Many degens playing meme coins often make a big mistake when looking for "smart money wallets" to follow — they see a wallet with high PNL and think it's a magical wallet worth following.
But that's not necessarily the case, because it could very well be "insider trading (insider wallet)."
An insider wallet is generally a wallet belonging to the project team or friends and family of the developers; these wallets usually only go all in on their own tokens, making a quick profit and then leaving.
For example, this case👇
Wallet: 0x94ac8db4954d5af30410fb30a80ab024e22eaa1c
Top PNL records:
$BNBHolder: PNL +1.8M
$ZK: PNL +11K
Besides these two, it hardly made any other trades, like $4 and $Giggles, which yielded no returns at all.
➡️ So following such wallets is meaningless; you won't learn anything.
The smart money worth following should be "real degens,"
who participate in many trades, have a natural trading style, and achieve long-term stable profits; only such wallets have reference value.
Moreover, you need to analyze their trading style.
For example👇
Wallet: 0x88ef935f47bb96f1e7af21c47b42f9cc21227cde
Although the PNL isn't high, it has participated in many projects and is the kind of old player who is genuinely active in the market.
In contrast, insider wallets usually only appear in one or two specific projects and don't have ongoing operations.
Putting such wallets on your watchlist is purely a waste.
🧠 So how do you find wallets that are truly worth following?
Three simple steps:
Step 1: Open GMGN and search for the coins that have recently surged the most.
Step 2: Go to 【Top Trades】 and sort by PNL from high to low.
Step 3: Click in to analyze:
What trades have they made before?
What does the PNL curve look like?
Is it a diversified layout or precise execution?
Do they prefer to buy the dip or chase the rise?
What market cap range do they operate in?
After clarifying these points, categorize and name the wallets, and decide whether to follow based on their trading style.
👉 Following trades also requires thought,
Don't be fooled by "farm wallets."
Smart following is the way to truly make money.
#BNB holder
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