Original Draft: Joyce, BlockBeats
Original Translation: Jack, BlockBeats
In the midst of volatile market conditions, several "golden dogs" have emerged in the meme market. Within the community, there is a circulation of screenshots showcasing high returns on meme trades. However, behind the few lucky winners, there are many runners-up who have experienced repeated failures.
The meme market is a field full of opportunities and challenges. In addition to luck, traders also need to possess comprehensive abilities such as market insight, technical tool utilization, psychological resilience, and adaptability to changes in order to achieve satisfactory returns. Among these, the ability to use tools can be quickly improved. In this article, BlockBeats has compiled some on-chain analysis tools designed specifically for meme trading, which are suitable for meme coins with small market capitalization and short existence. It is hoped that these tools can provide some assistance to traders who want to participate in the meme market.
Before reading this article, it is important to note that there are various tools in the market for meme trading. Some tools, due to their loyal communities, prioritize maintaining existing communities and reduce their exposure on social media. Some tools are just getting started, with innovative features but may lack stability. There are also tools that require a dialectical analysis of the signals they provide due to their large user base.
In addition, readers need to recognize the characteristics of the meme market, namely the fast pace of trading, high returns accompanied by high risks, and that it is not a trading area suitable for everyone. Analysis tools can only play a supporting role, aiming to minimize the probability of falling into traps.
Entry-level Play: Analyzing Holding Chips with CA Address
The most common scenario for entry-level meme traders is to see a new meme coin in the community and decide whether to trade this token based on its security and chip structure. In this scenario, helpful resources include website-based tools and trading bots.
First, some basic information analysis is needed.
It is important to pay attention to the security of the token contract, such as whether the token is a "Pi Xiu" plate, whether the contract is open source, whether token permissions have been abandoned, and whether there is a locked pool, among other risk warnings. In addition, information such as token market value, number of holders, recent trading activities, and the holdings of the top 10 holders are important reference indicators for judging the safety of the token when there are no other additional signals.
In addition, the web-based tool GMGN provides other information about meme coins, such as whether the developer has run away, whether the team has paid for advertising on Dexscreener, official token Twitter account and tg community links, etc. The significance of these pieces of information varies depending on the situation.
In the increasingly intense meme market, a more in-depth analysis of the token's holding structure is needed. Generally, the trading activities of smart money, KOLs, and large holders can provide more effective information than other traders. For example, GMGN categorizes token traders into smart money, KOLs, whales, new wallets, snipers, large holders, and insider traders.
In addition, some monitoring tools based on TGBOT can also provide this functionality. For those seeking speed, they can immediately view the token holdings in groups with TGBOT in the group by entering CA.
Observing the purchase amount, entry timing, and profit situation of these groups, combined with discussions on social media, can assist in judging the stage at which the meme coin is currently at. Each tool in the market has its own advantages. For example, some tools may highlight the holdings of KOLs and large holders.
Intermediate Play: Filtering Addresses to Increase Certainty
In the meme market, there are some publicly known smart money addresses, such as high-winning rate addresses circulated in the community, addresses marked by institutions, and KOL addresses. GMGN has marked some smart money addresses based on statistics, but the reference significance of publicly and openly marked addresses is not significant. Blindly following publicly known KOL addresses is also not advisable. Meme players need to establish their own list of smart money addresses, which can currently be satisfied through GMGN and other customized tools.
After seeing a meme coin with a good increase, one can search for smart money from three groups: early large holders, high-yield traders, and early buyers. It is most important to judge based on the timing of the purchase. If the address buys the meme coin before the rise, its reference value is greater.
Some tools provide a more concise and intuitive viewing experience, offering only three indicators: large holders, KOLs, and insider traders. Clicking on an address allows immediate viewing of the trading operations and profit situation of the address on the current token without the need to jump to another page.
After filtering a batch of wallet addresses, it is necessary to observe the recent trading and profit situation of these addresses. Many high-yield wallet addresses do not necessarily have tracking value and may have just encountered a windfall after casting a wide net.
In addition, some players will search for wallet addresses on solsCAn to view the initial source of funds for the wallet, in order to analyze the "group" to which the wallet belongs. In the meme market, some smart money addresses with information asymmetry will operate with several addresses during trading.
Related Reading: "From 'Dog King' to 'Rat King': NEIRO's Insider Trading Shares Reach 130 Million US Dollars, KOLs Rally Together"
The final filtered wallet addresses are added to the watchlist, and their trading performance is observed irregularly. When encountering a new meme coin again, one can use GMGN's "Watchlist" or some monitoring tools to see if the watched wallet holds the meme coin, serving as a reference for trading.
