In the fast-paced world of meme tokens on Solana, where fortunes can flip in minutes, savvy liquidity providers (LPs) are always hunting for edges. A recent thread from the LP Army community on X highlights a bold approach shared by @TheSolchief during Meteora's Advanced Bootcamp #5. This "multi-day degen" strategy targets emerging tokens with real momentum, blending risk with calculated plays to potentially rack up fees over days instead of hours. If you're into meme coins and want to level up your LP game, this breakdown is for you.

Let's unpack what makes this strategy tick. Unlike conservative multi-day LP setups on stable assets, the degen version dives into volatile, low-market-cap tokens—think those sitting between $1 million and $5 million in market cap. These are often fresh meme launches on Solana that haven't hit the big leagues yet but show signs of explosive growth. TheSolchief emphasizes sticking to a minimum 24-hour hold, giving the position time to capture fees from sustained trading activity.

The entry point revolves around volume metrics. He scans for tokens pumping at least $50,000 in volume over a five-minute window, using tools like Dexscreener or similar platforms (he mentions "Job Pro," likely referring to a pro version of a DEX aggregator or scanner). This short-term spike signals immediate interest, but he doesn't bother with complex technical analysis—just raw buying and selling pressure on five-minute or one-hour charts.

But here's the crucial twist: not all volume is created equal. In the meme token space, fake volume from bots or volume farms can lure in unsuspecting LPs, only to rug them later. TheSolchief credits @kkelebek76 for a simple hack to spot the real deal—check the total fees paid on platforms like GMGN.ai. If a token boasts sky-high volume but the accumulated fees are suspiciously low (say, just a few dollars), it's probably artificial. Bots trading back and forth avoid real costs, keeping fees minimal. On the flip side, organic volume from genuine traders racks up substantial fees, indicating legit community buzz.

For example, imagine spotting a new cat-themed meme token with $100k in five-minute volume but only $5 in total fees on GMGN. Red flag—skip it. But if fees are pushing $500 or more alongside that volume, it might be worth LPing, especially if the market cap fits that $2m-$5m sweet spot mentioned in the thread.

This approach ties perfectly into Meteora's Dynamic Liquidity Market Maker (DLMM) pools, which allow for more flexible positioning compared to traditional AMMs. By providing liquidity in these pools, you earn a share of trading fees while the token (hopefully) moons. Of course, degen strategies come with risks—price dumps, rugs, or fading hype can erode your principal. Always DYOR (do your own research) and only LP what you can afford to lose.

The original thread from @met_lparmy quotes Meteora's post with a video clip of TheSolchief in action, demoing his screen and metrics. It's a goldmine for visual learners, showing real-time scans and fee checks. If you're part of the LP Army or following MeteoraAG, tuning into their bootcamps could unlock even more advanced tactics.

Whether you're a seasoned Solana degen or just dipping into meme token LPs, incorporating these volume verification steps can help filter out noise and focus on high-potential plays. Stay vigilant, keep scanning, and who knows—you might just catch the next big meme wave.