Glossary
The words of the trenches, in plain English.
Every term memecoin traders use, defined in a sentence first and then explained. Each page links to the lesson where you can practice it with fake SOL.
Rug pull
A rug pull is when the people behind a coin take the money out and leave holders with tokens that cannot be sold. On Solana memecoins it usually happens as a liquidity pull, a dev dump, or a honeypot.
Bundle
A bundle is a group of wallets, usually controlled by one person, that buy a coin together at launch. It looks like many holders on the chart, but it is one holder who can sell into any pump.
Sniper
A sniper is a bot that buys a new coin in its very first block, sometimes in the same transaction as the launch. Snipers get the lowest price and sell into the traders who arrive after them.
Dev wallet
The dev wallet is the wallet that created a coin. It often still holds a large share of the supply, and what that wallet does next is one of the biggest risks to anyone who buys.
Bonding curve
A bonding curve is a formula that sets a new coin's price from how much SOL has been put into it so far. Every buy pushes the price up and every sell pushes it down, until the curve fills and the coin moves to a real pool.
Migration
Migration is the moment a launchpad coin's bonding curve fills and its SOL and tokens move into a real pool on an automated market maker. From then on it trades like any other coin, with pool liquidity instead of a formula.
Slippage
Slippage is the difference between the price you were quoted and the price your order actually fills at. A slippage limit tells the trade to fail instead of filling if the price moves against you by more than you allowed.
Priority fee
A priority fee is extra SOL you attach to a transaction so Solana's validators process it ahead of others. It is paid whether or not your trade succeeds, on top of the tiny base network fee.
KOL
A KOL, short for key opinion leader, is an account with a large audience that posts coins to buy. Some are honest, and many buy before posting and sell into the followers who buy after.
Market cap vs liquidity
Market cap is price times total supply, a paper value that shows how big a coin looks. Liquidity is the SOL actually sitting in the pool, which decides whether you can sell. A coin can have a huge market cap and almost no way out.
Holders
Holders are the wallets that currently own a coin's tokens. The holder count shows how many wallets there are, but what matters more is how the supply is spread across them.
Contract address (CA)
A contract address, usually shortened to CA, is the unique identifier of a coin on Solana. Names, tickers and logos can be copied by anyone. The CA cannot, so it is the only reliable way to know which coin you are trading.
Simulated trading. Not real money. Not financial advice.