Naturally, you wonder how
Turns out it's a FREE TOOL we're all using WRONG
Here's the tool and how to master it in 10 minutes 🧵
Ever wonder how some make $100k daily from memecoins?
Sometimes it's not even insider info - just a keen eye on on-chain data
Master this, and you'll outperform 99% of traders
But first let me share my memecoin criteria with you.
Easiest meme coin guide
1. Go to https://dexscreener.com & click on new pairs
2. Click on project's TTwitter link
3. Check which top KOLs follow and are shilling
4. Check if there's some affiliation to previous successful projects/memes
5. Check growing number of Holders
6. Ape
And what better tool to use than https://solscan.io?
It’s a free tool you likely use daily, yet underutilized by many
Solscan has valuable, free info – a great alpha source if you know how to use it right
Even pros find Solscan a bit of a headache, so it gets ignored.
This leaves a goldmine of underutilized alpha.
If you just swoop in and make the most of this data, you will easily beat everyone else and start printing those M's.
You can use Solscan to:
⎆Track wallets
⎆Research new coins
⎆Find smart contracts
⎆Track DEXes
Most meme coins launch on
, so start there.
⎆Visit: http://solscan.io/amm/raydium
⎆Check out the hot pairs.
⎆Focus on launch dates, TVL, and 24-hour trading volume.
⎆Analyze each coin to discover the current memecoin trends & why they're gaining momentum.
Click on a coin to open its page and learn everything you need to about it:
⎆Top Holders
⎆Key metrics
⎆DEX trades
⎆Analytics
⎆Transactions
Go to the 'Analysis' section and scroll down to view the token distribution.
Check that the top 10 wallets (excluding CEXs) control less than 30% of the token supply.
You want tokens with a more balanced distribution and no overdependence on a couple of whales.
Next, lets find out who got in early:
⎆Scan the Top 50 wallets by holdings:
⎆See who bought early before the token pumped
⎆Analyze their other bags
The goal is to uncover smart money, which we'll need for the next part of our strategy.
For instance, this whale is number 5 on $POPCAT, with a $5M bag (DVMnHHwq9SNxj4Bhd8mim1AacXfPemu6WsK8ox7Vexhg)
He also has large bags in other tokens like $WIF, $MYRO & $WEN
Add them to your watchlist and keep a close eye on them to see what gem they'll buy next.
To make tracking them easier, paste their address on @CieloFinance
This tool gives you a detailed view of their transaction history, PnL & new buys.
The goal is to closely follow smart money to see what new coins they are buying.
This might just help you catch the next $WIF.
Everything in this article is my personal view and is not financial advice.
THAT'S IT FOR TODAY, HOPE YOU FOUND THIS CONTENT HELPFUL.