Advanced Play: Chain Scanning + Following, Seeking to Stay Ahead
The trading cycle in the meme market has been compressed to minutes, making speed crucial for profitable results. However, it is important to understand that fast trading speed does not necessarily guarantee high profitability. Sufficient judgment and analytical abilities are needed as support.
Players typically compete in speed in three aspects: discovering alpha new coins (chain scanning), tracking smart money movements (following), and ultimately buying and selling (trading).
Chain Scanning
For "chain scanning," GMGN and Bullx are used more frequently.
At the bottom of the GMGN page, there is a "Sniping New Coins" column. When a signal appears, a red prompt will appear, and users can click to view it immediately. Clicking "New Coins" on the GMGN homepage allows browsing of the latest token situations. Filtering conditions can be set on the right, including whether there are social media, DEX holdings, circulating market value, and number of holders, among others. However, some users have reported that the filtering conditions sometimes do not work and will use them in conjunction with the TGBOT provided by GMGN.
Bullx is a decentralized trading platform that covers six networks: Ethereum, Solana, BNB Chain, Arbitrum, Base, and Blast. Its unique feature is providing both web-based and Telegram bot trading, with key functions including fast trading, limit order setting, intelligent MEV protection, new token sorting and filtering, and Pump Fun scanner.
Users can click on "chain" to only view the dynamics of new coins on the Solana and Ethereum chains. Clicking on "New Pairs" displays the 30 latest tokens monitored online, with the earliest tokens usually going online within the last 2 minutes. The available indicators include token creation time, token liquidity, market value, number of trades, trading volume, and basic contract security reports. Bullx highlights abnormal data to help users discover alpha new coins as soon as possible.
Additionally, Bullx has a dedicated "Pump Vision" section, displaying the dynamics of tokens on Pump.fun and Moonshot in three categories: new pools, internal pools about to be filled, and just filled. Users can further filter tokens based on dev holding ratio, number of holders, liquidity, trading volume, and market value within each category.
In terms of user feedback, Bullx's advantages include smooth interaction, outstanding performance in viewing new coins within minutes, and support for limit order trading. However, it may experience lagging at times and lacks smart money identification functionality, only allowing basic holding structure analysis.
Regarding fees, BullX charges a 1% fee per transaction. Users who register through referrals can enjoy a 10% fee discount, meaning Bullx deducts a 0.9% fee. BullX also has a token issuance plan, with the second season airdrop plan currently ongoing, allowing users to receive rewards based on accumulated early bird points. Recently, Whales Market announced the listing of BullX (BULLX) on its Pre-Market.
Following
Following is a significant phenomenon in the meme market, with many meme traders hoping to be the first to grasp smart money trading activities. GMGN and NFT Sniper allow users to create their own watchlists.
By clicking on "Follow" on the GMGN page, users can view their list of watched wallets, and clicking on "Activity" displays the movements of the watched addresses in chronological order. GMGN not only provides address movements but also shows the buy-in cost, realized profit, and unrealized profit of the watched wallet addresses.
Additionally, GMGN has a "Followed" section at the bottom left of the page, allowing users to capture smart money movements in real time.
Some tools provide more concise feedback on address movements, offering a more agile user experience. Certain tools have periodic advantages, with more comprehensive identification of KOL addresses.
Trading
The tools mentioned earlier, GMGN and Bullx, both offer trading functionality. The images below show the trading interfaces of GMGN, Bullx, and another tool, each providing basic features such as custom slippage, small fixed amount purchases, and batch selling, with some differences in user experience.
GMGN displays real-time profit status near the trading operation button, assisting users in deciding on selling based on profit status. Another tool provides features such as multi-wallet synchronous operations and setting range-based random amount trades, suitable for users with more customized trading needs. Bullx allows users to place trading orders, but considering the generally insufficient liquidity of meme trading pairs, the practical usefulness of the order placement feature may be limited for some meme players.
For mobile trading needs, the aforementioned tools all come with corresponding TGBOT services. Some meme players may use dedicated trading bots, such as Pepeboost, Bonkbot, MaestroBots, Trojan, and CAshbot, as introduced in "Solana Shrimp Continues, Trading Bots Have Made Crazy Profits." Using bot tools incurs a service fee, but since most meme market capitalizations are small, they are more suitable for users with small capital volumes, requiring a balance between speed and cost.
Overall, the meme market demands heightened insight and rapid response from traders. Utilizing tools can significantly increase the chances of survival and profitability in the meme market for traders. However, learning to use these tools is only the first step. True success requires a significant amount of time and effort to cultivate a deep understanding of the meme market. Readers should analyze and apply the information based on their specific circumstances and avoid blindly copying others.
Finally, the cryptocurrency market is high-risk and highly volatile, especially the meme market. This article provides some reference information for readers with meme trading needs but cannot guarantee trading success. Traders should exercise caution and avoid investments that exceed their risk tolerance.
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