Yo, crypto fam! 🌟
Everyone’s chasing that 100x meme coin, right? Finding the next big gem in the crypto space can be a game-changer, leading to life-changing money.
But how do you spot these moonshots before everyone else? What’s the Secret Sauce?
With BullX’s advanced features, finding those crypto moonshots has never been easier.
In this guide, we’ll show you simple steps you can use to hunt down the next 100x meme coin.
Ready to get started? Sign up for BullX For Free and dive into our guide to start hunting those 100x gems today!
Let’s find that next 100x gem with these easy steps! 🚀
Step 1: Get an Overview of New Pairs
First things first, you need to get a fresh look at tokens that haven’t been on the market for too long. Tokens that have been running for 24 to 48 hours can be good, but the massive gains are made at the birth of a meme coin.
Open BullX and select “New Pairs” to see a list of all freshly created tokens. Before diving in, you may want to select the menu icon above “New Pairs,” choose “Chains,” and pick your preferred chain for trading. If you want us to cover a chain overview, leave a comment.
Once you see new pairs, sort the list by “Created” to view the freshest creations. Getting in early is key here, but never buy into meme coins without any research. Most of these tokens die within the first hour or even minutes.
The key is to get into meme coins early, do your research before investing to steer clear of scams, and then ride the profit wave.
Step 2: Apply Essential Filters
Once you have an overview of new pairs, it’s time to apply filters to narrow down the best potential meme coin gems. Using BullX’s advanced filtering options, you can quickly sift through the noise and focus on tokens with real potential. Here’s how:
- LP Burned: Ensure the liquidity pool is burned to reduce the risk of rug pulls.
- Social Presence: Check if the token has at least one active social media account. This shows a level of commitment from the team.
- Liquidity: Look for tokens with a minimum of $3000 in liquidity. This indicates that there is enough backing for the token to be tradable.
- Volume: Aim for tokens with at least $10k in trading volume. High volume indicates active trading and interest in the token.
- Market Cap: Set a minimum market cap of $5000. A lower market cap can be riskier, as it often indicates a more volatile and potentially scam-prone token.
- Transactions: Look for tokens with at least 100 transactions. This shows that the token is being actively traded.
- Sells: Ensure there are at least 20 sell transactions. This helps ensure that the token is being actively traded by the community and not just bought by the team, indicating organic behavior and reducing the risk of malicious tokens.
Step 3: Evaluate Tokens
After applying your filters, it’s time to evaluate the tokens that made it through. This step is about narrowing down your choices and preparing for deeper analysis.
- Adjust to Your Risk Level:
Based on the filters you’ve set, consider your own risk tolerance. If you’re more risk-averse, you might want to stick to tokens with higher liquidity and market cap. If you’re willing to take on more risk for potentially higher rewards, you might opt for those with lower market caps but promising activity.
2. Pick the Right Timing:
- Focus on tokens that are still relatively new but have passed your filters. Tokens that are just a few hours or days old offer the best potential for gains, especially if they show strong early interest. However, the earlier you get in, the more research is required to minimize the risks.
3. Prepare for Deep Dive:
- Once you’ve selected a few tokens that match your criteria and risk level, it’s time to dive deeper into the details. The next steps will guide you through chart analysis, checking developer activity, and more to ensure you’re making a well-informed decision.
This evaluation process is essential to refine your list of potential gems before you move on to more detailed analysis. The goal here is to find the tokens that are most likely to succeed and align with your trading strategy.
Step 4: Analyze Charts
Once you’ve filtered and selected a few promising tokens, it’s time to dive into their charts. Analyzing the chart is crucial in understanding the token’s price action and community support, helping you spot strong tokens and avoid potential scams.
- Observe How Dips Are Eaten:
- Dips and Buying Pressure: Look closely at how the token behaves during price dips. Are the dips quickly bought up, leading to a recovery in price? This is a strong indicator of demand and support from the community, suggesting that buyers are eager to jump in when the price drops.
