Author: Biteye core contributor dddd, Viee
Editor: Biteye core contributor Crush
How to find 10x, 100x MEME coins? Biteye's veteran last week shared three ideas, see the article: How did he make 7 million in 10 days?
Today, the veteran will teach you from a practical perspective how to use MEME coin tools to capture valuable tokens!
Step-by-step guide, detailed breakdown, I believe you will gain a lot after reading. 👏
In addition, Biteye has compiled 40 super practical MEME coin tools, covering on-chain monitoring and tools, feel free to take a look: How to find 100x opportunities? MEME coin tool collection!
It is recommended to learn the tool article first, and then read this article.
As shown in the figure, many of the large bubbles with high monthly growth rates are MEME coins
Without further ado, there are two main ways to find valuable MEME coins: 1. Active search 2. Passive search
01 Active search
Characteristics: This method is suitable for people with more free time, as you need to monitor the chain for a long time, mainly to discover new MEME coins.
Specific steps:
1. Find the chains with active on-chain meme trading, first open Dexscreener (a currently free and very useful tool), select Gainers & Losers in the left column, observe the top 20 tokens with the highest growth in the past 24 hours, and then count which chain has the most of the top 20. For example, in the figure below, the chain with the most top-performing tokens is Solana.
Observe the chains with the most active top 20 tokens in the past 24 hours through Dexscreener
2. After choosing the chain, click on New Pairs in the left column, select the most active chain found earlier, such as Solana. Observe the top 10 tokens, and you can understand the current hot narratives through the token names, Twitter, and websites.
3. Then it's time to filter, still on the New Pairs page, we need to set some conditions:
Liquidity > 10k
Age < 48H
4. Based on the filtering results, we select the top 10 tokens, and then further filter according to the project's Twitter, Telegram, and holder information:
Check the KOL following and fan growth on Twitter, recommended to use Cryptohunt.
Check the community situation on Telegram, judge based on the chat and activity.
You can check the on-chain holders on the Solscan browser, as we are filtering for new coins, 1000-2000 holders will be more stable.
Use Cryptohunt to understand the Twitter KOL attention, related tweets, trend analysis, etc. of the relevant tokens
5. Add the selected tokens to your watchlist on Dexscreener, and continue to monitor their situation, set price alerts, such as support or breakout levels.
6. Choose suitable trading tools, currently the popular and convenient ones are TG bots, such as Pepeboost. For the evaluation and comparison of TG trading bots, please read the Biteye article: How can newbies trade on-chain meme? The most detailed comparison of Solana trading bots
02 Passive search
Characteristics: This method consumes less time, does not require long-term monitoring of the chain, but requires regular time to find smart money wallets.
Specific steps:
1. Select a recent hot MEME coin, such as $Goat, open the Top Traders in the corresponding $Goat on Dexscreener, and look for those insider wallets, which have low investment but high returns.
Taking the wallet with the highest return in Top Traders as an example, this wallet does not show the cost of purchase
2. Analyze the wallet: If the purchase cost is not shown in Dexscreener, these coins are transferred in, so you can try to find the original purchase wallet, this process can use block explorers (such as Solscan), or professional tools to track addresses (such as Coinstats), which can help you view the portfolio of the address and quickly find the relevant token transactions.
Through the Solscan block explorer, you can observe the interaction of this address and find that the Goat token was transferred from another address
3. In-depth analysis of the wallet: Observe the profit situation of the other tokens in the address.
Analyze the portfolio of this wallet address through Coinstats, this type is mostly temporary wallets without other heavily held assets
4. Monitor the wallet: Use Cielo to monitor the address, so that you can buy in at the right position later.
03 Summary
1. Choose the active or passive method based on your own situation, or you can also combine the two.
2. While engaging in short-term trading, you should also have long-term positions (such as leading MEME coins). This is because the probability of losing in short-term trading is very high, and you need to have a stable long-term position with a good narrative to hedge the risk of short-term PVP trading.
3. Increase your position if you make a profit, and cut losses in time if you lose.
4. Last but not least, don't fall in love with the coins you buy! (Painful lesson)
