Meme coins stand out due to their viral nature and potential for substantial gains. Recently, the trading volumes of these coins have surged to new highs, capturing the attention of both skeptics and enthusiasts.
Furthermore, Atlas recommends tools like DEX Screener or DEXTools to assess the distribution of token holders. He warns that a high percentage of tokens held by creators can pose a crash risk. This analysis is critical as it helps eliminate potential
Another tactic discussed is token sniping, which involves purchasing tokens as soon as liquidity is provided.
“Sniping is buying tokens at the moment liquidity is added to them, which can bring you an easy 100x increase in a short period,” Atlas explained
Popular telegram bots such as BONKbot, SolTradingBot, and can facilitate meme coin sniping. When a new token pool appears, meme coin snipers act fast. They copy the contract, analyze it, and quickly purchase tokens through the aforementioned bots.
However, Atlas emphasizes the importance of caution. He highlights the unpredictable nature of trading, where no one achieves a 100% success rate.
Moreover, Atlas suggests that traders should avoid getting distracted by numerous emerging projects and instead focus on established market leaders. As the meme coin sector is highly sensitive to the broader crypto trends, especially Bitcoin’s movements, maintaining vigilance on overall market conditions is crucial.
KingWilliam, another crypto trader, offers additional advice. He recommends monitoring new pairs on DEXScreener and emulating the strategies of top traders. Tools like AlphaTrace provide insights into successful strategies.
should have a 60-70%+ win rate and $500-600,000+ in PnL,” KingWilliam
Lastly, the potential for scams is ever- in the meme coin arena. Tools like RugCheck can help determine the likelihood of a project being a ‘rug pull,’ a scam where developers abandon a project and leave with investors’ funds.
