HootTracker was a Telegram bot I developed to provide in-depth analytics on Solana wallet activity. Its primary purpose was to assist users in evaluating whether a specific wallet owner was worth copying using any copy-trading bot. By analyzing various on-chain metrics, transaction patterns, and behavioral data, the bot helped users make informed decisions based on a wallet's performance and activity.
The development journey of HootTracker was both exciting and enlightening. It offered me an insider's view into the world of crypto investors, particularly within the Solana ecosystem. I uncovered numerous trading strategies, tips, and even blockchain-specific leaks. Through the bot, I was able to track high-performing "whales" who were consistently generating hundreds of thousands of dollars daily by trading meme coins. Additionally, the bot was instrumental in detecting manipulative actors using MEV (Miner Extractable Value) techniques, especially the notorious "sandwich attack" method.
HootTracker quickly proved to be one of the most powerful tools of its kind. However, despite its success and popularity, I made the decision to shut down the bot for ethical reasons. Meme coin trading, while potentially lucrative, is highly speculative and volatile. In many cases, the majority of participants were incurring significant losses.
Even when copying highly successful wallets, several technical and strategic factors often led to failed trades for copiers. For instance, in meme coin trading, seconds can determine profitability. A whale might enter or exit a position during a favorable price candle, while the copy-trading bot may take between 3 to 7 seconds to replicate the trade. In such a fast-moving market, this delay often meant entering an entirely different trade outcome.
Moreover, some whales became aware that their wallets were being copied. In response, they began manipulating their trades—pumping and dumping coins quickly to absorb copier funds. In other cases, these whales used sniping techniques to enter trades in the first second of a coin launch, paying high transaction fees to secure early positions. By contrast, the average copier using HootTracker paid lower fees and faced slower transaction approvals due to blockchain congestion, sometimes taking up to 30 seconds. This delay could cause copiers to enter after a pump or even post-rug-pull, leading to substantial losses.
After observing a consistent pattern of these disadvantages affecting our users, I came to the conclusion that continuing the service would be ethically irresponsible. I decided to shut down HootTracker and recorded a video message for the community, explaining my reasons for this difficult choice. I was deeply touched by the overwhelmingly positive and understanding response from users. Additionally, I personally reached out to all active paid members and refunded their subscriptions in full.
The HootTracker project was a valuable experience that deepened my knowledge of blockchain analytics, user behavior, and ethical software development. I'm proud of what was achieved and grateful for the lessons learned along the way.
