We Scanned 819 Tokens This Week. 23 Survived.

Weekly Drill Report for March 24, 2026. Drill scanned 819 Solana tokens this week. Only 23 passed, selection rate dropped to 2.8%, and the market is cooling fast.

Alex•

March 24, 2026

5 min read

We Scanned 819 Tokens This Week. 23 Survived.

Drill scanned 819 new Solana tokens this week. It approved 23 of them. That's a 2.8% selection rate, and it's nearly half what it was last week.

The market is cooling. The numbers don't lie.

Let me walk you through what happened, who won, who got filtered out, and what this means if you're trading this week.

The Big Picture: Everything Is Down

Here's the week in three numbers: trading volume dropped 25% compared to last week. The selection rate fell from roughly 5.8% down to 2.8%. And the median outcome for tokens that DID pass Drill's filters? Just 1.4x.

That median number is important. It means if you bought a random Drill-approved token this week and sold at its best moment, you'd have made 40% on average. Not 10x. Not 5x. Forty percent, and that's the median for the tokens that passed, not the ones that got rejected.

For context, the 30-day median is 2.1x. So this week's picks underperformed the longer trend by a significant margin.

Out of those 819 tokens, 791 got hard-rejected (Drill's way of saying "this token has critical security problems, don't touch it"). That's a 96.6% hard-rejection rate. Five more got soft-rejected for non-critical issues. The remaining 23 made the cut.

This Week's Winners

Not everything was grim. A few tokens put up real numbers.

BAGWORKOOR (THE BAGWORKOOR) was the standout pick, hitting 10.17x from its selection price. But here's the thing nobody tells you about a 10x: it took nearly 10 hours to get there. If you weren't watching at the right moment, you missed it entirely. At selection, its market cap was about $98,500 and the top 10 wallets held around 16% of supply, which is in the healthy range.

Feels (How It Feels) came in at 4.26x in just 86 minutes. Much faster, much more tradeable. Market cap at selection was about $71,000 with top 10 holders at around 20%. That's still within the healthy zone, but pushing toward the upper end.

Smoklon (Smoking Elon) rounded out the top three at nearly 3x, taking about 4 hours to peak. Notably, this token had the cleanest wallet distribution of the top performers, with the top 10 wallets holding only about 6.5% of supply.

The pattern here: the best pick of the week (BAGWORKOOR) was slow. The second best (Feels) was fast. There's no single "winning speed." But more on that in a moment.

The PumpSwap Shakeup

This was a big week structurally for the Solana memecoin ecosystem. Pump.fun launched PumpSwap on March 20, its own decentralized exchange (DEX). Previously, tokens that graduated from Pump.fun's bonding curve would automatically migrate to Raydium. Now they go to PumpSwap instead.

What does this mean for you? A couple of things.

First, the 6 SOL migration fee is gone. Tokens now graduate for free. Second, Pump.fun is keeping its liquidity in-house rather than sending it to a competitor. And third, the numbers in this week's Drill data reflect the very beginning of this transition.

Looking at platform stats, Pump.fun still dominates: 791 of the 819 tokens Drill tracked this week came from Pump.fun. Raydium LaunchLab contributed 20 tokens (zero selected), and Meteora DBC had 8 tokens (also zero selected). The 2.91% selection rate on Pump.fun tokens is low by historical standards, but it's infinitely better than the other two platforms' combined zero.

The Bonding Speed Sweet Spot

Here's something interesting buried in this week's data. Drill tracks how fast tokens complete their bonding curve (the price mechanism that determines the initial price as more people buy in) on Pump.fun. We bucketed every selected token by bonding speed and looked at outcomes.

Bonding speed analysis showing the 5 to 15 minute window as the sweet spot for token outcomes

Tokens that bonded in under 5 minutes averaged 1.48x. Tokens that bonded in 5 to 15 minutes? 3.05x average, with the best performer hitting 10.17x. Tokens that took 15 to 30 minutes settled at 1.55x. And the 30 to 60 minute range averaged 2.14x.

The sweet spot was clearly the 5 to 15 minute window. Not the fastest launches. Not the slowest. The ones right in the middle.

Why? Tokens that bond instantly (under 5 minutes) often get dominated by snipers and bots who front-run everyone else. By the time a regular trader sees it, the easy gains are taken. Tokens that take too long to bond often lack the momentum to sustain a rally. The 5 to 15 minute window seems to indicate genuine organic interest without the bot-dominated chaos of instant launches.

This is one data point from one week, so don't carve it in stone. But it's worth watching.

Holdings: What Healthy Looks Like

Among the 23 tokens that passed this week, here's how the wallet distribution looked on average: top 10 wallets held about 18% of total supply. Bundlers (wallets that buy in coordinated groups, often a red flag) held about 8.5%. Dev wallets held just 0.07%. Insider wallets sat at 1.8%, and snipers at about 1.15%.

That top 10 number (18%) is solidly in the healthy range. The bundler number (8.5%) is worth watching, it's above the 5% "comfortable" threshold but below the 15% danger zone. Dev holdings at 0.07% is essentially zero, which is ideal.

Compare that to the industry average. External research suggests that on platforms like Pump.fun, the vast majority of tokens have far worse distributions. When Drill rejects 96.6% of tokens, wallet concentration is one of the biggest reasons why.

What This Means for Your Week

The market is quieter than it was two weeks ago. Fewer tokens launching, fewer passing Drill's filters, lower returns on the ones that do pass. The trend narrative from the data reads: "Token volume is down 3% week-over-week, selection rate dropped from 5.81% to 2.81%, median multiple for selected tokens is down to 1.4x."

That's not a crash. It's a cooldown. And cooldowns are normal.

If you're trading this week, the data suggests three things. One: be more selective than usual, because even Drill's approved tokens are producing more modest returns. Two: watch bonding speed, tokens in the 5 to 15 minute range had significantly better outcomes. Three: check wallet distributions before you ape in (buy impulsively without research), a clean top 10 under 25% and low bundler activity are the minimum bar.

Drill scans so you don't have to guess. But weeks like this are a reminder that "passing the filter" doesn't mean "guaranteed profit." The median was 1.4x. The best pick was 10x. The gap between those two numbers is where real trading skill lives.

Real talk: if you're sitting this week out, that's a valid strategy. The market will heat up again. It always does.