As you all know, I am a huge cryptocurrency degenerate. I started trading memecoins in 2021, which happened to be the same year I learned about investing. I've probably traded thousands of memecoins across different chains, including BSC, ETH, and Solana. I have a love-hate relationship with it. On one hand, buying memecoins is probably the easiest way to make money in crypto. But on the other hand, it's also the riskiest way to do so. You can become a millionaire overnight by simply aping into the right memecoin, but you can just as easily lose all your money if you're not careful. Personally, I haven't made a lot of money from memecoins. The highest amount my portfolio has ever reached on a memecoin is around $90k, when I bought this one token on BSC during the 2021 bull run. The thing with memecoins is that they are extremely volatile; you could be up by 1000%+ one day, then down by -50% the next day. That's exactly how my experience with that memecoin went. I went to sleep with a $90k unrealized profit and woke up the next day to a $6k shitshow. I was a newbie back then, and I didn't know anything about taking profit and exit strategies. Nevertheless, it's still one of my biggest regrets, not just in crypto investment, but also in life. But hey, we live and learn, right?
Fast forward to 2024, and I'm still a degenerate memecoin trader. I'm still that gambler who would put thousands of dollars on some dog-related token. The type of ape who presses the green button as soon as they see a shitter being shilled by a known influencer, even before doing proper research. The only difference is that I have experience now. Specifically, I've learned how to read a naked chart and how to properly take profits. In addition, I've gained access to different bots on Telegram that help degens like me do things like auditing, keeping track of new token deployments, finding trending memecoins, etc. Despite the usefulness of these tools, they still need some sort of manual work to have some sort of effect, which is something I don't have time for. I cannot be on Telegram all day to check which new coins are trending because I have my 9-5. I cannot be copy-pasting contracts for every single memecoin that gets launched because there are like hundreds of them that get minted every 10 seconds. And, most importantly, I cannot be staring at my screen all day because I am a human being who needs sleep. So, a month ago, I made a bold decision to build a bot that would do all these things for me.
Essentially, what this bot will do is keep track of the status of new tokens that get launched on Pumpfun. I chose Solana as my on-chain guinea pig, because let's be honest, that's where most the volume is nowadays. Also, since the contracts that get deployed on Pumpfun are audited by Pumpfun themselves, this saves me time from having to reinvent the wheel. Being audited, however, doesn't mean that Pumpfun tokens don't rug. They do. In fact, from what I gather, 95% of coins that launch on Pumpfun rug within the first hour after they get deposited on Raydium. This is why it is very important to check stuff like top wallet holdings and the transfers made by the token's owner. For this, I use the Solana Web3.js library. And of course, what kind of crypto trader doesn't keep track of the token's price and liquidity, right? For this, I decided to go with Birdeye. All this data will be fed to my AWS Sagemaker model for prediction on whether a token is a good buy or not. Finally, for my choice of cloud service, I decided to go with Render, because of how stupidly easy it is to deploy web services on their platform.
Note that I haven't tested my bot. In fact, I don't even know if it'll work, but I have already spent over a month now trying to build it and have invested about a thousand bucks in it, so I guess I owe it to myself to make it work. It's been stressful, not gonna lie. But this stress is different from the ones that I get from my 9-5, or from my boss, for that matter. It's the good stress. The kind of stress that I typically get when I'm learning something new. The kind of stress that gives me pride because I'm finally able to use all the knowledge that I've gathered from the solo projects that I attempted to build in the past to build something yet again. The kind of stress that's motivating because I'm actually building something for myself, and not just for some jerk CEO who just sits all day behind their desk. It is a stress that's actually worth stressing about, if that makes sense. Anyway, I will be starting the testing phase soon and will try to give an update sometime within the next few weeks on my progress. Wish me luck, friends.