2. Strong Token Indicators:
Consistent Uptrend: A healthy token typically shows a consistent uptrend in higher time-frames with natural corrections. This indicates a growing interest and a balanced market where both buyers and sellers are active.
Balanced Trading: If you see a mix of buying and selling with regular dips and recoveries, it usually means the token has organic trading activity, which is a positive sign.
3. Look Out for Scam Charts:
No Sells and Only Up: Be cautious of charts that show only upward movement with little to no selling. This could indicate manipulation or that the team is the only one buying, artificially inflating the price. In the worst cases, this could be a setup for a rug pull where the team dumps their tokens once enough buyers are lured in.
Suspicious Patterns: Watch for unnatural chart patterns, such as:
- Sudden Spikes Followed by Sharp Drops: This can be a sign of a pump-and-dump scheme.
- Flatlining: If the price suddenly flatlines after a period of activity, it could indicate that the project has been abandoned or that trading has been manipulated to look more stable than it is.
- Rapid, Repeated Peaks: Multiple sudden peaks with no corresponding dips can suggest that the price is being artificially pumped.
By carefully analyzing the chart, you can better understand the token’s price dynamics and assess whether it’s a strong candidate for investment or a potential scam. This step is crucial for making informed decisions and protecting your investments from risky projects.
Step 5: Check Developer Activity
Understanding the developer’s activity is crucial when assessing the long-term viability of a meme coin. BullX provides a straightforward way to track and analyze these activities right on the chart.
- Spotting Developer Buys and Sells:
- Icons on the Chart: In BullX, you’ll notice two key icons that indicate developer activity:
- DB (Developer Buy): A blue icon that appears on the chart when the developer buys tokens.
- DS (Developer Sell): An orange icon that shows up when the developer sells tokens.
- Hover for Details: When you hover over these icons, BullX reveals the amount bought or sold by the developer. This allows you to quickly assess how active the developer is in the token.
2. Interpreting Developer Activity:
- Small Positions on Pumps: If you notice the developer making small sales during price pumps, this can be a positive sign. It suggests the developer is strategically taking profits while allowing the token to grow, which can help sustain the token’s value.
- Large Positions on Dips: On the other hand, if the developer is selling large amounts during price dips, this is a major red flag. It indicates that the developer might be trying to cash out before the price drops further, which can lead to a loss of confidence among holders and potentially trigger a broader sell-off.
By closely monitoring the developer’s buying and selling activity, you can gain valuable insights into their intentions and the health of the project.
Responsible and transparent activity from the developer is often a good indicator of a project that’s being managed with the community’s best interests in mind.
Step 6: Review Holder Distribution
Evaluating the holder distribution of a token is key to understanding its stability and identifying potential risks. Here’s how to effectively use BullX to analyze this:
- Examine the Holder Breakdown.
Click on “Holders” to access a breakdown of the token’s distribution:
- Pie Chart Overview: On the right side, you’ll see a pie chart showing three key values:
- Top 10 Holders: The percentage of the total supply held by the top 10 wallets.
- Top 49 Holders: The percentage held by the top 49 wallets.
- Others: The percentage held by all other holders.
- Red Flags: If the top 10 holders control a large percentage of the supply, it’s a potential red flag. This means a few wallets have significant power over the token, and any major sell-off could crash the price.
2. Analyze Individual Wallets:
- Wallet Details: On the left side, you can see a list of all wallets holding the token, with the largest holders at the top. BullX also provides icons like Dev, Insider, Sniper, Whale, and information on which bots each wallet has used.
- Assess Diversity: A healthy distribution would show a variety of bots used by different holders, suggesting organic and diverse interest in the token. If you only see one bot being used across most wallets, it could indicate coordinated or manipulated trading activity, which is a bad sign.
If you see many wallets each holding over 5% of the supply, it indicates a high risk of price manipulation.
