Players of meme coins in the Chinese and English communities are currently mainly active on BSC and SOL, respectively. However, when it comes to "making fun of" others, players from both communities have surprisingly "merged."

In the Chinese community, they make fun of Niuniu and Afeng, while in the English community, the recent unanimous target of criticism is Cented.

The "7-Second" Trader

According to data from cielo.finance, Cented's realized historical profit has exceeded $10 million.

His realized profit in the past 30 days is about $727,000, and in the past 7 days, it's around $190,000.

This so-called "money-printing machine" profitability corresponds to a total of 308,666 transactions over 357 days, with a win rate of 62.3%, and a median holding time of just 7 seconds.

Not a single one of his multi-million-dollar profits came from a "rug pull" by a whale; the largest single profit came from $gork, amounting to approximately $90,000. In the profitability ranking of coins below, he made a lot of money by trading coins that most of us have probably never even heard of.

These coins, much like many negative views of meme coins, may have a lifecycle from creation to end even shorter than 1 hour, with their entire purpose being just a gamble. Without "traders" like Cented, who drive traffic, these coins might not even be seen by real people among the tens of thousands of new coins daily through monitoring bots.

On average, Cented conducts 845 transactions per day, earning an average of $33 per transaction, with a daily income of about $28,000 and a monthly income of around $850,000. This frequency means that approximately every 1.5 minutes, a trade is made, filling up every 24 hours of the day; there isn't even time to eat, sleep, or use the restroom.

"Copycat harvesters" including Cented are already accustomed to buying in at a few thousand dollars in market cap through the main wallet and dozens or even hundreds of scattered small wallets, then exiting when the market cap reaches $100,000 or even lower.

Their profit comes from the cognitive tax imposed on current meme coin players who believe in "earning money by playing new coins intraday." The platform (pump.fun/Axiom/gmgn) needs them to promote and establish the myth of "earning big money by simply holding with good tools" in tweets or live streams. In reality, the tools for multi-wallet bundling on platforms like Axiom are already quite sophisticated. These Key Opinion Leaders (KOLs) can easily perform the operation, strengthen their persona with each bundling, and earn more profit through rebates from the trading terminal.

Due to their short holding time and high trading frequency, Cented's address has even been flagged as an MEV bot.

Furthermore, out of the 1000 coins Cented minted, only 30 coins successfully graduated.

Three days ago, he launched a coin called $Ichi, revealed the Contract Address (CA), but ultimately, it was shown that his public address only held the coin for 1 hour, harvesting around $2800 in profit.

「The World Has Been Suffering from Qin for a Long Time」

What can we learn from a "7-second" trader like Cented?

cookin.fun simulated a large number of KOL trades, mimicking real-time copy trading with a 10-second delay and selling after 10 minutes to test the profitability of copying KOL trades. The result of copying Cented's trades was a -21.3% return on investment.

Trump's coin launch success story has plunged the meme coin market into a "holding fallacy"—as long as you spend over 10 hours a day in front of the computer, aggressively operating those trading terminals, sooner or later, you can achieve your a7 or a8 myth in the blink of an eye.

This fallacy has only made more people fodder for "traders" like Cented who exploit copy-trading.

We can't learn anything from their concept of choosing investment targets. The only thing we seem to learn is bundling, sniping, turning others' losses into our profits. When everyone is pursuing the ultimate in quick entry/exit, the whole market is like a full-level-equipment battle royale game, making it harder to attract new players.

So, many voices have started to think that players like Cented have become the "cancer of meme coins."

But at the same time, Murad, once famous for "Believe in something," whose peak position was worth over 50 million USD, now has only about 9.38 million USD left.

The coin that made Murad a legend, $SPX, went through a year-long dormancy period before skyrocketing from less than 8 million USD market cap to a 1 billion USD market cap. During this year, it experienced three drops of over 80%. Those who persisted till the end only know the pain behind it.

Belief needs to be tested, SPX is an example, and Bitcoin even more so. It's one "belief leads to reward" story after another that has brought cryptocurrency development to where it is today.

However, these hard-earned beliefs that created the "self-fulfilling prophecy myth" for cryptocurrency have ultimately become the fodder for celebrity coin launches, rug pulls, and other malicious behaviors, which is lamentable.

In the English community, more and more players are starting to realize that we need to go back to the old days. Back to the era where memecoin hype brought genuine laughter, long-term holders weren't seen as fools, and community building and idea dissemination persisted even in the face of market despair.

"If platforms like pump.fun, gmgn, axiom, bonk.fun, and others start advocating for KOLs like Murad instead of Cented and the like, everyone's attitude towards trading will change. Long holding, belief-based trading will be rewarded, and more people will emulate this classical approach."

We are not at a dead-end. Sometimes, it's not that there's no way forward; perhaps we just need to look back at the path we came from.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia