# Memes

Meme tokens are one of the biggest sources of volume in tokenised stock pools, and rangebound tracks them for that reason.

## Why memes matter to an LP

Launchpads such as StonkFun and pump.fun let anyone launch a token paired against a tokenised stock instead of SOL. Buying that meme means buying the stock token first, and selling it means selling the stock token after. Every meme trade routes through the stock's own pools.

That flow is valuable to LPs. Meme traders aren't trading on news about the stock or on a stale pool price, so their fees are mostly profit for LPs rather than a payment for being picked off. A stock with busy memes can see more swap volume from its memes than from direct traders.

## What counts as a meme

rangebound counts a token as a meme of an asset when all of these hold:

1. **It has graduated.** It left its launchpad's bonding curve and has a regular pool quoted in the stock token, on Raydium, PumpSwap, Meteora or Orca.
2. **It is tied to that asset.** It came from a launchpad, or it trades against this one asset only. A general token that happens to have pools against a dozen stocks isn't counted as a meme of any of them.
3. **It is real.** At least $10,000 of liquidity and at least 100 holders.
4. **It isn't a honeypot.** See [Honeypot screen](honeypot-screen.md).
5. **It is worth at least $100,000** in market cap, to count towards the columns.

Tokens that are merely named after a stock but trade against SOL or USDC are not counted: their trades never touch the stock's pools.

## Where memes appear

- **Assets**: **Meme mcap** adds up the market cap of an asset's counted memes, and **≥$100k** and **≥$1M** count them. Hover the market cap for the largest memes.
- **Pool page**: the header strip names the two largest memes against the asset.

## How fresh the numbers are

| What | How often |
|---|---|
| Market cap, liquidity, holders and volume of every tracked meme | Every 5 minutes |
| New graduations on Raydium | Every 10 minutes |
| New graduations on PumpSwap | Every 15 minutes |
| New pools on Meteora and Orca | Every 6 hours |
| Honeypot screen of each token | Daily |

## Alerts

rangebound sends alerts when a meme graduates against a tracked asset, when a meme first crosses $100,000 or $1,000,000 in market cap, and when a meme's hourly volume spikes. See [Alerts](../alerts.md).

## Why this can move a pool's numbers

A meme's volume spike shows up in its stock's pools within minutes: more volume, more fees, and often a better vol ratio. When a pool's fees jump for no reason on the stock itself, check its memes first. [Follow the meme flow](../playbooks/follow-the-meme-flow.md) turns this into a routine.