3. Consider the Number of Holders:
- Holder Count vs. Volume: The number of holders is shown next to “Holders”. Compare this with the trading volume to see if it makes sense. A high volume with very few holders might suggest that a small group is driving the token, which can be risky.
A balanced and diverse holder distribution is generally favorable, as it indicates a more stable and community-driven token. Understanding this distribution helps you identify potential risks and decide whether a token is worth investing in.
Step 7: Examine Bubble Maps
Bubble maps are a powerful tool in BullX that allow you to visualize the relationships between wallets and identify potential risks related to token distribution. Here’s how to use them effectively:
- Accessing the Bubble Map:
- Find the Link: Above the chart, you’ll see a link to the bubble map. Click on it to open a visual representation of wallet connections.
2. Using BullX’s Bubble Maps:
- Identify Connected Wallets: The bubble map shows you how wallets are connected. Larger bubbles represent wallets with more tokens, and lines connecting them indicate transfers between these wallets.
- Spot Clusters of Holdings: Pay attention to clusters of large bubbles that are closely connected. This could indicate that a few individuals or a coordinated group controls a significant portion of the token supply.
3. Significance of This Analysis:
- Risk of Manipulation: If you see a cluster of connected wallets holding a large percentage of the token supply, this could be a sign of market manipulation. These wallets might be working together to control the price by coordinating buys and sells, which poses a significant risk to other investors.
- Potential for Rug Pulls: A high concentration of tokens in connected wallets could also indicate the potential for a rug pull. If these wallets decide to dump their holdings all at once, it could crash the token’s price, leaving other investors with significant losses.
By examining the bubble map, you can gain a deeper understanding of the token’s distribution and identify potential red flags that might not be visible through basic holder analysis. This step is crucial in ensuring that you’re investing in a project with a healthy, decentralized token distribution rather than one that’s vulnerable to manipulation.
Step 8: Gain Insights from Top Traders
BullX lets you quickly check the top traders and spot volume bots.
- Top Traders: See who’s driving the market—whales and snipers can heavily influence price movements.
2. Volume Bots: Identify bots that may be inflating volume, signaling artificial activity.
Why It Matters: Understanding trader activity helps you gauge real interest and avoid manipulated tokens.
If you want to learn more about Volume Bots, Snipers, MEV Bots or other automated scripts, leave a comment.
Step 9: Track Volume Trends
Activate the volume indicator in the BullX chart to monitor volume trends.
- Volume Trends: Check if trading volume is stable or declining. Stable volume suggests consistent interest, while declining volume might indicate waning interest.
2. Why It Matters: Stable volume can signal ongoing demand and potential gains, while dropping volume could be a warning of a fading token.
Step 10: Inspect Website & Social Media
Evaluating a token’s online presence is crucial for understanding the legitimacy and potential of the project. Here’s how to do it:
- Evaluate the Website:
- Check for Professionalism: Visit the token’s official website. Look for signs of effort and professionalism—clean design, clear information, and well-written content are all good indicators. A website that’s thrown together with little effort or is full of errors can be a red flag.
- Assess Content: Look for detailed information about the project, including the team, roadmap, and tokenomics. A legitimate project will provide transparency and clear plans for the future. If the site lacks this information or seems vague, it’s worth being cautious.
2. Analyze Social Media Presence:
- Twitter Check: Head to the token’s Twitter account. Look for genuine engagement—comments, likes, and retweets from real users. Be wary of accounts that have thousands of followers but very little interaction, as this could indicate fake followers or bot activity.
- Content Quality: Examine the content being posted. Is it original and relevant, or does it seem recycled or generic? Recycled content or posts that don’t add value can suggest that the team isn’t genuinely engaging with the community or doesn’t have much to show.
3. Red Flags to Watch For:
- Bot Activity: If most of the engagement comes from accounts with very few followers or from repetitive comments, it could be a sign that the team is using bots to inflate their social media presence.
