Metric Decoder
What every value means — and where the line isWhen you open a token on GMGN or read one of our scanner alerts, you see the same handful of numbers over and over. Here is what each one tells you, and the rough thresholds we use to separate a token worth a look from one we skip. Numbers are guidance, not gospel — context always wins.
Market
| Metric | What it means | Looks good | Red flag |
|---|---|---|---|
| Market Cap (MC) | Price × circulating supply — the token's total size. | Room to grow; you understand why it's where it is | Already huge with no narrative, or so tiny it's a single buy from zero |
| Liquidity (LIQ / LP) | Money in the pool you actually trade against. | Deep enough to enter/exit without massive slippage | Thin LP — you can't sell without nuking the price |
| Liq ÷ MC | Liquidity as a share of market cap. Our floor is ~2%. | Healthy ratio — exits are realistic | <2% — MC is inflated vs real money in the pool |
| Volume (Vol5m / 1h / 24h) | Traded value over a window. We also watch Vol-to-MC. | Real, rising volume; multiple x of MC = live interest | Dead volume, or 100% wash with no holder growth |
| Holders (H) | Number of wallets holding. Growth matters more than the count. | Climbing steadily alongside volume | Flat/falling, or a handful of wallets only |
| Age | How long the token has existed. | You know the stage you're buying (fresh vs established) | Brand-new with whale concentration = snipe risk |
Security
| Metric | What it means | Looks good | Red flag |
|---|---|---|---|
| Honeypot | Whether you can actually sell after buying. | "Low risk of honeypot" / sellable | Can't sell — total loss. Hard reject. |
| Mint authority | Can the dev print more supply? | ✅ Mint off / revoked | Mint still on — supply can be inflated |
| Freeze authority | Can the dev freeze your wallet? | ✅ Freeze off | Freeze on — they can lock your tokens |
| Contract verified | (EVM) Source code published & readable. | ✅ Verified | Unverified — blind trust. We reject these. |
| Ownership renounced | (EVM) Dev gave up admin control. | ✅ Renounced | Owner can still change rules/taxes |
| Buy / Sell / Transfer tax | (EVM) Fee taken on each action. | 0% / low and symmetric | High or asymmetric tax; transfer-pausable |
| LP burnt / locked | Can the dev pull liquidity (rug)? | ✅ Burnt or 100% locked | Unlocked LP — rug risk |
Distribution
| Metric | What it means | Looks good | Red flag |
|---|---|---|---|
| Top 10 (TOP10) | % of supply held by the 10 biggest wallets. | Lower & spread out | High concentration — a few wallets can dump on you |
| Top 70 (TOP70) | Wider concentration picture. | Gradual, not cliff-like | Whales own most of the float |
| Bundle (BND) | % bought together at launch (often one entity in many wallets). | Low | High bundle — coordinated launch, dump risk |
| Snipers | Wallets that bought in the first blocks. | Low / already exited cleanly | Heavy sniper bag waiting to dump |
| Fresh (Fresh%) | Brand-new wallets holding — can signal farmed demand. | Low | High fresh% — manufactured holder count |
| Funder cluster | Many "holders" funded from one source wallet. | Independent funders | Shared funder = one actor faking a crowd |
| Dev holding | % the creator still holds. | Modest / locked | Dev holds a big bag they can dump |
| Dev history | How many tokens this creator has launched before. | Clean / few | Serial launcher (hundreds of tokens) = serial rugger |
Momentum & Social
| Metric | What it means | Looks good | Red flag |
|---|---|---|---|
| Buy/Sell (B/S) | Ratio of buys to sells in a window. | Buys leading sells | Sells dominating — momentum rolling over |
| Velocity (Vel %/m) | How fast price/activity is moving per minute. | Strong positive on a real move | Vertical spike with no liquidity = exit trap |
| ATH / ATL | All-time high & low. Drawdown from ATH matters. | Near a base, not extended | Deep below ATH or buying the exact top |
| Smart money (Smart 🧠) | Wallets with a profitable track record holding. | Several smart wallets in | Zero smart money on a "hot" call |
| Callers (C / channels) | How many caller channels posted it (24h). | Multiple independent callers converging | One paid shill, or sudden swarm = coordinated pump |
| Organic (Org) | Our score of how organic the social interest is. | Higher = real chatter | Low Org + high hype = manufactured |
| Bot % | Share of activity that looks automated. | Low | High bot% — fake liveliness |
Alert Types Decoded
Read every Blackhat Telegram alert, value by valueThe Blackhat SOL and EVM groups run dozens of topic feeds, each a different scanner. They look like noise until you know the format. Below is every family of alert, a real (sanitised) example, and what each field is actually telling you. Use these alongside the Metric Decoder above.
Single Buy (SB)
Single-Buy Swap
SOL SB #1/#2/#3 · ETH SB · EVM SB2One tracked wallet bought one token. The earliest signal — least confirmation, highest noise. Treat as a lead, never a buy on its own.
