Author: Frank, PANews
Recently, the MEME coin GOAT on Solana has become the biggest wealth code, with a market value exceeding $400 million in just one week. This has allowed many smart investors to achieve returns of over a thousand times. Behind these stories of sudden wealth, how did these smart investors operate? How did they achieve such high returns? PANews conducted an in-depth analysis of six smart money addresses that gained significant profits from GOAT.
In the analysis, PANews focused on when these smart investors bought in, what their daily buying strategies were, how long they held their positions, and when they sold their principal.
2PYWK: Pump.fun Curve Promoter Accidentally Captures GOAT
2PYWKE6EJ8pWeX11ahhvrY1k947JCwuwZpV4eihiJJNS (hereinafter referred to as "2PYWK") began buying about 1 hour and 25 minutes after the opening, when GOAT's market value was still less than $50,000. 2PYWK is considered one of the earliest promoters of GOAT. In fact, even before GOAT completed the Pump.fun curve, 2PYWK had already spent 1.15 and 1.41 SOL to buy in, becoming the last transaction that satisfied the curve for GOAT. However, it is clear that 2PYWK was very cautious, quickly liquidating after it went live on Raydium and recovering nearly 7 SOL, completing the first profit on GOAT. It wasn't until observing for more than an hour that he entered the market again.
By analyzing several of 2PYWK's previous transactions, it can be seen that the main strategy of this address is to look for tokens that are about to complete their curves on Pump.fun, buy them, and then sell on Raydium. This was his primary method of profit-making before, but as the results show, he also encountered projects that went to zero after buying, resulting in total losses. GOAT seems to be an unintentional successful attempt. The user's funds initially appeared to come from Binance.
Let's analyze the logic behind this user's success. First, by trading on Pump.fun, he had already made a profit of about 4 SOL, so when he bought in again with 5 SOL, his cost was almost negligible. This time, he significantly increased his holding period, holding for a total of 3 days and 21 hours before making his first sale, with a quantity of exactly 100,000 tokens, selling for about $15,000, approximately 20 times his principal. Subsequently, he continued to sell the tokens in batches of 100,000. According to PANews estimates, if he had not sold his initial holdings by October 17, they could have reached $4.3 million, with a maximum multiple of 5678 times.
HdxkiX: Early Buying + Heavy Investment, Suspected Bot
HdxkiXqeN6qpK2YbG51W23QSWj3Yygc1eEk2zwmKJExp (hereinafter referred to as "HdxkiX") bought in earlier, but his cost was about three times higher than 2PYWK. The reason is that HdxkiX bought during the process of GOAT's price surge, which increased fivefold in just five minutes, possibly attracting HdxkiX to buy. Subsequently, GOAT's price plummeted, quickly dropping by about 90%.
From the buying operations, HdxkiX seems to prefer heavy investments, buying nearly $5,000 worth in one minute, and then adding another $1,500 five minutes later. During this surge, HdxkiX was likely one of the significant contributors.
When the price rose about 30 times from his cost, HdxkiX began to sell, splitting his principal into two transactions. The holding period was about 4 hours. He continued to sell gradually, and as of October 17, there was still about $460,000 worth of GOAT remaining in his account. If he had held onto the initial amount until the end, he could have made a profit of $10.36 million, with a profit multiple of 1711 times.
From the operations, HdxkiX appears to be a high-frequency trading bot address. So far, this address has conducted over 14,000 transactions. PANews analysis found that HdxkiX seems to enjoy seizing openings, primarily focusing on tokens that have just gone live on Raydium to achieve short-term profits. Additionally, after making a profit, HdxkiX usually chooses to sell the principal and gradually offload the remaining profits.
8vChPg: Super Investor, Heavy Investment of $1.77 Million When Market Cap Was $170 Million
8vChPgJiQUZfq4SeHhLA6ExSwFbSEaWU7krbwcWRpXSw (hereinafter referred to as "8vChPg") clearly represents the operation of a super investor. 8vChPg is a new address that, after being created on October 14, continuously withdrew about $1.77 million from Kraken and bought all of it in GOAT. Based on cost, 8vChPg's average cost reached $0.174, with a market value as high as $170 million at the time of purchase. Although the timing of the purchase was not early, as of October 14, GOAT was already very popular in the MEME circle. One can only say that 8vChPg is bold and skilled, buying in under such circumstances and has not sold since (as of October 18), while also achieving about 1 times unrealized profit, amounting to about $2 million. From the scale of funds and operational style, the owner of this address is very likely to be an institution or a super investor.
