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When I first started trading meme coins, I thought the hardest part was getting lucky and finding the next 100x. But that mindset is exactly why I lost hundreds of dollars before I even knew what I was doing. The truth is 99% of
Ethan Prosper teaches five memecoin trading lessons, focusing on spotting fake charts, reading holder distribution (DRO), and tracking wallets. The video includes a sponsor promotion.
Key Takeaways
- Fake memecoin charts often show unnatural initial spikes, sniper-driven buys, and fresh wallets with no sells.
- Holder distribution and tracked wallet presence are useful signals for assessing whether a coin is organically traded.
- Multi-walleting can disguise insider concentration, so distribution analysis requires caution.
- Watching experienced traders can help beginners learn, but the video also promotes referral links and paid communities.
What the video covers
- Opens by arguing most memecoin traders lose money because they lack fundamental knowledge, not because of luck.
- Lesson one covers identifying fake charts by recognizing unnatural initial candles, spam buys, and volatile price movement.
- Shows examples of semi-realistic fake charts that use sniper bots and fresh wallets to mimic organic growth.
- Demonstrates tracking known wallets: real coins usually have tracked wallets among holders, while fake coins often show only fresh, unsold wallets.
- Recommends checking top traders lists; healthy coins typically show early buyers who have sold out at profit.
- Introduces DRO (holder distribution) analysis and explains how insiders use multi-walleting to hide concentrated ownership.
- Warns that supply distribution should inform risk tolerance rather than serve as a standalone buy signal.
- Recommends following Twitch streamers and trading communities to learn from experienced traders' real-time decisions.
- Promotes a trading platform via referral code and offers filters available through a Discord community.
- Closes by describing personal losses and emphasizing discipline and cutting losses.
Chapters
- 00:00Introduction and Why Most Traders Lose
- 01:16Lesson 1: Identifying Fake Charts
- 03:42Examining Live Coins: Fake vs Real
- 06:45Lesson 2: Holder Distribution (DRO) and Multi-Walleting
- 11:00Lesson 3: Learning From Trading Communities and Streams
- 15:00Lesson 4: Tracking Top Traders and Wallets
- 17:00Lesson 5: Risk Management and Closing Remarks
Full Transcript — Download SRT & Markdown
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traders are unprofitable because no one taught them these five concepts. And if you miss just one, you're done before you even start. The real game isn't about gambling. It's about understanding real mechanics like DRO, fake charts, and wallet tracking. So stick around
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till the end because I'm breaking down the five rules that helps me turn one soul into $700,000 in 7 months. trading meme coins. And if you're serious about trading, you need to sign up to Axium using the code prosper. Link is in the
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description. You'll save thousands of dollars on fees, and you absolutely need it to follow along with the rest of the video. All right, guys. So, our first lesson is going to be about real versus fake charts. This is probably the basic
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and most important thing you need to know. Honestly, it's a little tricky at first, especially if you don't know like what charts should look like. We're going to try and go over different types of fake charts so that you can
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immediately tell just with your eyes if a coin is real or not. So I mean here are first a few example of a fake charts. First if we look at this chart you can see that the initial candle is
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all the way to 196 and it's spammed with dev cells. It just looks weird, unnatural. This is an a obviously fake chart. It's easy to tell and you should not be buying this coin. Now here are some charts that are actually a little
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bit more realistic. However, still fake. This first one you can immediately tell off the bat that it is fake because it has this massive candle up instantly [music] to 19K. It moved a little strange because it went up and then down
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and back up. If coins usually spun like this, only up in one or like two candles and it just looks weird. It's not real.
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And then this one is also fake. This one you can't initially tell that much without [music] having to see the coin itself. This does look pretty realistic and this is how they get people like you who are just starting off. So, you have
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to be able to look at certain stats which we'll go over in the rest of the video. But again, it does have that initial big candle up at the beginning.
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Then like it's a clear bundle. And again, in this case, this is a pretty realistic chart. Unfortunately, like some of them are pretty realistic.
