Author: Biteye Core Contributor Viee
Editor: Biteye Core Contributor Crush
Before reading this article, please first learn the GMGN guide to playing with Meme coins (making hundreds of times overnight! How to use GMGN to play with Meme coins (Introductory Article)).
The introductory article mentioned how to find new Meme coins, analyze and filter them, and perform manual trading, providing some reference for newcomers who want to play with Meme coins on-chain.
This article is an advanced guide, mainly focusing on using indicators to filter Meme coins, utilizing the website/Telegram Bot for automatic trading and limit orders, helping everyone further use the GMGN tool to improve trading speed and security.
GMGN Website:
https://gmgn.ai/
01. Use GMGN Indicators for Advanced Filtering of Meme Coins
In the introductory article, we have analyzed chain scanning and the thought process for determining potential Meme coins, specifically judging based on trends, narratives, market capitalization, community, and market dynamics whether to buy. So how can we quickly scan the chain and filter safe tokens from the GMGN token dashboard from an indicator perspective?
Focus on the 'Sniping New Coins' section at the bottom left of GMGN. After discovering a new token, click to enter the token trading interface for detailed analysis.
First, look at the indicators in the bottom right corner:
Liquidity Pool Size: Ideally, the liquidity pool should be above 100 SOL. Although participation is possible with lower values (like several dozen SOL), the risk is higher due to vulnerability to large holders' price crashes. However, be cautious of some scammers using large pools to mislead users.
Real Transaction Count: Observe the actual transaction count after the market opens. If the transaction count exceeds 60 within 1 minute or exceeds 600 within 5 minutes, it indicates that the token is relatively safe. Ensure these transactions are real and not artificially inflated.
Mint Permission Revocation: If the project team has revoked the permission to issue additional tokens, it is relatively safe. This means they cannot arbitrarily issue more tokens, thus reducing the risk of a price crash.
Blacklist: Confirm whether the project team has the right to blacklist any wallet. If 'No', it is relatively safe; if 'Yes', there may be risks, as this means certain users may be restricted from selling tokens.
Burn Pool: Check whether the liquidity pool (LP) is burned. The higher the burn rate, the lower the risk, as it means the project team cannot withdraw liquidity. A 100% burn indicates the project team cannot withdraw funds, making it the safest. If the LP is not burned, there is about a 60% chance of a 'rug pull' (i.e., the developer suddenly withdraws funds). This step is crucial for assessing project security.
Top 10 Holdings: Observe whether the total amount held by the top 10 holders is less than 30% of the total supply. If so, it indicates that the token is widely held, reducing the risk of manipulation by a single large holder.
Secondly, look at the holding indicators below the K-line in the middle:
Monitor for Wash Trading: Observe whether there is a phenomenon of wash trading; the lower the wash trading ratio, the better. A high ratio may indicate market manipulation by the project team, increasing investment risks. It is recommended that the wash trading ratio does not exceed 20%. Ideally, having no wash trading is the best scenario.
Finally, check the indicators above, including social media and snipers:
Analyze Large Holder Sniping: If a large holder quickly intervenes when the market opens, and the liquidity pool is shallow, there is a 90% chance that it will lead to a price crash, so caution is needed.
With the above indicators, you can more effectively filter out safe and investment-potential Meme coins, reducing risks and improving success rates.
02. Use GMGN Website for Advanced Trading
After selecting potential tokens, how to trade? The tutorial for beginners has already been detailed in the previous article on the GMGN trading system, as well as simple manual buying/selling operations. This advanced tutorial focuses mainly on limit trading and automatic trading.
In the GMGN search box, enter the token address, or directly filter the tokens you think have potential on the GMGN token dashboard, then click to enter the token trading interface.
Bind TG Wallet: On the right side of the token trading interface, click 'Bottom Fishing', go to the Telegram bot, and link your TG wallet.
Use GMGN Website to Create Limit Orders
Set Limit Order:
Return to the GMGN website and click on the linked wallet.
Click 'Bottom Fishing', then enter the buying quantity, slippage, and anti-sniping settings.
