Crypto glossary
Cabal
In crypto slang, a cabal is a group of insiders believed to coordinate token launches, promotion and selling for their own profit.
The word is used most often in memecoin circles. A cabal might include a token creator, early buyers using bundled wallets, KOLs paid to promote it and traders who agree to buy at set times. Together they can make a token appear to take off organically, then sell to followers who arrive later. Blaming the cabal has also become a joke whenever a trade goes wrong.
Some cabal claims are backed by evidence. On-chain investigators have traced wallets linked to the same people across many launches, and several high-profile memecoin collapses, including tokens tied to celebrities and politicians, revealed small groups that bought early and sold large amounts within hours. Being in the cabal, meaning having early access, is sometimes presented as a goal.
Coordinated buying and promotion followed by selling resembles the pump-and-dump schemes that securities and commodities laws prohibit in regulated markets. For outsiders, the practical lesson is that early price action in new tokens is often manufactured.
Example
Investigators link six wallets that bought a celebrity memecoin seconds after launch to a group behind several earlier tokens. The wallets sold within a day, and holders accused a cabal of orchestrating the launch.