Author: serp1337.eth | NFT Degen

Compiled by: Felix | PANews

Did you miss PEPE or AIDOGE? Are you afraid of going bankrupt? This article will introduce common tools for entering the Meme coin sector.

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Where to Buy/Sell What is Slippage Where to View Charts How to Avoid HoneyPot How to Track Meme Coins

NOTE: This guide is for EVM blockchains (Ethereum, Arbitrum, BSC, etc.).

DEX

The best thing about the EVM blockchain is that all mainstream protocols support multi-chains. It is generally best to use 1inch because 1inch is a DEX aggregator and can find the best path for transactions. However, for newly listed hype projects, it is better to use Uniswap.

Slippage

When using DEX, adjust the slippage settings. Slippage is the percentage change in price that can occur when a trade is confirmed. For tokens with fees, use a slippage slightly higher than the fee itself. For example, if the fee is 7%, use a slippage of 14%.

For tokens with no fees, set slippage at 2-3% to avoid falling victim to MEV bots. These rules also apply to selling tokens. Be aware of slippage, as many people lose money due to slippage-related mistakes.

chart

To view a token chart, enter the token’s contract address in the search bar of the tracking tool. The following tools are available for reference:

DEXTools：http://dextools.io Defined：http://defined.fi DEX Screener：http://dexscreener.com

HoneyPot (honeypot scam)

HoneyPot is a smart contract that appears to be legal, but it deceives investors into buying coins but prohibits sales. To avoid this, be sure to check the purchased contract address at http://honeypot.is (BSC and Ethereum are supported).

Token Tracking

Etherdrops Bot is a useful tool for tracking wallets and coins. Wallets, coins, and more can be tracked using their Telegram bot.

Note that Meme coin trading is not suitable for everyone and involves certain risks.

Related reading: Review of the surge in PEPE and AIDOGE, how we dance with meme coins