SB Filtered (with safety)
SOL SB #3 · EVM SB2 (filtered)A single buy that already passed a safety pass — note the inline ✓ checks. Still one wallet, but the contract risk is pre-screened.
Multibuy
Multibuy (count)
SOL MULTIBUY 80K+/DEGEN · BSC/ETH/BASE MB FRESH/MID/LARGESeveral tracked wallets bought the same token inside the same window. This is the core Blackhat signal: independent wallets converging is far stronger than one buy. The number in front = how many wallets.
Multibuy AI (full scan)
SOL MULTIBUY AI (3658280) · EVM MB AIA multibuy that's been run through the full safety + distribution + momentum scan. The richest single alert — basically the Metric Decoder applied automatically.
XTRACK (performance tracker)
XTRACK "did Nx"
XTRACK SOL · XTRACK EVM · XtrackX / XTRACK LIGHT (short form)Tracks a token we already flagged and reports when it multiplies. Shows the before → after on every metric, so you see whether the move is backed by real holder/liquidity growth or just price.
Callers
Callers tiers
CALLERS 5+ / 10+ / 20+ / 30+ / 50+ · DEGEN · RECENT · BSC tiersCounts how many caller channels are posting a token. The tier (5+, 10+ …) is the threshold of independent channels. More callers = more eyes, but a sudden swarm can be a coordinated pump — cross-check distribution.
Callers — Top 25 Recent
CALLERS RECENTAn hourly leaderboard of the most-called tokens. Good for spotting what the caller crowd is rotating into right now.
Hype Alerts
HYPE — Soft / Standard / High Conviction
HYPE1 SOFT · HYPE2 STANDARD · HYPE3 HIGH CONVICTION · CALLERS HYPE / BSC HYPEOur composite "something's happening" score. The tier escalates with conviction (🟡 Soft → 🟠 Standard → 🔴 High Conviction). The A/B/C/D sub-scores break down why it fired.
Boost & KOL
BOOST
SOL BOOSTTracks paid "boost" activity on a token plus a quick distribution snapshot. Boosts are marketing spend — useful as attention signal, not as quality.
KOL FOMO
SOL KOL FOMOCounts key-opinion-leader wallets piling into a token, plus net KOL inflow. Big KOL inflow can front-run a move — but KOLs also dump on followers.
4MEME (BSC launchpad tiers)
4MEME MC tiers & states
BSC 4MEME 15K/30K/45K/60K · MIGRATED · DEXPAID · Volume AlertTracks BSC's 4meme launchpad tokens as they cross market-cap milestones (15K→60K), migrate to a DEX, pay for DEX listing, or spike on volume. The MC tier is just the milestone the token crossed.
Rescan (BH Score)
"Whales aped" rescan
MB ALL RESCAN · BSC RESCANRe-scans tokens that already moved and assigns a Blackhat Score out of 100 with a verdict. The number in front is the real count of large ("whale") wallets that bought.
AI Wallet Alerts
Accumulation, funding & FOMO
SOL AI ALERTS · ETH AI · BASE AIBehavioural signals from wallet tracking: top holders accumulating, fresh wallets being funded then buying, or clusters of FOMO buys. These read intent, not just price.
Avoid / Rejected
Rejected token
EVM AVOID TOKENSThe blocklist feed. These already failed a safety check. If a token shows up here, the work is done — don't buy. The reason tells you exactly why.
The Survival Rules
The checklist before every buyNo alert replaces these. Run them top to bottom before you size in. They won't make you right every time — nothing does in memecoins — but they keep one bad token from ending your run.
Can you sell it?
Honeypot check first, always. If you can't exit, every other metric is irrelevant. "Low risk of honeypot" / sellable is the gate.
Verified & renounced (EVM)
On EVM, an unverified contract or un-renounced ownership is an automatic skip. The dev can change the rules under you. No exceptions.
LP burnt or locked
Unlocked liquidity means the dev can pull the pool and rug. Want ✅ burnt or 100% locked before you touch it.
Mint & freeze off (SOL)
Mint authority on = supply can be printed. Freeze on = your wallet can be locked. Both should be revoked.
Check the distribution, not just the chart
High Top-10, heavy bundle, or fat sniper bags mean a handful of wallets can dump on you. A pretty chart with 96% in ten wallets is a trap.
Hunt the funder cluster
Twenty "different" wallets all funded from one source is one actor faking a crowd. Real convergence comes from independent wallets.
Liquidity vs market cap
If LP is under ~2% of MC, the cap is inflated and you can't exit at the price you see. Thin pools punish size.
Look at the dev's history
A creator who has launched hundreds of tokens is a serial launcher. Past behaviour predicts the next rug.
Organic over hype
High hype score with low Organic and zero smart money is manufactured attention. Want independent callers and real chatter converging.
Size for zero
Assume any memecoin can go to zero — most do. Position so a total loss doesn't matter, and take profit on the way up. Survival beats being right.
Ready to put it to work? Pull any token up on GMGN — security, holders, distribution and the live chart sit in one view, exactly the fields decoded above.