Step-by-step guide with images and tutorials, guaranteed to teach you well.
Written by: Biteye core contributors dddd, Viee
Edited by: Biteye core contributor Crush
How to find 10x or 100x Meme coins? Last week, the experienced trader from Biteye shared three ideas, see this article for details: How did he make 7 million in 10 days?
Today, the experienced trader will teach you how to capture valuable tokens using Meme coin tools from a practical perspective!
Hands-on teaching, step-by-step guide, I believe you will gain something after reading it. 👏
In addition, Biteye has compiled 40 super useful Meme coin tools, covering on-chain monitoring and tools, feel free to take a look: How to discover hundredfold opportunities? Complete guide to Meme coin tools!
It is recommended to learn the tool article first, then read this article.
As shown in the image, many of the top monthly statistics for price increases are Meme coins
Without further ado, there are two main methods to find valuable Meme coins: 1. Active search 2. Passive search
01 Active Search
Characteristics: This method is suitable for those who have more free time, as you need to monitor the chain for a long time, mainly to discover new Meme coins.
Specific steps:
- Look for chains where funding and meme coin trading are active. First, open Dexscreener (this is currently a free and very useful tool), select Gainers & Losers in the left sidebar, observe the top 20 tokens with the highest price increases in the past 24 hours, and then tally which chain has the most tokens in the top 20. For example, in the image below, the chain with the most tokens with significant price increases is Solana.
Observing the most active chains for the top 20 tokens with the highest price increases in the past 24 hours through Dexscreener
After selecting the chain, click on New Pairs in the left sidebar, and choose the most active chain discovered earlier, such as Solana. Observe the top 10 tokens, and through the token names, Twitter, and websites, you can understand the current hot narratives.
Next is filtering, still on the New Pairs page, we need to set some conditions:
Liquidity > 10k
Age 48H
- Based on the filtering results, we select the top 10 tokens, and then continue to filter based on the project's Twitter, Telegram, and holders:
Check Twitter for KOL attention and follower growth, it is recommended to use Cryptohunt.
Check Telegram for community conditions, judging based on chat activity.
On-chain holders can be viewed in the Solscan browser, as we are filtering for new coins, 1000-2000 holders will be relatively stable.
Using Cryptohunt to understand the attention of relevant token Twitter KOLs, related tweets, trend analysis, etc.
Add tokens to your watchlist in Dexscreener, continuously monitor the tokens' conditions, and set price alerts, such as support or breakout levels.
Choose suitable trading tools, currently popular and convenient ones are TG bots, such as Pepeboost, etc. For evaluations and comparisons of TG trading bots, please read the Biteye article: How can beginners trade meme coins? 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 wallets.
Specific steps:
- Select a recent hot Meme coin, such as $Goat, open Dexscreener and look at the corresponding $Goat's Top Traders, searching for insider wallets that have low investment but high returns.
Taking the wallet with the highest returns in Top Traders as an example, this wallet does not show the buying cost
- Analyze the wallet: If the buying cost is not displayed in Dexscreener, then these coins are transferred from other wallets. You can look for the original purchasing wallet, this process can use a block explorer (like Solscan) or professional address tracking tools (like Coinstats), which can help you view the address's portfolio and quickly find related token transactions.
Using the Solscan block explorer to observe the interaction of the address, discovering that the Goat token was transferred from another address
- Deeply analyze the wallet: Observe the returns of other tokens in the address.
Using Coinstats to analyze the portfolio of this wallet address, these are mostly temporary wallets with no other significant assets
- Monitor the wallet: Use Cielo to monitor the address, making it easier to buy at the right time later.
03 Summary
Choose either the active or passive method based on your situation, and you can also combine both.
While engaging in short-term trading, everyone should also have long-term positions (for example, leading Meme coins). This is because the probability of loss in short-term trading is high, and having stable long-term positions with good narratives can hedge against the risks of short-term PVP trading.
Increase positions for profitable trades, and cut losses for losing trades.
Lastly, and most importantly, do not fall in love with the coins you buy! (A painful lesson)
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