Speak trench.
Politely.

The low-cap, freshly launched end of the market. Thrilling, chaotic, and rarely forgiving. Dress accordingly.

One who lives in the trenches. Usually sleep-deprived, occasionally brilliant.

A trader who embraces high risk with open arms. Every one of them needs a gentleman nearby.

Someone who sells the moment they're up a few percent — often directly onto your entry. Not illegal, merely impolite.

Holding through volatility with conviction. Admirable with a thesis, tragic without one.

Selling at the first sign of trouble. Sometimes cowardice, sometimes the wisest move in the room.

When insiders drain liquidity or dump their supply, leaving holders with a chart shaped like a cliff.

A launch where the creator buys supply across many wallets in the same block to disguise how much they control.

A bot or wallet that buys within the first seconds of launch, often to sell into the crowd that follows.

The creator's wallet. Watch what it holds, what it sells, and what other wallets it funded.

Wallets connected to the team that acquired supply early. Check funding sources — they tend to share a parent.

How much of the supply sits in the top wallets. A handful holding most of it is a loaded pistol on the table.

A pricing formula where each buy raises the price and each sell lowers it, before a token has a traditional pool.

When a launchpad token completes its bonding curve and liquidity moves to a regular exchange pool.

Price × supply. A number about perception, not about how much money you can actually get out.

The assets in the pool you sell into. Thin liquidity means your exit moves the price against you.

The difference between the price you expect and the price you get. Set it high and someone will happily take it.

Community takeover. The dev left; the community picked up the flag. Occasionally a renaissance.

A coordinated group moving a token together. Real ones rarely announce themselves.

Traders competing directly against each other for the same exits. Someone's profit is someone's loss.

When a token grows from new money arriving rather than holders fighting each other. Rarer, and pleasant.

Committing fully to a trade or a pump. Gallant. Please size accordingly.

Belief in a position strong enough to hold through noise. Should come with an invalidation point.

Watching a profitable trade return to break-even or worse. A rather expensive lesson.

Fees paid to a token's creator from trading activity on some launchpads. Aligns incentives — or funds the next launch.

A separate wallet holding only what you're willing to risk today. Your main savings never touch the trenches.

The master key to your wallet. Nobody legitimate will ever ask for it — including me.

A malicious site or signature request that empties your wallet. Read what you sign; reject what you don't understand.

Selling part of a winner. The habit that separates veterans from storytellers.

The buyers early holders sell to. If you can't tell who it is, consider that it may be you.