In the crypto world, the opportunity to get rich often lies hidden in unpredictable trends. Recently, the meme coin market has been stirring up a new wave of excitement, with $GOAT achieving an impressive $80 million market cap in just 16 days! Even a well-known media editor has reportedly achieved a 250x return by simply holding $GOAT, making it a hot topic in the industry.
Meme Coins Leading the Next Crypto Supercycle
At the recent TOKEN2049 conference, Murad Mahmudov's speech became the focus of the event. He put forward a radical and bold viewpoint:
Meme coins are disrupting traditional VC coins and altcoins, and will become the engine of the next supercycle.
Mahmudov pointed out that apart from assets like Bitcoin that have real value storage functions, all crypto assets that do not directly provide cash flow or value storage to their holders can be considered meme coins. He believes that the reason these assets can attract countless investors is that they carry cultural resonance and community enthusiasm. When the power of the community is strong enough, it can propel these assets to the peak of the market.
"Meme coins are not just speculation, they are a combination of culture, community, and financial power." - Murad, TOKEN2049
What Indicators to Look at for Meme Coins
Before buying meme coins, what data can we use to assess their potential? For beginners, a few basic indicators can be a good starting point:
- Trading volume - represents market activity
- Number of transactions - reflects trading frequency
- Number of addresses - indicates concentration or dispersion of holdings
- Liquidity - lower price volatility means higher stability.
- Market cap - shows the project's scale.
Additionally, extended indicators like liquidity-to-market cap ratio or trading volume-to-market cap ratio can also help assess upside potential and stability. Through a comprehensive analysis of these data points, beginners can make more informed choices when selecting suitable meme coins.
How to Trade Meme Coins? Prepare Your Wallet First
The high-risk, high-return nature of the Meme Coin market has attracted many investors, but the trading process is not complicated. Use your own private key wallet like MetaMask, Phantom, etc., or use the wallet provided by the exchange, such as the OKX Web3 Wallet (many exchanges have launched their own Web3 wallets), which can simplify the purchase process for beginners compared to other browser wallets.
The Basics of Meme Coin Trading - Find the Contract Address
- First, find the Meme Coin you want to buy (we'll use the recently popular Punt Squirrel as an example).
- Confirm the Meme name and image, which chain it uses, the Contract Address (CA), the market cap and price (it's easy to buy the wrong coin due to many imitation coins on different chains or different coins on the same chain).
- After confirming, paste the CA of the Meme Coin you want to buy into the wallet's exchange section.
- Confirm the amount you want to buy and the slippage, then click the exchange transaction, and you've successfully bought the Meme Coin on the chain.
- Note that some Meme Coin trading pools have insufficient depth, so you may not be able to complete the transaction at a low slippage. You can increase the slippage to improve the success rate of the transaction.
Basically, the tools provided by the current exchanges are very comprehensive in functionality and very user-friendly for beginners, such as the OKX Web3 Wallet. After confirming the target, you can complete the transaction with one click, and it also supports the visual conversion of the traditional trading interface, such as the buy and sell interface, and the direct viewing of the K-line, so that decentralized trading is no longer hindered by annoying technical terms.
At the same time, the OKX Web3 Wallet supports multiple chains such as SOL, TRON, SUI, etc., and has added new coin monitoring, coin detection, and trading functions. Recently, it has also launched the Pump.fun feature, allowing beginners to easily find the Meme tokens that have just been listed, are about to be fully subscribed, and have been issued on Pump.fun, which is more efficient than going to the messy and meme-flavored "Pump.fun" website. Here are some examples of using the OKX Web3 Wallet.
Meme Coin Operation Example
To search for Meme Coins, the first step is to find potential tokens. In addition to hearing insider information from Meme groups and friends' circles, you can also actively use tools like the OKX Web3 Wallet to efficiently search for information on various potential Meme Coins. Here are some examples of using the OKX Web3 Wallet:
Select Targets - Quickly Find Potential Tokens
- Open the OKX Wallet, go to the [Market] section, and quickly filter by entering the Meme Coin name or contract address.