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Here's another example of a semi-realistic chart. This chart looks pretty real except when you look into the beginning, you see the same type of pattern of immediately start up kind of like a weird movement, then another immediately big candle up all the way to
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migration right here. And again, just the whole formatting of the chart is a little weird. And if this isn't already enough to kind of indicate the beginning of the chart for you, you should also look at this and the way that it's
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moving. You can see that the candles are very volatile in like a really unnatural way. And then you can also see in this case of this chart, the beginning of the chart, the purchases are way off. It's like a 666 souls, 14.29 soul sniper,
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1.4.7 soul sniper. And so it immediately got sniped to 25K. And then you can also just see most of the times the narrative just isn't that good. So, these are just commonly fake [music] example charts.
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Now, let's actually get on the scope and see if we can find some of these. Let's look at Graipedia for example. This is the logo of Elon Musk's new product.
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It's an account that [music] he made for it. It went pretty famous today and there were a few coins that came out for it. This is a fake chart. One immediate way you can tell again is the beginning.
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If the buys look something like this, the initial buys are super high. There's no sell. It immediately spawns super high at 24K and just the beginning of the chart looks like this. is already a really big red flag because the coin
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shouldn't spawn in one candle upwards and then just moving slowly up clip slowly up. It's like triangles almost like it just doesn't look real. It doesn't look natural. And then another huge candle from 50 to 150k in one
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candle is unrealistic. This tends to be moneyaundering. Here are other ways you can find out that this is fake. Well, first you can just go to the holders and all of these wallets are fresh. It's a little suspect that all of these are
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fresh wallets and none of them have sold. a little strange. And again, just the way that it's moving is fake. Yeah, you might say, "Oh, it might go up. I could make money on it." You can't. The whole point is that it's rigged. If you
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buy, they'll send it down. If you sell, they'll send it up. No matter what, they make money and at any point they'll just rug it and it'll go straight to zero.
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So, you should not buy these [music] types of charts. Here's a surefire way to tell if real coins are real or not.
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An easy way is just wallets. If you are tracking enough wallets, one wallet is probably going to be in almost every coin. Like, virtually all coins have at least one track wallet in it. Uh, and so let's look at it like NNN as an example.
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400 holders. Look at this. Immediately coins have these tracked wallets. Cap, Bixie, Farcoin, Dev, Jack Duball, Cupsy.
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All of these people are in the coin and you can immediately tell that it's a real coin because real people are buying it. That's super easy. It just looks so different. [music] And even if you go to the beginning of the chart, let's look
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at the buys and the sells. Yes, it kind of spawned a little high at 11K. That's fine. I mean, like that's just people finding the coin and buying it at a 6.3 sold bid at the beginning. You see two
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1.5 sold buys, one two sold buy, one tracked wallet buy, another two sold buy. Immediately off the bat, you're seeing buys and sells that are natural.
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And if we go to the holders, some of them have sold a little bit. Some of them haven't sold at all. They're all up different amounts, have very different percentages. Supply of the coin is all different. And we're going to get into
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holder distribution. If we go to the top traders, you see people that entered in really early and sold. They're almost full out. They have 0% left of the coin.
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That means that people bought this, sold it for a profit, and moved on. That usually happens for every single coin if these top holders don't look like this.
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If you're not seeing Cupsy at the top, sometimes you can see that the coin is fake. One way that you can get rid of more fake coins is by using our filters.
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So, you can go to our Discord, discord.gg/saltmafia, and you can copy and paste all of our filters. Go to the migrated section, click on import, paste them here, and then it'll get rid of a lot of these fake charts. Right now, I'm using them.
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Let's get rid of one of my filters. Global fees paid, for example. Look, all of these coins. These coins don't exist.
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These aren't real coins. CZON. I open it right here. It's an immediately candle up. It's sus. It's like literally 6 buys that are bringing this to 40K. Like what is this coin? This is obviously a fake coin. You don't want to buy this. If you
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buy this, you will be rugged just by the way it's moving. It's too good to be true. There are no tracked wallets in.
