A certain top exchange's MEME coin is skyrocketing, with a short-term increase of over 500%. Is it the next ten-bagger that VC firms will pour into, or just another community-driven pump-and-dump game to cut the leeks?

You might have experienced this routine: the group chat is full of shouts of "This coin is coming," KOLs saying "This wave has a narrative to take off," and FOMO kicking in, leading to a full send. What happens next? Price spikes the next day, then retraces, and you buy in only to be left holding the bag.

The core issue isn't that you're slow to act, but that you're treating MEME coins as "projects with fundamentals." These things aren't projects at all; frankly, they're just a battle for attention. Whether you can make money depends on four key dimensions: whether exposure is sufficient, the liquidity and transaction structure, how long social media hype can last, and whether the smart contract permissions are truly clean.

There's a hidden trap here: trading volume far exceeds actual liquidity. It sounds like a quick pump, but the dump can be just as rapid and terrifying. 90% of MEME coins will either get rug-pulled directly or fall into a death spiral of liquidity exhaustion and fading hype, gradually zeroing out.

So how can you identify "potentially supported by a stronger narrative" plays while keeping risks in check? The core comes down to just four words: narrative leverage. Master this, and you'll truly find alpha.