Early Wallet Behavior and Transparency in Meme Coin Markets
Authors
Term
4. semester
Publication year
2025
Submitted on
2025-06-01
Abstract
This thesis aims to analyse behavior in meme coin space by combining on-chain transaction analysis with Reddit sentiment and topic modelling. The research focuses on three Solana tokens built on Solana blockchain: $TRUMP, $MELANIA, and $LIBRA. The study analyzes wallets and identifies patterns of potential manipulation. A suspicion score is developed to flag wallets that show characteristics of manipulative behavior. The results show that profits are highly concentrated among a small group of early entrants or advantaged wallets, while most participants experience financial losses. Reddit data reveals that emotional factors such as hype, FOMO, and social identity contribute to continued investment, even after profitability has passed. The thesis also examines blockchain transparency. The findings show that while data is technically public, the possibility for analysis is limited by poor accessibility and financial barriers. Visual tools created in this project offer an interpretable view to meme coins. The findings suggest that patterns of inequality and manipulation are common in these markets.
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