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And these dynamic curves, the ones that are red, tend to be very iffy to buy, especially for beginners. You want to know what you're doing when you're buying these coins because literally all of these coins are fake. I'm pretty
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sure. Now, I hope that this was a good way to find out what actual fake coins look like. Let's look what some real coins look like. Let's see. Prawn, we're already seeing has some momentum. 40 seconds ago, 24K, 10,000 volume, 30
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holders. I click on it. Immediately, it kind of goes up. This is still probably a bundle, but this is definitely a real coin. It's moving a little strange. If I go to the top traders, already the top person has bought and sold in this time
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frame. Some are holding, some are getting out. So, it's moving like a real coin. Obviously, that doesn't mean you can't get rocked. You just know that this definitely isn't a completely fake coin. All right, so hopefully now you
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guys kind of have a good understanding on how to tell if a coin is real or fake. Now, this is going to be talking about more of whether you should buy a coin or not based on the wallet
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distribution. It's called DRO. It's super super important. And you can also tell if a coin is real or fake looking at the DRO and the holders. But essentially, DRO in a few words is just analyzing the holders in the coin and
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what percentage everyone has and how the coin is distributed. So, let's look at some examples. Well, look at this prawn coin that we looked earlier. A ended up bonding and getting sent up. So, let's look at the distribution real quick.
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Let's go well to the holders. We're seeing that one holder at the top is a fresh wallet with 6.6%. [music] I'm assuming this might be a lock because it has almost no soul in the balance. And what a lock means is when the developer
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sends a percentage of the supply of the coin to another person, which is usually like an app or any like random company, and they're not allowed to sell it. So, you know that this 6.6% cannot be sold.
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Now we scroll down and we see the top holder has 3.7%. The person under 2.9 while they just actually sold a little bit. So the holders are kind of fine.
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This 4% is a little much, but honestly as long as the coin when it's above 100 or two or 300k, no one has more than 5% of the coin besides if it's locked or anything like that, then it's usually
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okay. You just don't want someone holding a large enough percent of the coin to control the chart significantly.
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At the end of the day, people will do this through something called multi-walleting. So let's say that you buy 10% of a coin and you hold it all the way to 100K. People will instead of having that 10% in one wallet because no
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one will buy if they see a big 10% holder at the top, they will take that 10% and split it amongst I don't know five wallets for example. So now you have five wallets with 2% each. The best
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way to tell if someone is multi-walleting. You have something called bubble maps. So bubble maps. What is it? On the bottom right of the coin right here, you can click on inside X here and you're going to see a map. This
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is going to show you every single person that's in the coin as a little bubble.
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It's really, really useful. If that bubble has sent money to another wallet at any point in time, those bubbles will be linked. So, usually [music] it's an indicator that it could be the same person. It could also be friends, for
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example, like I've sent, I don't know, my friend West some soul for whatever reason. So, now every single time I buy a coin, people look at the bubble maps and they see that me and West are connected. So, they think that it's me
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sometimes or smart people know that we're different people. Anyways, the whole idea is that you can use bubble maps to kind of assess who has a majority supply of the coin if anyone and if they do, you can kind of adjust
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your risk tolerance. And you should not buy a coin because of the supply distribution, but you should keep that in mind because it'll explain how coins move. For example, this distribution is actually really clean. You have a bunch
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of little small wallets. If you click right here on the right of the bow map, you can see clusters. So, you have one cluster of 4%, one cluster of 1.6%, and one cluster of 1.3%. The rest of the
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wallets are completely individual and that's usually fine. None of these clusters are too much. And then you can even take it one step further and start analyzing who owns what percent of the coin. So let's look at an example in
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this X42 for example. We can look at the top holder and this guy has 3% of the coin. Sold $5,000 bought $30,000 at 500K. Let's look at who this guy is who buys $30,000 at 500K. I can click on his
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wallet and I can see his P&L. You can see he bought it 5 hours ago. So, he had some sort of thesis as to why this would randomly candle now, some sort of idea.
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And obviously, it paid off. He's up 289 soul. In fact, this is probably someone I'm going to track. I'm going to add this to my wallet. I'm going to be like, "Huh, this guy has a pretty good thesis
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because he held this for the past 5 hours. Look, he accumulated here $30,000 and just held all the way." Okay. So, he had something that he knew or a belief that he had that was so strong that made
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him buy here, sell all the way into a negative amount and then now all of a sudden it's upgradational and but yeah, hopefully wallet distribution that was a whole lot. It was a little long and there is a lot of value that's cut up
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into this video. So, I hope you guys learned. If you have any questions, comments below. I will answer almost all of them. All right, guys. So, another tip that you absolutely need to follow is to not trade alone. How can you not
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trade alone? Well, the first part is joining a Discord. Again, my free one, discord.gg/somafia.
