surprised to see how easy it was to set up the bot:
• Launch the Telegram bot.
• Provide the address of the token you want to boost.
• Confirm by sending the package price to the specified address.
I tested this on a random meme token, and its Mcap did 5x in just 24H. It’s frightening!
I'm not showing you this so that you'll use it, but rather to demonstrate how easy it is to manipulate these metrics.
This ease of manipulation explains why so many people do it, there are no significant technical barriers.
But how can you identify this manipulation to avoid being misled?
Know that it's nearly impossible to detect these practices using tools like Bubblemaps because the wallets involved are independent and are not usually newly created.
The same wallet can be used to boost volume across many different meme tokens.
The method I’ve found effective is analyzing the associated Telegram group.
High trading volume should correlate with high Telegram activity.
If the Telegram group isn’t active (with multiple messages per minute), it likely means the volume is artificially inflated by bots.
You might say, “The Telegram group itself could also be botted,” and you'd be right.
However, identifying a botted Telegram group is easier than spotting fake trading volume.
The messages and profiles of Telegram bots are usually obvious, with phrases like “Buy now,” “LFG,” “To the moon,” and similar.
PART2: Developers and insiders have increasingly powerful tools to rug pulls using advanced techniques.
part 3: The Reentrancy Attack is one of the most destructive in crypto, yet still one of the least known.
I hope you've found this article helpful.
Follow me @Bluechip for more.
Like/Repost the quote if you can.
#TON #DOGSONBINANCE #CryptoMarketMoves #SolanaUSTD #mememcoinseason2024
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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