Create Limit Order: Click 'Create Limit Buy', successfully completing the limit order.
Limit Sell is similar; click 'Automatic Sell', enter the quantity, slippage, and anti-sniping parameters, click 'Create Limit Sell', and successfully complete the limit order.
03. Use Telegram Bot for Advanced Trading
Compared to website limit orders, there is a more convenient and faster trading method: using Telegram Bot. When you send the token contract address to the Telegram bot, it will automatically buy or sell the token according to preset conditions without any other operations needed. How to achieve this?
First, add the GMGN Telegram sniper bot as a friend.
https://t.me/GMGN_sol_bot
1. Use Telegram Bot for Limit Buy
Send Contract: In the TG sniper bot, enter /start, select 'buy', and input the token contract address.
Set Limit Order:
After entering the contract, select the 'Limit Order' tab.
Set the amount of SOL to purchase, you can customize the amount or use preset values.
Set the trigger price, which can be a specific price or a percentage, and choose the validity period of the limit order (e.g., 6 hours, 24 hours, 2 days).
Complete Limit Order: Click 'Create Limit Order' to successfully set a limit buy.
2. Use Telegram Bot for Limit Selling
Send Contract: In the TG sniper bot, enter /start, select 'sell', and input the token contract address.
Set Limit Order:
After entering the contract, click 'Limit Order', and select the 'Limit Sell' area.
Set the proportion of the quantity you want to sell, and you can also customize the quantity or use preset values.
Set Trigger Price: Set the trigger price, which can be a specific price or a percentage, and choose the validity period of the limit order (e.g., 6 hours, 24 hours, 2 days).
Complete Limit Order: Click 'Create Limit Order' to successfully set a limit sell.
3. Use Telegram Bot for Automatic Buying
Set Automatic Buy:
Type /start in the chat, then choose 'Settings' to enter the automatic buy options.
Click 'Enable Automatic Buy' and set the amount of SOL for each transaction.
Set the minimum amount limit for the token pool to ensure that purchases will only be triggered when the pool exceeds this value. For example, entering 2000 means purchases will only be triggered when the token pool exceeds 2000 USD.
Set a maximum limit for market capitalization to ensure that only tokens with a market cap below this value are purchased, for example, entering 200000 means only buying when the market cap is below 200000 USD.
Execute Purchase: Once the settings are complete, send the token contract address to the bot, and it will automatically make the purchase according to the preset conditions.
4. Use Telegram Bot for Automatic Selling
Set Automatic Sell Preset Value:
Type /start in the chat, then select 'Settings' to enter the automatic sell settings, or directly send /autosell.
Click 'Enable Automatic Sell', then add preset limit orders.
Configure Stop Loss and Take Profit Orders:
Stop Loss Order: Fill in a negative percentage (for example, -30% means automatically sell when the price drops by 30%) and set the proportion of the sell quantity (not exceeding 100%).
Take Profit Order: Fill in a positive percentage (for example, 30% means automatically sell when the price rises by 30%). It is recommended that the total sell quantity equals 100%.
Execute Sell: Once the configuration is complete, the bot will automatically create a stop loss and take profit limit sell order valid for 24 hours.
04. Summary
Through these advanced operations, you can efficiently filter, automatically trade, and set limit orders for meme coins on the GMGN platform and Telegram sniper bot, thus improving trading speed and efficiency.
It should be noted that all Telegram bots face the issue of private keys being hosted on servers; the GMGN Bot is no exception, so try not to leave too many funds in the bot. If you make money, transfer it to an exchange or your own on-chain wallet as soon as possible.
Recently, on-chain activity has been very high, with Bitcoin racing towards 100,000, and the Meme track is also continuously showcasing wealth creation myths.
As a beginner, it is very easy to develop FOMO emotions, which is understandable. However, I would like to remind everyone again that hundreds, thousands of Meme coins appear on-chain every day, most of which will go to zero, and the probability of a golden dog (market cap over ten million/one billion) emerging is extremely low, not to mention being listed on major exchanges.
In summary, the higher the return, the higher the risk, so please be responsible for yourself!
