It’s no more news. Donald Trump winning the election set the Crypto market for a new bull season and bitcoin just crossed $80k and several altcoins have done over 50% up, what a great time to be in the market.
The best time to stack up your bull run bags was before now, but the second best time is now. Several altcoins and Memecoins will go up 20×, 100×, and much more. This article is aimed to show you a step by step guide on how to find these gems on any Blockchain by using Dex Screener.
What is DEX Screener?
DEX Screener is a very powerful analytics tool that tracks real-time data for cryptocurrencies on several decentralized exchanges. It also helps users monitor and compare prices across multiple trading pairs and DEXs. The platform supports tokens on more than 80 blockchain networks, including ethereum, Solana, Kaspa, Binance smart chain and more.
DEX Screener helps users to quickly get details about any Crypto token such as Launch date, liquidity, price, volume, the number of current holders, recent trades, trading volume, market cap, liquidity, and more without having to visit any other website.
How to Use DEX Screener
- Visit dexscreener.com and select a Blockchain of your choice among several Blockchains.
- Once you do this, you will see a list of several trading pairs available, usually shit coins and Memecoins.
- Filters are also provided on the interface where You can filter the provided list by age, current price, transactions, volume, liquidity, and more. You can filter Dexscreener by market cap, so it brings out the lowest market cap up to the highest.
- You can also add your current portfolio without connecting your wallet. You only need to input the wallet address: Click on “Portfolio”, then enter your wallet address. All tokens within that wallet will be displayed.
Finding Profitable Tokens
Once you open Dex screener you will notice that so many meme coins does thousands of percentage in a day. So I’m going to show how to find this kind of Tokens using one as example below.
On the home page you can see that the very first coin X which has done over 69,000% in the past 24 hours, another one is COPE which has done over 6,000% and you can see other coins like that when you scroll down.
You can check the transactions (total buy and sell) that has been done any this particular token. This Token has the a total volume of $3.2 million in the past 24 hours.
Over 205,000 people have actually transacted on this token. -7.3% in the past 5 minutes, about +57% in the past one hour and +94,976% in the past 24 hours.
On the same page, you can see the liquidity of the current token which is $120,000 and fdv is $1.7 million.
Tips and Tools for Analysis
1. Many times, You may have to switch the time frame to as low as one second especially for very new tokens to see how it has been performing.
2. There is also a tool you can use to find out more information about the tokens, and if their liquidity have actually been burnt so that you don’t put your money into a coin that will end up going to zero and make you lose your money.It’s named TFF bot, all you need to do is to copy the contract address, and go to paste it in the telegram bot. It’s a bot that can help you to get fast information about new meme coins.
3. It’ll show you something like this: So you can see if the token is minable, meaning someone can just create many more of the token and dump it in the market.
4. Another important thing to check is Liquidity. is it locked? What’s the amount in liquidity? Even if it’s locked in Dexscreen, don’t only trust, copying the contract address from here or Telegram and take it to TF bot to check.
5. Also, check who the holders are and what percentage of the supply they hold. If you buy a token in which the top 10 holders have 40-50% of the total supply, that may be the end of it.
Avoiding Risky Investments
- Any coin that is mintable/minable should probably be avoided immediately.
- Another thing you need to check is the percentage of the token that is being held by the top 10% of holders. If they’re holding more than 20% of the total token supply, then it’s a very risky investment. I would avoid such token as well, so I don’t get hurt.
- One of the basic green flags to look out for in these tokens is their websites, which is very, very important. That is because it shows that the creator dedicated and has put in some efforts to make it work. Some creators don’t even put in the tiniest effort. If you find a website, it’s not a criteria for the token to do well, but it shows that the creator is committed to the project and wants to see it work, and not just fall instantly.
- Such tokens can easily rug, but anything could happen. They could also, after launch, bring out their Telegram Channel and also bring out their Twitter page, their website.
- You can check the website by scrolling down on the token’s page. If you can’t find it, you can use another website called Birdeye, for Solana tokens.
- So you will copy the contract address of the token, and paste it on Birdeye. Birdeye is like the Dexscreener of Sol ecosystem. In the absence of website, Twitter page, Telegram, or Discord. You can just avoid such coins because investing in it is a very big gamble.
FAQ
What does it mean for the owner of a memecoin to be renounced?
When the owner of a memecoin is “renounced,” it means they’ve given up control and ownership of the contract. This is usually done to build trust with the community, as it supposedly prevents the owner from making changes or manipulating the project.
What is the meaning of FDV in Crypto?
FDV stands for “Fully Diluted Valuation” similar to “Fully Diluted Market Capitalization.” It represents the total value of a cryptocurrency’s market capitalization if all tokens were in circulation.
Which wallet can be used to buy coins you find on dexscreener?
To buy coins found on DEX Screener, you’ll a cryptocurrency wallet that supports decentralized exchanges (DEXs) and various blockchain networks such as metamask and trust wallet.