KOL issuing tokens and harvesting profits is gradually becoming a "conspiracy group," leaving retail investors with unspoken suffering

Author: Deep Tide TechFlow

Yesterday, the conversation between two "crypto stars," Trump and Musk, on Twitter Space attracted millions of viewers simultaneously.

For most crypto players, the most concerning aspect of the live discussion between these two big figures is not the constructive topics they discussed, but rather what Memecoin opportunities emerged during the several hours of the live stream.

From the performance of Pump.fun, it indeed did not disappoint the Meme players :) According to Dune's data dashboard, the asset issuance and protocol revenue of Pump.fun skyrocketed on the day of the live stream.

The concepts related to Trump & Musk dominated the screen:

Yes, those who watched the live stream yesterday witnessed yet another feast of capitalizing on hot topics: as the interview between Trump and Musk was only halfway through, numerous Memecoins riding the wave of popularity had already completed a full lifecycle.

Memes are still shining brightly, becoming the first stop for capitalizing on hot topics in crypto and even the world. For those participating in this wave of hot Memes, the fundamental principle of trading Memes along with trends is quite clear: it’s all about making money, with absolutely no long-term plans for project development or promoting ideals (of course, if one gets stuck, that’s another story).

With a clear purpose, simple principles, and a straightforward path, it seems that the approach of "riding the trend" has the right timing and conditions; what remains is simply "stay alert, be bold, and run fast." What else is there to say? Take a chance and try it; what if you hit the jackpot… This might be the true thoughts of some on-chain PvP players.

Hehe, you stand on the bridge watching the scenery, while the people upstairs are watching you. The bright moon decorates your window, and you decorate others' dreams. Opportunities do exist, but is making money really that simple? When you try to find profit opportunities in hot topics, you have already become an opportunity for others to profit.

After the Hype, Is the Conflict Pointing to KOLs Manipulating the Market?

The Harvesting Trend of $Yeah Sparks Controversy

Trump and Musk indeed hold significant positions in the crypto world, but as the conversation ended and no cryptocurrencies were mentioned, the heat of this Meme trend quickly cooled down. However, in the Chinese community, the aftershocks of this Meme craze gradually fermented, with conflicts pointing directly at KOLs banding together to launch Memecoins and profit from others.

Take the aforementioned $Yeah as an example; within just a few hours yesterday, $Yeah experienced a rapid rise followed by a swift decline. However, this quick up-and-down price movement, combined with the unique nature of Pump Memecoins, means that only a very small number of people likely made significant profits, resulting in some being happy while others were upset. Consequently, some Twitter users pointed to the harvesting behavior of $Yeah as being likely orchestrated by certain KOLs, asserting that it was probably a harvesting action by a KOL matrix.

Is it just a case of losing money and getting carried away, or is there really something to it? Regardless of the truth, this incident has ignited a major discussion in the Chinese crypto community about KOLs using Memecoins as tools to profit from others. From yesterday to today, external attacks from retail investors and internal conflicts within KOL communities have been continuously unfolding… By the time of writing, this matter has become a new topic of discussion in various groups.

Dark and Light Harvesting, "Cabal" in Power

While on-chain records are being scrutinized, and historical controversies are being unearthed, some Twitter users have pointed out that the current outcry against the banding together to profit from others is something that has already been played out by foreigners:

A series of Western KOLs, represented by Ansem, have long mastered this seemingly "flawless" method; they simply wait for the natural chemical reactions produced by human nature and a rapidly reacting market to make easy profits, remaining invincible, at most earning a reputation as a "cabal."

As long as no evidence can be found and no logical flaws can be pointed out, who can truly accuse someone of wrongdoing?

Compared to the bloodless methods of foreign cabals, some KOLs in the Chinese community are much more straightforward and brutal:

Fundraising → Launching a project → Dumping → After the hype passes, launching again → Continuing to dump → Waiting for new "believers" to continue funding…

This direct and aggressive approach inevitably attracts a lot of criticism:

However, there is nothing new under the sun; harvesting crops does not discriminate against methods. After all, whether through financial or physical means, the ones ultimately hurt and crying are always the investors.

Has the Logic of Memecoins Changed?

Before the hype of Pump.fun, the criteria for judging the quality of Memecoins were whether the concept itself was a Nice Ticker; from the perspective of participation, it felt somewhat relatively mid-to-long term, as good concepts could inspire thoughts of "retention and development."

Now, the criteria for judging Memecoins have shifted to how much smart money is involved in buying and how significant the KOLs promoting them are… This naturally leads to the current Memecoin lifecycle becoming shorter and the PvP phenomenon intensifying.

The logic of "take the profit and run" is gradually replacing the diamond hands mentality. Speaking of this shift in operational logic, just looking at the crypto market, doesn’t it resemble the phenomenon where people immediately sell off their unlocked or airdropped shares when they lose confidence in a project? Whether it’s large, medium, or small investors, they are all gradually understanding the PvP truth of "selling out means eternal profit, not selling means true zero," and the market's faith in Memecoins is also gradually dissipating.

Previously, the indicator of a market peak was the chaotic flying of homogeneous small caps, with players rushing to buy as soon as they saw a CA, just to feel good for a moment. Now, those looking to profit from new projects no longer need to tirelessly market across various groups; a one-click launch platform combined with countless smart money bots on-chain has made harvesting convenient and automated.

Unknowingly, the logic of participating in Memecoins has shifted from "playing Memes to avoid being harvested by VCs" to "running ahead of others to avoid being harvested by Memes."

When Memecoins also become harvesting tools in the eyes of others, how long will the genuine, loyal heat of this sector last? Will the cultural core representing fairness and freedom gradually be forgotten in the ongoing PvP battles?

The answer remains unknown, but it is evident that making money is becoming increasingly difficult.