The second half of 2024 witnessed the boom of memecoin with a series of names such as BILLY, MOODENG, GOAT, HIPPO, NEIRO,... However, users often only know about them when the market capitalization has reached more than 100 million USD and the media has reported on them.
So how can users find memecoins with strong growth potential? Let's find out the tools that support users to hunt for low-cap memecoins in the crypto market through the article below.
What is Memecoin?
Before learning about tools to support memecoin hunting, users should clearly understand memecoin and its nature. Memecoin is essentially a cryptocurrency created based on famous images, videos, and humorous content on the Internet. The difference between memecoin and coins like Ethereum or Bitcoin is that memecoin does not solve any problem but instead is mainly for entertainment purposes.
For that reason, memecoin has absolutely no intrinsic value but is simply pump and dump according to news fluctuations. However, memecoin brings uniqueness and excitement to the crypto market, thereby adding motivation to develop the community, spreading the appeal of the ecosystem to many users.
However, this is a double-edged sword when we, the common users, are exposed to a series of information such as "memecoin x has increased 100 times in just 24 hours" which will unintentionally cause many people to fomo and chase the peak. So how do we find potential memecoins in the market before they heat up? The answer is the tools below and how to use them.
Potential Meme Coin Hunting Tools to Help Users
X (Old Twitter)
When it comes to user support tools, X is a platform that cannot be ignored. All information from big to small, from politics to finance and economics can be found on X. And the same goes for memecoin. To make the most of the search capabilities that X offers, users can go through the following points to find potential memecoins, thereby increasing the chances of winning in the market.
Follow KOLs
Currently, X has many KOLs active in the crypto field who constantly post useful information. And this is also true for the memecoin sector, these KOLs often act as pioneers, researching and evaluating the potential of the team behind it to bring users quality memecoins.
However, users need to be really careful when following these KOLs because the nature of shill tokens is often the result of cooperation with the project or simply the KOL wants to attract liquidity to close a dead memecoin. Therefore, to ensure the safety of assets, users should be careful and equip themselves with certain knowledge.
Find out more
Memecoins are very easy to create at the moment, even a simple user only needs to post a tweet on X to create a token on the makenow.meme platform. Therefore, to ensure that you are buying the right memecoin you want, users should search for the project name and ticker to buy the right token.
After finding the right memecoin that they want, users copy the smart contract of that token and paste it into DEX Screener to see the chart, market cap, and liquidity to get an overview of the memecoin's pump and dump potential. In addition, having X of a memecoin can help users know who is following this token. A tweet from a famous individual can cause a memecoin to increase in price sharply, as in the case of MOODENG on Ethereum.
Trading Bot
Banana Gun
Banana Gun is an automated crypto trading tool that helps users minimize the steps when trading memecoin while still maintaining safety and efficiency. Currently, Banana Gun is providing features such as automatic trading, copy trading, automatic trading as well as limiting errors when trading.
SolTradingBot
SolTradingBot is a Telegram Bot that helps users optimize their token trading on Solana. This tool will provide users with features such as limit orders, auto-buy/sell, copy trading, sniping, and trading. In addition, SolTradingBot is also trusted by users thanks to its seamless integration with leading DEXs on Solana such as Raydium, Jupiter, and Orca.
Wallet tracking tools
Tracking wallets that hold a large portion of a memecoin’s supply can provide users with a comprehensive overview of the tokens they hold. Bubblemaps is currently the platform that provides users with the ability to track wallets holding memecoins across different chains. Users can copy the smart contract and paste it into the search box to find the information they need.
Summary
Above is an overview of the tools that support users in hunting low-cap memecoins in the crypto market. Through this article, we hope to provide users with the most comprehensive overview of these tools as well as how hidden gems are found.
