Leveraging Memecoin Whale Wallets

 _{Authors: Trav and TheOpenChain}

This Whale timed the top of $SLERF perfectly and banked $1.5 million!

They swapped 1,237.5 Sol for over 2 million $SLERF tokens on March 18 at 00:47 PST, 47 minutes after the token was available on the market.

At 02:49, only 2 hours later, they began to take profits. The first half of their $SLERF tokens converted to 5176.8 SOL! At the time this was well over $1 million USD. A huge win for this whale.

If you haven’t guessed by now, today we are going to go over everything you need to know about finding and tracking whale wallets. And from this story, it’s pretty clear why.

If we had known about this whale beforehand, and scooped up some $SLERF for ourselves:

• this could have led to some 1000% gains pretty quick.

• We can also keep an eye on their future trades as they CLEARLY have the alpha.

On the other hand, if we choose the WRONG whale wallet address to track, this can be equally as destructive:

• expose us to hacks, drainers, and compromised tokens.

• if we don’t time our trades perfectly, we will become THIS whales exit liquidity.

Regardless, one of the biggest advantages to looking for whale wallets, is that you’ll level up your understanding of the blockchain, trading styles, and the entire crypto environment. So it’s worth it even if you don’t trade.

This article will have a heavy focus on a few things:

• The Solana Ecosystem, because it’s on fire

• Meme coins, because they are 1000x’ing every day!

What you will learn from this:

• How to find quality Whale Wallets.

• How to find early Meme Coins.

Narrowing Down Your Search in 3 clicks

Let’s check out Dexscreener. This is an incredible and FREE resource that tracks the hottest tokens in the market.

Step 1: Once you sign up and open the dashboard, check out the Gainers and Losers Section, then on the top, click Solana.

Step 2: Now let’s check out the Volume and Liquidity parameters that we can adjust.

1. Volume: How much money has been transacted with this token, including Buys AND Sells.

2. Liquidity: How much money worth of tokens are currently being held by ALL holders.

The rule is pretty simple: The higher the Volume and Liquidity, TYPICALLY the “safer” the play BUT the lower the reward. The opposite is also true.

So know where your risk tolerance is, and set your parameters. Mine will be $250k for each.

If you want to go FULL degen, check out the NEW Tokens tab on the left and set the parameters for Last Hour and Newest, to find the absolute earliest memecoins out there.

Just make sure that you know how to assess the smart contract security and some basic TA. We wrote articles on both if you want to learn.

Step 3: Choose a token

We want to see the token that has had the most Valhalla like gains! Looking at the list we can sort it by 24hr price change. Do this and let’s look at the top choices.

The clear winner is $KOKO with a 202k% increase in the past 24 hours.

The liquidity at only 251k is severe degen status, so any of the largest winners should be competent traders. Let’s click on it and take a look.

Select the right Whale

After selecting $KOKO, click on the Top Traders button, just below the chart. This will list the wallets with the highest returns from trades on this token. Now before choose the top one, keep these in mind:

1. Choose a whale with the highest P&L and in the lowest number of transactions.

2. Consider the Bought VS Sold price as well. A whale with a 50k P&L who bought for 2k and sold for 52k is FAR more valuable than a whale who bought for 100k and sold for 150k.

I’m going to choose this wallet here:

Why?

• Because they almost 15x’ed their investment

• they only bought in 1 transaction and sold in 3

• they’re still sitting on to 10k worth of KOKO

On the far right of the column, click on the link under Tx and let’s take a closer look.

Analyzing the Whale Wallet.

You will be sent to the incredible block explorer, Solscan, which is our window into the blockchain. Here we can see every single transaction the whale made, see what they’re holding, and who they interacted with.

First, let’s click on the SPL Transfers tab and look for their interactions with $KOKO.

We can click on the Signature for each interaction to see the exact time that this hold bought and sold his bag. The results are wild.

We can see that this whale bought their bag for 15 SOL at 08:44, sold 50% at 08:46 for 120 SOL of profit, and another 50% of their remaining tokens at 08:48 for another 115 SOL of profit. Wild!

It’s highly possible that this was the wallet of an insider or token team member, but it’s definitely worth keeping an eye on this whales moves in the future.

How to profit from this whales address?

First, check out their portfolio (2, 3 from the image above) to see what they’re currently holding.

It could be worth doing some DD on these projects to see if they may be worth getting into.

Make sure to scan the smart contract address of any meme coin token to see if there are any flags or dangers before jumping in. It only takes one click to loose all of your funds.

Next, if you have a Solscan account, copy the wallet address (1. in the image above, and add it to your watchlist. Under your profile, click Watchlist, then paste the wallet address into the field, adjust the types of notifications, and name the alert.

This will give you a heads up when this whale enters new positions.

WARNING! Don’t blindly follow these moves. As we saw, this Whale was in and out of their trade within 3 minutes, so always be careful with what you put your money into.

Getting into the habit of tracking whale movements will give you powerful insights into how they trade and what they look at. This will level up your trading in a very real way.

You can also use these skills to learn about whales who invest in safer assets like Bitcoin, Ethereum and major altcoins.

The sooner you start, the quicker you will grow.

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