- The Meme Factory integrates information from various launch platforms. You can further filter by trading volume, market cap, and even categorize by PUMP platform.
- For Meme Coins with the same name, you can see the liquidity difference at a glance, distinguish the real from the fake, and identify the correct tokens that the market is discussing.
- Special Explanation: The PumpFun tool on the SOL chain is the hottest Meme token issuance tool in the market, and the OKX WEB3 Wallet has also launched a status classification for this protocol and other related launch platforms, allowing you to quickly find the hottest new coins on Pump.Fun.
Usually, after selecting the target, the next step is to find a good time to sell. If you were able to get in early, you can wait for the capital inflow and monitor the distribution of addresses holding the coin.
Of course, if your entry is not early enough, advanced real-time data monitoring can also help you filter out the potential of Meme tokens, and you may also see the risks they may have, such as concentrated holdings, the presence of bot hunters, or malicious fraud functions in the contract. Here are some examples using the OKX Web3 Wallet:
Monitor Tokens - Analyze Risks and Avoid Landmines
- Click on the target Meme Coin, and you can see the real-time K-line chart and various technical indicators.
- Understand the core information such as pool liquidity, transaction data, and holding addresses.
- Detect potential risks, smart contract vulnerabilities, etc.
If you have selected a good target, and it has topic heat in the community, and you have used tools like the OKX Web3 Wallet to filter, compare the same-named tokens, and confirm low fraud risk, then this may be a relatively better initial process for Meme Coin trading. But remember that Meme Coins are mostly short-term plays and are often created by unknown parties, so please use tools to investigate the relevant risks before investing.
Here are some good testing tools for more advanced users:
Advanced Teaching: The Key to Capturing 100x Meme Coins
I. CashCashBot Based on on-chain data, it solves two core challenges for traders:
- What to buy?
The exclusive Fomo Call tool from the CashCashBot community aggregates the trading behavior of thousands of "smart money" addresses. These smart money players are long-term profiteers in the Meme market. By monitoring their collective actions, Fomo Call can promptly tell you the current market's hot tokens, ensuring you don't miss any potential tokens.X: CashCash Airdrop Guy - When to buy and sell?
Utilizing the Token Insider Analysis feature, CashCashBot real-time analyzes the insider data of Solana tokens, deciphering the proportion of major holdings and trading behavior. When the big players are accumulating, you buy in; when they are distributing, you sell out, synchronizing your every step with the strategies of market leaders.X: CashCash Airdrop Guy
II. DEX Screener, a Powerful Tool for Decentralized Exchange Data Aggregation and Analysis
DEX Screener is a powerful data analysis tool, integrated with multiple DEXs, instantly aggregating token prices, trading volumes, and liquidity data, providing intuitive charts and advanced filters to help users quickly screen for potential tokens. It also allows setting alerts to stay on top of market dynamics!
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Further Reading: Advanced Tutorial on DEX Screener: Seize Investment Opportunities
III. Bubblemaps, a Visualization Tool for On-Chain Data Analysis
Bubblemaps is a data analysis tool focused on on-chain data, using a visualized token supply distribution chart to help users intuitively understand the top 100 holding addresses, capital flow relationships, and the project team's capital management. It can also assess the rug risk of tokens, providing more security for investment decisions.
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IV. GMGN, an Advanced Meme Coin Trading Tool
GMGN is a tool designed specifically for meme coin trading, aiming to help users quickly screen and trade promising meme coins. Utilizing GMGN's indicators, investors can conduct more precise screening, and through limit order placement and Telegram Bot automation, improve trading efficiency.
Further Reading: Targeting New Coins: Advanced Tutorial on GMGN Bot, Making You a Meme Coin Trading Expert
Conclusion
The meme coin market is full of high-risk and high-return opportunities, and while winners are always a minority, it still attracts a large number of investors. From market dynamics to community power, to advanced data analysis tools, investors can leverage wallets and tools to more precisely grasp the investment opportunities of these short-term potential meme coins.
As the cryptocurrency market continues to evolve, investors need to stay vigilant, carefully select projects, rationally plan risks, and constantly improve their market analysis capabilities.