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You can also join paid groups. These paid groups have tools and guides and tutorials that will help you learn. Two really good ones are Potion and Shock.
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And if you want to join those, I'll put links in the description, but again, just go to [ __ ] and they also have them.
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Potion is group. I'm sure you've watched his content. He's great. He kind of just teaches a lot of people similar things that I do. He has his own alpha group where they'll post CAS and I literally am in it and I paid for it for a while
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until I knew him because I look for an example will be watching what people are saying call outs that they're making.
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They're going to be posting CAS. They're going to give their opinions on coins. So potion is a great group. Another one is shocked. Shocked is like JS's group and they do the same thing. It's just a group of people. It's a community who
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trade and they talk and they give each other advice. They give each other comms on what coins are, what they think about coins in the moment. They have VCs and you can just make friends and not trade alone. It's just exponentially [music]
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better. Now, Twitch streaming and honestly I do both. I'm in, you know, chats with my friends also [music] listening to Twitch streams at the same time or streaming myself. But I'll stream for example every single day of the week and show exactly all of my
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trades here. Look, we did an 8 hour stream today. Literally made only 2,600. Okay, $2,600 is decent for 8 hours or for one day for like a normal person.
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But for me, I was pretty dissatisfied with the performance. But you see every single trade that I took on the stream.
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I do it live and I'm interacting with you guys. You guys are asking me questions. I'm having fun. I'm with my friends. There are so many other crypto streamers. Literally, just go to the browse section on Twitch, go to crypto,
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and you're going to see [music] some of the best streamers at top. So look, Sher, for example, he's a great EU streamer. Handsome little guy. Look at that. He's trading here. And you can see his Chinese stocking. He has 280 people.
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So, there's little bit of communities. If you're not watching Twitch streams, you are probably missing out on so much like money, so much learning because these guys who are multi-millionaires and incredibly successful off of what they do are literally giving you the
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secrets. They're not hiding anything. They're showing you this is every single trade I take. Why? Let me explain my narratives. Let me show you how I talk to my friends and what value I'm getting out of the calls that I'm in. So get on
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Twitch, watch other streamers, and that's a good way to kind of cheat your way out of having to actually talk to people because you can listen to them speak. And you know, a lot of people are doing this, right? 220 viewers on West,
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277 on Cherro, and you know, people like Cubs or DV will stream with even 5, 6, 700 viewers. I think our best stream has had like 800 people. Now, here's a quick warning about streaming. These streamers are not streaming for no reason. when I
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go live, when Wes goes live, when Cheryl goes live, when any streamer goes live, there is an alternative reason behind it. There is going to be the aspect of like, I just want to teach you guys and help you guys out. But also, we make
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money off of streaming. You get paid off of viewers, off of ads, and you also get paid off of people watching your stream because every coin that you click has a higher chance of going up. Do you understand? If I click on a coin and I
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have 600 people watching me, of those 600 people, people are going to copy trade. You should not be copy trading.
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You should be looking at these people and learning how they're trading and studying them. If you're going to get in these streams and be like, "Oh yeah, Wes bought this coin or Ethan bought this coin and I think that it's like just
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good because Ethan bought it." Not going to work. But if you see that we buy a coin that you like, you say, "Okay, I also was about to buy that coin or wow, I bought the coin before they did. I'm
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getting good at this." And it's kind of a good way to build conviction on coins, build confluence, and overall just become a better trader. Wallet tracking is the most important part of trading easily. There's literally no other thing
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that's more important. And the reason for that is because trading is a social game. You are playing kind of like a video game and you need to know what other people are doing, what other people think of coins. You need to have
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eyes. If you're trading without tracking wallets, you're trading blind. You're looking at these charts and you have no idea what's going on. Now, wallet tracking is a double-edged sword because people will track wallets and try and copy them and lose money off of copying
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them. And others will track wallets intelligently and make a lot of money because they're making their own decisions on whether to buy or sell coins. You want to be making your own decisions. At the end of the day, the
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way that this market works is that whatever is best wins, and no one is always right 100% of the time. However, some people are right the majority of the time. If you go to the vision tab on your Axiom, or if you go to Cool Scan,
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you can actually see all of the people of that day, of those three days of that week, how much money they're up on the week, exactly on what coins, how much volume they've done. Like you see here, wow, I'm so weak. 24th best trader in
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the world. It's okay. We continue. We move on. I think this week, what am I up like 10,000? Yeah, not even 7,000 week.
