Murad Mahmudov: Nine Metrics to Evaluate Meme Coin Decentralization

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by Giorgi Kostiuk

2 years ago

Meme coin analyst Murad Mahmudov has released a statistics table featuring nine metrics designed to measure the level of decentralization in meme coins.

Murad Mahmudov and His Metrics Table

On November 29, Murad unveiled what he calls 'the most important meme coin statistics table I have ever compiled.' This table showcases nine metrics aimed at evaluating the decentralization of the leading meme coins in the market.

Measuring decentralization of top meme coins from nine different angles. The blockchain doesn’t lie.Murad Mahmudov

What Murad's Metrics Entail

Murad's table features the following metrics: median holder rank, Herfindahl-Hirschman index, HolderScan distribution score, percentage of tokens held by the top 100, 25, and 10 holders, the portion of wallets with more than $1,000 worth of tokens, and the percentage of new wallets created within the first week of a token’s launch.

Applying Metrics to Meme Coins

Murad's metrics assist in assessing whether a meme coin is sufficiently decentralized to consider investing. For instance, SPX6900 holds the top spot in decentralization with a median holder rank of 181, HHI of 29, and a 16.8% top holder concentration. In contrast, MOODENG has a top holder concentration of 33.5%, indicating more centralization.

Murad Mahmudov advocates for paying attention to meme coin decentralization using his nine metrics to evaluate investment risks.

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