How to become a Memecoin Millionaire: A Trading Guide for Solana and Spotting Fresh Meme Coins 💎
This guide will assist you in navigating the world of #Solana memecoin trading, offering clear insights to explore potential gems while staying mindful of associated risks.
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Start by downloading the Phantom wallet (Playstore/Appstore)
For PC :-
➡︎Visit phantom.app
➡︎Click "Download"
➡︎In the newly opened window click "Install"
➡︎Confirm installation
and then either create a new wallet or import one that remains secure.
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Ensure possession of NATIVE SOLANA COINS. Acquire them from your wallet or an exchange, then transfer to your Phantom wallet.
Utilize the Phantom wallet browser at the bottom right of the home screen, represented by a 🌐 icon, to navigate to a dex. Raydium is a commonly used option.
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In Raydium, link your Phantom wallet to the Solana network. Click the wallet connect icon in the top right, choose Phantom from the menu that pops up, and approve the connection when the screen changes.
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Once you're connected to the dex
Paste the contract adress you like to buy into the bottom field. Select Solana in the top field. Pick how much you like to spend and swap.
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How to select the latest solana memecoins ?
1- Use Dexscreener/Dextools to view recently minted Solana tokens, focusing on those not older than 12 hours, preferably only 1 hour.
2 - Explore #Solana trending on Telegram for more choices and to gauge buying frequency.
{t.me/trendingssol}
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Once you have a list of tokens
Check for these parameters:
1. MC under 1 mill preferably 300k to 500k
2. Trade voulume is 600k to 1 mil
3. Transactions QTY in the 5000 to 8000 range.
4. More buys than sells
If it has those items chances are good to break 3 mil MC
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🚩Lastly check the contract for vulnerabilities.
🚩Team tokens
🚩source of funds for LP.
USE soul_scanner_bot on Telegram to find out the above (Just paste Contract address to the bot, it will provide you the details)
🚩It has socials especially Telegram & Twitter
Ensure Telegram is active n growing rapidly. 2k members in a day is a good sign. 500 is not good and means project is not trending
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Once you have a solid lead.
You should plan to get in under 1 million preferably 100k to 500k. Depending on how strong the trend is, 1 million can be fine.
Market cap from start to 500k should be reached within minutes.
1 million should be reached in a few hours.
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If a project cant break 1 million MC in a few hours after launch its not meant for greatness usually.
If it cant break 5 million MC in 12 to 24 hours its also might not go the distance so keep you hands on the trigger. Always be ready
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Most importantly Always take profits. As your investment doubles, take out at least the intial $. Set an exit strategy.
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⚠️ Disclaimer: Memecoins carry inherent risks. This thread provides information, not financial advice. Exercise caution, conduct thorough research, and be aware of potential volatility and scams in the memecoin space. Invest wisely. ⚠️
Hope you found this thread helpful, Follow me for more alpha threads, latest airdrops, my trades, charts & calls, industry news & whale wallet tracking.
