It has great potential, but many people need to learn its usefulness. We put out this article as a guide to identifying Solana coins with the potential to give you 50–300x returns. Let’s discover more about Solscan.
Why Solscan?
provides free real-time data on Solana Blockchain at no extra charge. Knowing its usage lets you find promising gems and build wealth by investing early. The key to generational wealth in the crypto space is being early. By using Solscan for your trading activities, you will be ahead of others and milk the most out of the market.
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To get started, visit its website. Here’s a step-by-step guide on how to use Solscan:
- Accessing and navigating to the Raydium page on Solscan.
- It will feature top tokens, supply schedules, , and 24-hour volume data. These metrics assist you in discovering meme tokens with potential.
The second step is a token analysis. Let’s say you found a token that has potential. Here’s what you should do:
- On the token’s page, Solscan offers quick analytics. It provides information on the most significant holders and detailed transactions.
- When you see any token, you should consider the amount in circulation in the hands of the first ten holders of $NELLY. If the top wallets get 40–50% of the circulation, it’s not a good idea to invest in them. It may prompt massive liquidation.
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The third step is the holders’ analytics or numerical calculations of the deposits.
- There must be an equal distribution among the holders except for the wallets. CEX wallets keep massive volumes of coins due to having many users.
- Spotting those who get in early and sell at the top is also helpful in understanding the market. For instance, it can be insightful to understand a prominent holder of , who also owns other meme coins.
Extra Tools
Aside from Solscan, there are other tools you can also use to improve your analysis. You can use Etherdrops Bot. To simplify your analysis, use . All you have to do is copy the addresses you want to analyze and paste them.
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For example, the memecoin market is a mix of all sorts of scams. The most popular ones would suck up your liquidity not quite long after launch. It’s safer to conduct research and stay alert. Also, analyzing transaction patterns and holder distributions can help you avoid these pitfalls.
Analyzing coins that can do 50-300x will change your trading experience and outcome. You can stay ahead of the market by leveraging real-time data and the extra tools in this article. The key to succeeding in crypto trading is knowing the right tools to use. Stay informed and use these tools in your next trade and research.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
