The most detailed tutorial on essential tools for mining Sol chain hundred times Meme, a must-see tool for beginners:
@DEXToolsApp @birdeye_so @dexscreener
This tutorial takes dextools as an example: https://dextools.io/app/cn/pairs
The tutorial begins:
Filter/Screening criteria
1. You can see the daily Meme/土狗 coin rise and fall rankings, most popular tokens, and tokens with social media updates on the homepage dashboard.
2. Scroll down the page to see all the coin pair information, click the upper right corner “Customize Filter” to filter out tokens.
➢Take a filter name, and customize multiple filters based on different risk preferences;
➢ Open the two options for Token type, which can filter out stablecoin pairs and pairs that do not provide social network information;
➢ Select Solana chain;
➢ Choose all exchanges;
➢ The settings for liquidity and fully diluted market cap data depend on personal risk preferences;
◈ Total liquidity refers to the project's liquidity. Generally, newly released coins have smaller liquidity and lower market cap, leading to greater upward potential and corresponding risks of running away or going to zero; similarly, coins with larger liquidity pools and higher market caps have lower risks of running away, but the potential for price increase is also limited;
◈ If your risk preference is average and you want to be more stable, you can set liquidity to $50,000-$1 million;
◈ If you want to aim for a hundred or thousand times increase, you can set the minimum liquidity value lower, like $1000, $5000, etc. This is like gambling.
◈ T. M.Cap is the fully diluted market cap, not the liquidity market cap. You can set it slightly larger; new coins generally won't have a very large market cap. If you want to aim for a hundred times opportunity, you can set the market cap lower, like $100,000, $50,000, or even lower; those seeking stability can set it at $500,000, $5 million. Set according to your risk preferences.
➢ Contract safety: You can choose audited token contracts or contracts without warnings, which can filter out some junk projects.
➢ Pool creation time: The shorter the creation time, the more volatile the price fluctuations and the higher the rug risk. Here you can set the opening time to more than 6 hours to filter out some projects that might rug quickly; of course, this will also filter out many projects that have been open for days or months, most of which have little opportunity left. So you can also set the time to less than 1 day, 3 days, etc., to filter out relatively early Meme and shitcoins. Other options can be left blank for specific projects to look at.
1. After filtering, you can see a list of all tokens that meet the requirements.
2. Look at the 24-hour price change. Those that have already increased nearly a hundred times can be filtered out first, as jumping in now is easy to get stuck at the peak. Find some tokens with moderate increases to check.
3. After entering the detail page, first check whether the token is safe. Early Meme and 'shitcoin' tokens have many fraudulent behaviors, such as pulling liquidity, dumping, modifying contracts; buying such tokens generally leads to losses, the primary task is to filter out these tokens.
4. The dextools platform has a built-in project credibility score which can help you check some content. Click on the page's 'Check Audit' to view:
◈ Is the contract verified
◈ Is it a honeypot? A honeypot means you cannot sell after buying.
◈ Tax rate for buying and selling tokens
◈ Is it mintable? Mintable means that the project can dump by issuing more tokens.
◈ Can the trading tax be modified?
In addition to the detection by dextools, you can also copy the token contract address to other detection websites for checking and combine data from multiple sources.
Some detection tools: https://honeypot.is
https://app.quickintel.io/scanner
https://gopluslabs.io
If the comprehensive assessment shows that the token is relatively safe, you can proceed to the next step of specific analysis
Specific project analysis
(The tokens in the legend are for example only and are not any investment advice)
1. Look at the K-line chart, in the upper left corner you can choose the time scale. New tokens can be set to units, while older tokens can have a larger time scale; through the K-line, you can see the historical highest price of the token, and where the current buying position is, whether it is left-side trading or right-side trading, etc.
2. On the left side of the K-line graph, you can see the token's market cap, liquidity, 24-hour trading volume, and other data, which can roughly judge the upward potential of the token; generally, tokens with thick liquidity pools and low market caps are more stable;
3. Further down, you can see the price fluctuations of tokens over various time periods, the number of trades, and the number of buyers and sellers. You can compare the number of holders to see how frequent the trading is; if a project has a basic trading volume, it is likely nearing its end.
4. The historical trading data can be seen at the bottom of the K-line chart. Through the filter, you can identify some large holders' wallet addresses and observe their movements.
5. Community situation: On the top of the K-line chart, there are daily links to the token's Twitter, official website, TG, etc. You can investigate whether the concept of the project is meme enough, whether Twitter operation is active, whether there are many real followers, and whether there are KOLs promoting it. You can also feel the community atmosphere on TG/Discord to see if it is fomo. After this assessment, you can generally judge whether the token is reliable.
Token purchase
You can directly purchase on the swap of dextools or copy the token contract address to buy on @solana's DEX: Recommended DEX
1. Jupiter: @JupiterExchange
Accumulating trading volume can also earn $JUP airdrop every January.
2. Raydium: Some particularly early Meme/shitcoins cannot be purchased on Jupiter, but can generally be bought on @RaydiumProtocol.
3. Orca: @orca_so
Follow me to learn more about cryptocurrency. Having been through the rain, I am willing to hold an umbrella for the retail investors! I am B-circle Life (originally Technician No. 6), follow me, and let’s walk together on the cryptocurrency journey! Don’t forget to like and share!