Candlestick's new feature Degen Explorer is perfect for new token traders. Trading new tokens usually accompany high risk but high return. There are a lot of trading cases of Candlestick Smart Meme Pro traders killed 1-3 zeros in 10-30 mins, gaining 10 - 100x profit.
(MEH. Smart Meme Pro in 4-5 zeros, out 2-3 zeros. 10x in 5mins.??)
However, risk accompanied. Here are 5 tips to keep yourself a little bit safer.
1 - Check Liquidity Status
Liquidity is very important for a new token. The larger liquidity, the lesser risk.
When you see a new token on the Degen Explorer, click on it to check its liquidity status.
Scroll down to Add/Remove Liquidity, and change the time frame to 7d to check its liquidity status. Some key points to check
- How many ETH/WETH/USDC/USDT is added to the liquidity by the token creator? The more the best of course.
- 100% liquidity removal occurred? If yes, then it is a rug pull. Don't buy.
Everyone can create a token by creating a liquidity pool and get it traded on DEX without getting any permission. High risk, high return. It is an investor's risk tolerance.
Tip 2 - Liquidity Locked?
To avoid rug pull - liquidity locked or burned.
Copy the token address on Candlestick and paste it on tokensniffer.com to check.
If the "at least 95% of liquidity burned/locked for 15 days" are ??, then the token creator cannot rug pull the liquidity and run away. ??
Pls note that if it is ??, it does not mean the rug pull will 100% happen. It is controlled by the token creator. Some high-risk-tolerance Smart Meme Pro traders will still invest in these tokens and earn high profits.
Tip 3 - Is It A Honeypot?
Honeypot means the token contract can block an address from selling the tokens.
Copy the token address on Candlestick and paste it on honeypot.is to check.
Pls note that the honeypot status can be changed. It can be a honeypot today but not tomorrow, and vice versa.
Investing in a token which is a honeypot does not mean your fund will be 100% locked as well. As long as the contract does not block your address, then you are safe.
Some high-risk-tolerance Smart Meme Pro traders will still invest in these tokens and earn high profits.
Tip 4 - Got Continuous Buy Orders?
As you may know, one of the elements to make a new meme token stand out is continuous active buy orders.
Monitor it on Candlestick Live Trading. If the buy orders are active, it is a good signal (check as an example). If the buy action stopped an hour ago, pls be careful. (check as an example).
Tip 5 - Consider The Buy/Sell Tax
Most of the new meme tokens got buy/sell tax. It will affect your final profit ratio. Check it on honeypot.is and it will show you the buy/sell tax involved.
Hunt CITI New Token And Get 10x. Apply The 5 Tips
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