Recently, I saw a wave of old coins surging on Solana. At first glance, it was pretty exciting, but a closer look revealed traps everywhere. Those memecoins with astonishing gains are mostly just plays by whales and hype teams.

For example, $FISH has increased over 1200%, sounds amazing, but the top 10 holders control nearly a quarter of the tokens, with one whale holding 8%. Liquidity is only 14% of the market cap, so if they run away, there's nowhere to sell. This isn't a rebound; it's a dead cat bounce. $MEMECOIN is similar—though the gains are milder (+67%), the concentration is even higher, with 27.8% held by the top 10, making "organic growth" just a bluff.

But I found a different signal—$JELLYBEAN. This one surged 3780%, which looks crazy too, but the token distribution is relatively healthy. The top 10 holders only own 17.4%, and liquidity is spread across more than 15 pools. Market cap is $3.18 million, 24-hour trading volume is $17.9 million, and buy pressure reaches 55.7%, indicating genuine off-chain funds are entering.

I gradually understood that when the token holders of these zombie coins are sufficiently dispersed, they can trigger real capital rotation. After risk adjustment, a healthy distribution structure is far more important than just the percentage gains. Now I think about it, what other memecoins on Solana show this kind of healthy holder distribution? It's worth spending time to filter.

Of course, doing research and making your own judgment always comes first; I’m just sharing my observations.