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But anyways, you can see these traders exactly what they're trading, how they're trading it, and you can track them. If I click on a wallet, for example, I can see what they made their money on this day, week, or month. I can
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see exactly what coins they sold or buy, and I can look at their top 100 trades.
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So, their best trades, what they've made their money on historically, their trading history, their active positions.
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There is so much info. And then the best part is I can open up a chart right here. I can see people's trades on the chart. These little bubbles are emojis that I had set as like the KO or the
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person who's wellknown's name exactly like a little emoji to represent them. And it even shows up under holders. So when you're analyzing the holders distribution, you can say, "Oh, well look, Letter Bomb, for example, who's a pretty big like person in the space and
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streamer holds 3.5% of the coin. He bought $900 at 28K and he's still holding. He hasn't sold a dollar yet.
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You can see sold zero. Bought average buy 28K." So you kind of can get an idea of how coins are going to move because you can study how people trades. Some people are in very like quickly and then
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get out very quickly. Some people hold their coins. Some people are kind of in the middle. Some people have huge candles because they buy a coin and they have a lot of copy traders. Some people have no copy traders because they buy
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and sell very very quickly. So everyone trades in a different style. And over time you will learn to read charts based on people just buying and selling the coin. How to track wallets. Super easy.
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Go to our Discord, discord.gg/soulmafia. Click your verification button up here. When you enter, it's this little check mark right here. Click on wallet tracking. And you're going to scroll up right here, and you're going to see an updated wallet list. You're going to
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click this little download button right here. It's going to download, and then you're going to save it. You're going to go back to your Axiom, go to trackers, go to imports, and paste that list in here. This is going to create a list
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where you can see all of the wallets I track. All right, for the last part of this video, we're going to talk about paper trading. Now, paper trading is very simple. is a way to trade if you don't have a lot of money. A lot of you
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guys are starting off and just like me, maybe you had one, two, or three sold to your name and you didn't want to spend it all or lose it all or maybe you had even less and you are wanting to trade
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just to learn and not risk a lot of your hard-earned money. That's understandable. That's fine. That's a great way to learn. Don't rely on paper trading too much, but it's a good way to get your feet on the ground and start
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building conviction before you start putting in real money into coins. What I did is I would go to a coin and I would say, you know what? If I were to buy this coin, I'm going to go right here.
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If you see on the left of the chart, you can click on this paintbrush. I'm going to say, you know what? I'm buying this coin right here. This is my entry. And now, okay, well, I'm down on the coin.
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Let's see how the coin does. And I'm going to decide whether to sell or to buy. I'm now in this coin in this position. It's at 23K. Okay. What did I buy? Well, the narrative is 402 cat, which is really high. This is 402 dog.
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Ooh, I'm getting drilled. It's down. I see Urus is holding a lot of the supply on two wallets. Lunar just sold. Yours just stacked. Wow. Dang. I think I'm going to get out here. You know what?
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Sell. So, I just sold at 16K and bought at 23K. That is, and I'm can use this tool right here to figure out how much of a loss that is. That is a 24% loss.
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So, what am I going to do? I'm going to go back to my document. I'm going to say, well, I just lost 24%. And I'm just going to keep going. So, hopefully you guys enjoyed. This was a lot of content.
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It was packed in. It was a little quick. I think that I'm going to have a lot of questions, so ask them in the description or in the comments below.
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Don't be afraid to ask. Like, I'm going to try and answer all of them. I hope you guys enjoyed. Yeah. Thank you guys so much for watching. Make sure to like, comment, subscribe, and check out all of my links at ethanrossper.com. I'll see
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you guys next time. Peace. [music]
Topics:memecoincrypto tradingfake chartsDROholder distributionwallet trackingsolanacrypto beginnersrug pulltrading education
