Hello everyone, meme coin has always been the "specialty" of the crypto market to bring in cash flow from outside and the meme wave is always the x wave the most times. This article will provide you with some effective and safe ways to play memes!
TIPs find the most potential new meme coins
To start learning and investing in memes, you must understand the game because memecoin is not like regular coins, here are the principles you need to know:
1/ Understand the nature of meme coin:
The first step is to learn the basics of memecoins, how are they different from other projects? Where will the meme coin price increase come from? Once you have this understanding, it's time to dig deeper into your research to find the right project.
Track ROI: Track which types of memes get good FOMO. Of course, if you have a good sense of trends, you should choose memes when no one knows about them, it will be safer and because investing in memes is a sure loss, so just invest as little as x2 the profit or watch the gas fee.
Learn about community: The essence of memes is community, a strong community is essential to the success of any meme community. Because memes are for fun, FOMO is mainly directed at each other. Usually memes will be based on images such as dogs, cats or famous anime characters. The more sensitive you are, the higher your ability to find good memes, such as PEPE associated with the green frog meme, WOJAK troll meme,...
Conduct basic analysis: Find out who is the group behind the meme coin? Although most are anonymous, if you can find out who the backers are and analyze tokenomics, it will help you limit risks. For example, PEPE is backed by Yuga Labs, or BALD is rumored to be created by SAM FTX
Decide to follow “Leader” or “Rotation Game”:
Consider investing in a Lead trend project in a certain niche market. Such as DOGE, SHIB dog lead or ORDI for BRC-20 tokens. Cash flow is usually the leader first, then flows down to smaller coins in that niche market... If it is a general trend of a niche, then it is very likely that smaller projects will gain cash flow after forecasting. The "main" case exploded. Even so, this is still a very high risk game.
For example: If money flows to memes on Base and opBNB in the near future, will other memes in this ecosystem benefit??
Follow smart money: See what successful whales and smart money are buying and consider speculating accordingly. To do this is quite difficult because onchain data, although public, is mixed with real and fake data, so be careful:
For example, this is an error when tracking onchain
Onchain error
2/ Always Keep Your Wallet SAFE
Most projects on new chains are huge, so in addition to focusing on finding profits with memecoin, you need to always ensure the safety of your wallet when playing memecoin. Some tips to keep your wallet safe:
Only use secondary wallets, split wallets to trade memecoin.
Revoke tokens immediately after completing the transaction.
Check the full contract audit before trading.
3/ Take advantage of support tools
If you have played memes, you must know how to use bots or support tools, newly launched meme coin search tools, wallet checking tools, below are the tools I often use:
iToken: Synthesize new tokens with information about token addresses, total supply, liquidity... Bot will update contract deployment progress information, so pay attention to tokens that have been deployed to the burn/lock liquidity step .
DEXT Live New Pairs Bot: Synthesize new token pairs on DEXTools. Early memecoins are often listed on DEXTools (PEPE has been listed on this platform since April 14, 2023), tracking new tokens or trending tokens on DEX can help users find gems. It is recommended to follow tokens with as high initial liquidity as possible.
Dexscreener: Provides a bot that reports new trading pairs on Ethereum and many other chains. In addition, Dexscreener also has a trend reporting bot that helps users get information about tokens with skyrocketing trading volume/prices.
👉 Dune dashboards:
+) Smart Address Search: Filter the list of wallets purchased and sold within a specific time period.
+) Token Analyzooor: Full information about a token such as detecting new wallets created to collect tokens, trading on DEX with high profits or large volume...
+) Shitcoin Profit: Analyze the profitability of wallets by token. You should look for wallets with few transactions but high profits.
+) Bubblemaps: Detect groups of wallets that are linked together. This tool helps users find groups of wallets that interact and combine to release tokens, manipulate market prices, dev wallets...
How to Filter Potential Memes Through Tools
First, we can use two tools: DEXTools or Dex Screener. I think these two tools are currently the best platform to explore new projects not just MEME. Here we take DEXTools as an example.
– Visit: @Dextool
– In the list of projects. You filter the column: “Create” – It will show you which coin was created most recently. But when newly created, most are scams, so pay attention to factors such as liquidity, holders, DEXT points, quickly check whether the smart contract has a lock sell or burn LP?
Next check out their community. If a project doesn't even have a website and community, then the project is definitely a scam.
The relative amount of followers and interactions are all real
The official website is beautifully designed and user-friendly
Active Telegram/Discord community (no bots)
To quickly check, you can use Tweetscout. The steps are as follows:
– Visit Tweetscout.
– Copy the twitter link into the search box in Tweetscout's website interface
– Read the displayed data:
Requirements: The higher the score the better, at least over 200 for new projects. Refer to data about the number of followers and when the first/last post was. The important thing is whether there are many KOLs and celebrities also following this project or not. Overall, this tool will provide you with enough information.
Find "trending" projects through Blockchaincenter
Although sometimes coins are being discussed online, it may be a bit late. But sometimes that is not the case. If the project is strong, it is still possible to invest. Most websites such as LunarCrush, Coinmarketcap, Coingeko have a trending section for you to search. But I feel like it's quite late and there are many types of trends
However, there is the most optimal tool
@Blockchaincenter
It will provide you with the hottest trending coins currently, according to different timelines. Accompanying that is the HOT level on each information channel/social network. However, you don't have to just trend and get it, you have to be flexible
Personal Experience Playing Memes
- Go for a small volume, play with a certain amount of money and you may lose
- Playing memes is mainly FA so no STL, no DCA just x2 to close half of the profit (if the position is good or not, just enough to cover capital is ok)
- When playing memes, the first is information, the second is to be sharp, and the third is experience
- When playing memes, you should play alone and not share, otherwise you will lose brotherly love.
- Meme waves are sometimes led by a strong one or when a new chain has cash flow, like BALD on Base
- Try to detect the meme wave as soon as possible to have the best position because if it's almost gone, most will pumpdump very quickly.
- The strategy when listing a meme is that no matter what, the dev is the one who owns a lot of products, so when there's an offer, try to run early.
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Hopefully with the above shares, you will have a little more experience in "hunting" for meme coins and this article can also be applied to those of you looking for new projects on DEX, not just the previous meme coins. when they are popular and listed en masse on exchanges.