Catching $SLOP Early: A Narrative + On-Chain Read That Paid Off

Meme coins have evolved in the last couple of months and now, it is no longer just some random noise but rather structured plays and one of them that helped explain the benefit of mixing social insights with a bit of on-chain information that can still result in clean profit is this $SLOP trade, which showed how it can be done. It was all initiated by Toly: light-hearted tweet about meme culture and NFTs. It plummeted fast as promised. Within a relatively short period, Tensor, Raydium and other projects assisted in driving the joke deeper into that of CT. It is not a new pattern to me. That is when narratives are created, capital rotates, and FOMO comes in. The thing is to do something just before that final segment.

I searched the early indicators because it had the mechanism to ride that wave and I discovered $SLOP on the listings of Bitget Onchain. At a glance, it appeared to be a regular meme but what was interesting: the ownership of the top holders was not overwhelming, the daily distribution was not climbing and falling chaotically, and the volume of the LP was not dominated by frontrunning bots and suspicious flows. Those were green lights to myself. Technically speaking, I have found a mini bull flag which was just forming on the lower timeframes. The entries caused no trouble, liquidity did not fluctuate, not to mention the initial collapse of the structure that immediately triggered my withdrawal. It was a short run, a good, clean through and that through showed a 273% profit to-entry.

It was not some crazy pump which only relied on vibes. Social story could be traced, data could be easily verified and the token was acting as expected in the early-stage organic flows. That combination is less present in this meme-cycle. I am not saying this as a call but as a breakdown. The meme season will not stop any time soon, and a lot of noise is out there. However, when you set aside developing early social indicators and match them up to clean onchain statistics, there is still some good edge left to be obtained.

I wonder if anyone else managed to pick this one up (or something along the lines of the Solana-based meme arrangements in the recent past?