- Inconsistent Updates: Look for regular, meaningful updates from the team. Inconsistent posting or long gaps between updates might suggest a lack of commitment to the project.
By inspecting the token’s website and social media, you can get a better sense of whether the project is being managed professionally and whether it has a genuine community backing it.
This step is essential for avoiding scams and identifying projects with real potential.
Step 11: Analyze Telegram Community
The Telegram community can be the heart of a token’s success, often revealing more about the project’s future than any chart or website. A strong, active community indicates that the team is dedicated and that there’s genuine interest in the token. Here’s how to analyze the Telegram group effectively:
- Community Activity Level:
- Check the Pulse: Observe the overall activity in the group. Is the chat lively with ongoing discussions, or does it seem dead with only a few messages here and there? A vibrant community often signals strong support for the project and an active interest in its success.
2. Number of Admins:
- Admin Presence: Count the number of admins in the group. Having 3 or more active admins is a good sign, as it shows that the team is committed to maintaining order and providing updates. Admins should be knowledgeable and quick to answer questions from the community.
3. Frequency of Updates from Admins:
- Regular Communication: Look for frequent updates from the admins. They should be providing regular news, such as updates on dexscreener/dextools, announcements of partnerships or listings, and even small events like token burns or community giveaways. These updates build trust and show that the team is actively working on the project.
4. Engagement of Mods:
- Mod Interaction: Pay attention to how the moderators engage with the community. Are they answering questions, helping new members, and fostering discussions? Good mods keep the community informed and engaged, which is crucial for long-term success.
5. Speed of Spam Removal:
- Group Cleanliness: Watch how quickly spam is removed. A well-moderated group will have minimal spam because the mods are on top of things. If spam lingers for too long, it’s a sign that the group isn’t being properly managed, which can lead to a negative environment and hurt the project’s reputation.
6. Spotting Community Take-Overs (CTOs):
- Early Warning Signs: A Telegram group can also give you early clues about potential Community Take-Overs (CTOs), where the original team might step back, and the community takes control. Early signs are when spam isn’t removed quickly or the chat is locked for a very long time without raids.
While a CTO isn’t always negative, it’s important to notice if the project’s direction changes and whether the community can handle it. Most important is if the CTO-lead is trustworthy and knows what they’re doing.
Analyzing the Telegram group gives you valuable insights into how well a token is supported and whether the team is actively working behind the scenes. A strong, engaged community can be a powerful indicator of a token’s potential success, while a weak or poorly managed group might signal trouble ahead.
Conclusion: Wrap-Up and Key Takeaways
In this guide, we’ve walked you through the essential steps to identify the next 100x meme coin using BullX’s powerful features. From analyzing new pairs and applying crucial filters to evaluating tokens and monitoring community activity, each step is designed to help you make informed decisions and minimize risks.
Thorough research is key. By leveraging BullX’s tools, you can spot potential red flags early, adjust your strategies according to your risk tolerance, and make smarter trades. Remember, these checks are not one-size-fits-all; they can and should be tailored to match your risk level.
To maximize your gains and stay safe in the volatile world of meme coins, always be diligent, stay informed, and use the insights BullX provides to guide your decisions.
Pro Tips: Tips for Success
- Do Your Homework: Always conduct thorough research on each token before investing. Don’t rely solely on hype—dig into the details.
- Set Stop Losses and Auto-Take Profits: Protect your gains and limit your losses by setting stop losses and taking profits automatically. (We’ll cover this in more detail in a separate post.)
- Be Patient and Cautious: New tokens can be exciting, but they also carry higher risks. Take your time to analyze and don’t rush into investments.
To start putting these strategies into practice, use BullX for your trading needs. If you haven’t already, click here for free early access and take advantage of all the tools BullX has to offer.
We’d love to hear about your experiences! Share your success stories and tips in the comments below!
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