Crypto markets are ablaze with activity as investors return to risk-on sentiment, and meme coins are topping the charts, capturing the imagination and wallets of investors worldwide with astronomical gains.
From Solana meme coins to blue-chip classics, fortune favors the early bird. Here’s how traders are supercharging their trading.
Recent weeks have seen meme coins hitting absolutely shocking valuations, with the total meme coin market cap hitting $60Bn (though it has since dipped to $58 billion).
Notably, there has been a surge in Solana meme coin activity, giving rise to numerous moonshots such as DogWifHat (WIF) – which has exploded +508% over the past 30 days to hit a $3 billion market cap. WIF traded between $0.15 and $0.35 for the first few months of its existence in obscurity before it took the community by storm, rallying to a shocking all-time high of $3.4 today.
(WIFUSD)
This has been matched by the likes of Dogecoin (DOGE) and Shiba Inu (SHIB), turning everyday retail traders into overnight millionaires, posting +135% and +179% gains over the past year, and the race to discover the next viral meme coin is fiercer than ever.
Here’s a sophisticated breakdown of what it takes to identify these gems early in the game, enhancing your crypto portfolio while mitigating risks.
The Art of Presale Participation: Unveiling Hidden Gems Before They Hit The Market
Before we begin, it’s important to remember that meme coin investing is extremely risky.
You have to be prepared to lose every cent you put into a meme coin because they are incredibly volatile and most eventually go to $0. Furthermore, investing in meme coins with the highest moonshot potential is even riskier than, say, putting a few bucks into Dogecoin.
High-potential presales can be like striking gold in the meme coin domain, with the opportunity to gain an early bird advantage by buying in at a pre-listing price.
The momentum of these early stages offers a glimpse into the coin’s future trajectory, but discerning the worthy from the fleeting requires a keen eye (and some luck, of course).
Meme coin experts often like to look for projects that boast a robust social media following, promising tokenomics with strong allocations into marketing and vesting, and a clear value proposition that distinguishes them from the crowd – whether that’s a working product or an excellent name.
Engaging with a coin from its presale phase can offer insights into its community strength and development vigor, crucial indicators of its long-term viability. But remember, even if a meme coin checks all of these boxes, there is still a large chance that it won’t build up enough steam and will become totally worthless.
Harnessing Social Power: The Pulse of Meme Coins
The heartbeat of any successful meme coin lies in its community, and this often forms a key part of any investigation into a new coin.
Platforms like Discord, Telegram, and X (formerly Twitter) are not just social forums; they are the breeding grounds for virality and traction, with rapidly growing channels hinting at the next big coin.
Engage actively, sift through discussions, and monitor sentiment to catch wind of emerging coins before they explode onto the mainstream. Look for narratives that are driving attention and legitimate engagement, like the viral X posts about Jeo Boden.
$260 to $42k in 48 hours
the greatest casino on earth https://t.co/VGCG6kLf07 pic.twitter.com/YnCco9EBTB
— barkery🍦 (@barkery91) March 5, 2024
Signals channels often offer a mix of analysis and community picks that can provide a well-rounded perspective on potential meme coin stars.
However, some signals channels are abused by investors to try to pump their own bags so be extremely careful and always do your own research.
Using Analytics Tools: A Data-Driven Approach to DEX Sniping
In the fast-paced world of meme coins, tools like DEXTools and CoinCodex are the best friends of meme coin traders trying to get into extremely new coins.
These platforms aggregate real-time data, offering a bird’s-eye view of market trends, volume spikes, and emerging coins.
By keeping tabs on the daily gainers and trending tokens, you can identify coins gaining traction, setting the stage for better informed investment decisions.
Furthermore, these tools enable you to see the very latest coin listings and launches on DEX markets with up-to-the-second live feeds. Be extremely careful with freshly listed coins, as many of them are scams, and a vast majority will become worthless within a few hours. Most successful meme coin traders avoid them completely.
When assessing new launches, you can look for large and locked liquidity pools, strong buy pressure in the order books, and small market caps with favorable bullish technical structures. Naturally, these tools can be helpful, but they are far from perfect.
On-Chain Activity: Following the Money Trail
Understanding the flow of capital within the blockchain can unveil early signs of a meme coin’s ascent.
Tools like Etherscan and Nansen offer a transparent view of transaction activities, allowing you to track whale movements and gauge market sentiment.
By analyzing the accumulation patterns of seasoned investors, you can uncover meme coins that are quietly gathering steam and might be poised for public discovery.
Look out for wallet addresses that make very large trades on the best-performing tokens to try to identify expert DEX traders ahead of supercharged gains.
The quickest way to buy new Solana meme coins is through sniper bots like BONK as DEXes like Jupiter and Raydium can be slow to add tokens to their interfaces. If you do decide to invest in a small new meme coin, you may need to set your slippage higher than usual but be careful to not set it too high. Otherwise, bots may be able to front-run your trade, making you pay a much worse rate than you would with a lower slippage value.
How to Find Meme Coin Early: A Dance of Diligence and Degeneracy
The hunt for early moonshot meme coins is an exhilarating endeavor that blends social savvy in the community with analytical prowess on-chain.
While the lure of astronomical gains is enticing, it’s imperative to approach these investments with a balanced perspective, recognizing the high-risk, high-reward nature of the market.
Always do your own thorough research before making any investments and consult with a financial advisor if possible.
Our recommendation: If you are in the market for the next memecoin moonshot, ensure your crypto assets are protected with Best Wallet, Business2Community’s top recommendation for safety and simplicity.