The Setup: Keeping Everyone Guessing

The strategy kicked off with a big secret: no one knew how much of the token supply would be allocated to each trading venue. This lack of transparency set the stage for some serious market maneuvering. Delta neutral funds—fancy traders who balance their bets to avoid risk—started shorting the token around the 5 billion mark. Their goal? Lock in the price difference between the spot market and perpetual futures (perps).

Mosi points out that sophisticated players moved their money to Bybit, the go-to exchange for this ICO due to its low latency. But here’s the twist: many orders didn’t get filled on the exchanges. This left the delta neutral folks scrambling to cover their shorts, while on-chain traders snagged easy fills. It’s like a game of musical chairs, but with crypto!

Creating Fake Scarcity

With the demand side sidelined on exchanges, the only way to get long exposure (betting the price will go up) was through perps—since the token wasn’t yet tradeable on the spot market. This move artificially limited supply, creating what Mosi calls “fake scarcity.” It’s a brilliant tactic that ramps up hype and drives prices higher as traders chase the limited availability.

The thread suggests this wasn’t just luck. Noah and Alon seem to have orchestrated this to perfection, forcing a short squeeze where those shorting the token had to buy back in at higher prices. Talk about a power play!

Reactions from the Crypto Community

The X thread sparked a flurry of reactions. Some, like @LuckyXBT__, gave a big “high clap” for the execution, calling it flawless. Others, like @Genia_XBT, weren’t so sure, suggesting it might have been more disorganized than intentional. @SplitCapital even chimed in with a skeptical “I’m unconvinced this was intentional,” while @chamathsintern roasted the delta neutral funds for hedging without a solid spot market.

It’s clear this move stirred the pot! Some see it as a retail market domination masterclass, while others think it’s just chaos with a lucky outcome. Either way, it’s got everyone talking.

What This Means for Meme Coin Launches

So, what can blockchain practitioners take away from this? First, controlling information—like how much supply goes where—can be a game-changer. Second, leveraging exchanges like Bybit for speed can give you an edge. And finally, understanding market dynamics like short squeezes can help you navigate (or even exploit) these wild launches.

Meme coins, as Investopedia reminds us, thrive on hype and speculation. This strategy aligns perfectly with that ethos, turning a simple token launch into a high-stakes chess match. Whether you’re a trader or a creator, keeping an eye on these tactics could level up your game.

Final Thoughts

Noah and Alon’s launch strategy is a fascinating case study in the meme coin space. It’s a mix of clever planning, market psychology, and a bit of luck—depending on who you ask! At Meme Insider, we’re all about breaking down these stories to help you stay ahead. What do you think—genius move or happy accident? Drop your thoughts in the comments!