Presale Oversubscribed by 5x, Can PAIN Save the Meme Market?

\"NO PAINS, NO GAINS\", the Boomer Coin has finally launched!

On February 11, the Meme project PAIN's official social media post stated, "80% of refunds will be sent to eligible wallets before the PAIN token starts trading, PAIN will also be airdropped to eligible wallets, and the project will publish the official contract and tokenomics on X and the internet, with no claiming links." In the early hours of today, 80% of the 185,976 SOL raised by PAIN has been successfully refunded, and all funds sent after block 318346069 (the end of PAINSALE) have also been returned.

According to community members, with an 80% refund before PAIN's listing, there is currently nearly a 4x return. "In other words, if you invested 100 SOL, you will get back 80 SOL, and the airdropped coins can currently be sold for close to 80 SOL." However, if you did not stay up all night, you are unlikely to achieve this multiple return, as PAIN's market cap has dropped from a high of 2.3 billion USD to 1.8 billion USD. Nevertheless, the hype continues, and as of the time of writing, PAIN's market cap has risen to 2.5 billion USD.

Seeing this kind of candlestick chart really gives me some PTSD. How does this differ from the trend of the Argentine President Coin LIBRA?

But perhaps these two are really different. The main reason for PAIN's high opening price is that there were too many snipers rushing in at the opening, quickly buying before the team injected enough liquidity, with transactions happening so fast that most of the market makers' liquidity had not fully reached the chain, causing a temporary supply-demand imbalance in the market.

In this situation, although some sniper bots successfully placed buy orders, there were not enough sell orders in the market to match. One sniper even placed a sell order at a price of 22 billion USD and was bought by other bots, causing a brief extreme fluctuation in the market price. At this time, PAIN's presale investors had not yet received the airdrop, and there was not yet an effective liquidity supply in the market.

During this process, some people suffered losses. According to LookIntoChain monitoring, this sniper paid a fee of 2,501 SOL (430,000 USD) and spent 15,000 SOL (2.58 million USD) to snipe 107,212 PAIN. He then sold all 107,212 PAIN for 14,961 SOL (2.57 million USD), resulting in a loss of 2,540 SOL (436,000 USD).

As the liquidity providers gradually completed the deployment of buy and sell orders, and all presale participants received their airdrops, the market price gradually returned to normal levels. However, some front-running bots suffered losses due to liquidity issues, causing a market price adjustment.

Tokenomics Interpretation

According to official sources, PAIN's prototype figure Harold himself will have his token share locked for 20 years until it unlocks in 2045.

Its tokenomics model shows that the total supply of PAIN is 10 million tokens, with 50% allocated to Harold himself, 20% for the presale, 15% for liquidity, 10% allocated to the community, and 5% allocated to partners.

In addition to the 50% of PAIN held in Harold's position being locked, a total of 15% of the tokens allocated to the community/partnership have not been transferred or sold.

The main liquidity pool distribution for PAIN is as follows: currently a total of $11.37 million in liquidity has been injected (accounting for 82% of the main liquidity pool under a 1% fee), including 129,000 PAIN and 52,490 SOL, with unclaimed fee income amounting to a high of $344,000. Currently, only the [0.104251 - 0.205086] price range is still in effect, equivalent to [$17.88 - $35.20] in USD, while the rest of the positions are temporarily inactive.

However, as is well-known, meme coins do not equate to fairness. According to @ai_9684xtpa monitoring, the address DjTrV...1a24a dumped 107,212 PAIN tokens at an average price of $23.66, tracing the source of the funds back to a team presale-associated address rather than the 20% holder address that received the airdrop. The token was dumped after three transfers and has since sold tokens worth $2.53 million in the past 7 hours.