4kiK6: MEME Short-term Swing Trader Lucky to Buy Before Surge
4kiK6miT9452acv3R2NvxMyqM3dPNkNopwFMEGJL1pnn (hereinafter referred to as "4kiK6") seems to be a professional MEME coin swing trader, frequently buying and selling within short periods (around 10 minutes). This operation often results in losses, and when profitable, the gains are not substantial. However, this address has been trading MEME coins since March 2024, indicating that it is likely an experienced MEME coin player. Generally, 4kiK6 sells all after buying, and shortly after purchasing GOAT, he was fortunate that GOAT's price surged dozens of times in a short period. Therefore, 4kiK6 did not need to liquidate completely, choosing instead to sell $1,700 and then gradually offload the rest.
CMDar: Professional Smart Money, Heavy Investment + Patience to Build Million-Dollar Profits
CMDarQhUrahd9f3UNEaC5yfBi5ha8gsLEwP9aHZQeDLG (hereinafter referred to as "CMDar") also appears to be a professional trader. According to Lookonchain monitoring, CMDar had previously traded $BILLY four months ago, earning $593,000. From the operations in this GOAT trade, CMDar's style is not about seizing openings but rather early discovery. When he bought in, GOAT's market value had already reached $8.58 million, and from the candlestick chart, it had just undergone a significant surge. Entering at this time generally requires a certain level of courage, and CMDar's buying position was also substantial, purchasing $92,000 worth in less than 10 minutes, with each buy being 50 or 100 SOL.
Subsequently, CMDar patiently waited for 5.5 days, only starting to sell a small portion when the price had risen about 40 times from his purchase. He gradually recouped his principal in several transactions. From his operations, he undoubtedly embodies the legendary MEME "diamond hands." The logic behind why he dared to buy heavily at a relatively high market value, seemingly anticipating that GOAT's market value would exceed $10 million, and only selling after a 40-fold increase is indeed worth pondering.
4Jpef1: MEME Big Player Also Panics During a Crash
4Jpef1sPVwFaQmWhDVaoHcY66nmSmbLd2fXgVW59wJqL (hereinafter referred to as "4Jpef1") appears to be another big player in MEME coins. About 6 hours after GOAT's creation, 4Jpef1 began buying in large quantities, distributing about $63,000 worth of tokens over half an hour. However, at the time of his purchase, the price was in a correction phase, and it was evident that many retail investors were panicking and selling, with a lot of their tokens absorbed by 4Jpef1. After he bought in, GOAT briefly surged, then underwent another deep correction. This seemed to cause some panic for 4Jpef1, who sold part of his holdings several times, then bought back in after the situation stabilized. However, 4Jpef1 clearly has more patience than other holding addresses; he initially bought about 15 million GOAT tokens, and currently holds about 13 million, valued at approximately $4.79 million, with unrealized profits exceeding $5 million.
According to PANews analysis, from the operational style of other tokens, 4Jpef1 also enjoys capturing tokens that have just gone live on Raydium. After the token surges, he quickly sells the principal, while retaining the remaining holdings. However, this operation style does not always guarantee profits; on the same day he bought GOAT, 4Jpef1 also invested over $10,000 in another MEME coin from Freakbob, buying almost at the peak. By the 13th, this token had dropped by 90%, and 4Jpef1 also generously returned all tokens to the creator.
In summary of the operations of these smart money players on GOAT, PANews found that there are no lucky novices among these players; they are all experienced professional MEME players. Although their strategies differ, it is evident from their operations that these players have their own unique analysis methods (of course, we cannot know the specific indicators they used).
Additionally, from the trading operations of these smart investors, it appears that traders who buy in earlier generally invest less each time, which tests their speed and quick analytical abilities. Meanwhile, larger investors tend to enter the market only when the token's market value has grown to several million or even over a hundred million dollars, and they rarely make further moves after buying.
On the other hand, smaller smart investors are more willing to sell their principal and some profits after the token rises, followed by gradual selling, but they always retain a portion of their holdings to let their profits run. Overall, the operations of these smart investors can be summarized as a mature trading strategy based on probability, combined with some rare luck.
However, for ordinary users with smaller capital, due to the high cost of trial and error, the operation styles of these smart investors are not suitable for blindly following or copying. Instead of blindly following smart money, it is better to become smart money yourself.
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