Author: Joyce, BlockBeats

Editor: Jack, BlockBeats

Amidst the fluctuating market, several "meme" coins have emerged as new favorites. Within the community, there is a circulation of screenshots showcasing high returns on meme trading. However, behind the few lucky winners, there are many more runners-up who have experienced repeated failures.

The meme market is a field full of opportunities and challenges. In addition to luck, traders also need to possess comprehensive abilities such as market insight, technical tool utilization, psychological resilience, and adaptability to changes in order to achieve satisfactory returns. Among these, the ability to use tools can be quickly improved. In this article, BlockBeats has compiled some on-chain analysis tools designed specifically for meme trading, suitable for meme coins with small market capitalization and short existence, with the hope of providing some assistance to traders interested in participating in the meme market.

Before reading this article, it is important to note that there are various tools available in the market for meme trading. Some tools, due to their loyal communities, prioritize maintaining existing communities and may reduce their exposure on social media. Some tools are just getting started, with innovative features but may lack stability. Others may require a dialectical analysis of the signals they provide due to their large user base.

Furthermore, readers need to recognize the characteristics of the meme market, namely the fast pace of trading, high returns accompanied by high risks, and that it is not a trading field suitable for everyone. Analysis tools can only play a supporting role, aiming to minimize the probability of falling into traps.

Beginner's Strategy: Analyzing CA Addresses to Understand Chip Holdings

The most common scenario faced by novice meme traders is encountering a new meme coin in the community and then analyzing the token from the perspectives of security and chip structure to decide whether to trade. In this scenario, helpful resources include website-based tools and trading bots.

Firstly, some basic information analysis is necessary.

It is important to pay attention to the security of the token contract, such as whether the token is a "rug pull," whether the contract is open-source, whether token permissions have been abandoned, and whether there are risk warnings such as locked pools. Additionally, information such as token market capitalization, number of holders, recent trading activities, and the holdings of the top 10 holders are important reference indicators for judging the safety of the token in the absence of other additional signals.

In addition, the web-based tool GMGN provides other information about meme coins, such as whether the developer has absconded, whether the team has paid for advertising on Dexscreener, official Twitter account of the token, and links to Telegram community groups. The significance of these pieces of information varies depending on the circumstances.

In the increasingly intense PvP situation in the meme market, a more in-depth analysis of the token's holding structure is required. Generally, the trading activities of smart money, KOLs, and large holders provide more effective information than other traders. For example, GMGN categorizes token traders into smart money, KOLs, whales, new wallets, snipers, large holders, and insider traders.

In addition, some monitoring tools based on TGBOT can also provide this functionality. For those seeking speed, they can immediately check the token holdings in groups with TGBOT by entering CA.

Observing the buying amount, entry timing, and profit situation of these categories, combined with discussions on social media, can assist in determining the stage at which the meme coin is currently at. The tools available in the market each have their own advantages. For example, some tools may highlight the holdings of KOLs and large holders more prominently.

Advanced Strategy: Filtering Addresses to Increase Certainty

In the meme market, there are some publicly known smart money addresses, such as addresses with high win rates circulated within the community, addresses marked by institutions, and KOL addresses. GMGN has marked some smart money addresses based on statistics, but the reference significance of officially and publicly marked addresses is not significant. Following blindly the publicly known KOL addresses is also not advisable. Meme players need to establish their own list of smart money to better survive in the market. This demand can currently be met through GMGN and other customized tools.

After seeing a meme coin with a good increase, one can search for smart money from three categories: early large holders, high-yield traders, and early buyers. The most important thing is to judge based on the timing of the purchase. If the address bought the meme coin before its rise, then its reference value is greater.

Some tools provide a more concise and intuitive viewing experience, offering only three indicators: large holders, KOLs, and insider traders. Clicking on an address allows immediate viewing of the trading operations and profit situation of the address on the current token without the need to navigate to another page.

After filtering out a batch of wallet addresses, it is necessary to observe the recent trading and profit situation of these wallet addresses. Many high-yield wallet addresses may not have tracking value and may have simply encountered a windfall after casting a wide net.

Additionally, some players may use solsCAn to search for wallet addresses and view the initial source of funds for the wallet, analyzing the "group" to which the wallet belongs. In the meme market, some smart money addresses with information asymmetry will split their operations across several addresses during trading.

The final filtered wallet addresses should be added to the watchlist, and their trading performance should be observed irregularly. When encountering a new meme coin again, one can use GMGN's "Watchlist" or some tools with monitoring functions to see if any of the watched wallets hold the meme coin, serving as a reference for trading.

Advanced Strategy: Chain Scanning + Following Trades to Stay Ahead

The trading cycle in the meme market has been compressed to minutes, making speed crucial for profitable results. However, it is important to understand that fast trading speed does not necessarily guarantee high profitability. It requires sufficient judgment and analytical abilities as support.

Typically, players compete in speed in three aspects: discovering alpha new coins (chain scanning), tracking the movements of smart money (following trades), and ultimately buying and selling (trading).

Chain Scanning

For "chain scanning," GMGN and Bullx are more commonly used.

GMGN displays a "Snipe New Coins" column at the bottom of the page. When a signal appears, a red prompt will be displayed, and users can click to view it immediately. By clicking "New Coins" on the GMGN homepage, users can browse the latest token situations and set filtering conditions on the right, including whether it is associated with social media, DEX holdings, circulating market capitalization, and number of holders, among others. However, some users have reported that the filtering conditions sometimes do not work, and they may use GMGN's official TGBOT in conjunction.

Bullx is a decentralized trading platform that covers six networks: Ethereum, Solana, BNB Chain, Arbitrum, Base, and Blast. It provides both web-based and Telegram bot trading, with key features including fast trading, limit order setting, intelligent MEV protection, new token sorting and filtering, and Pump Fun scanner.

Users can click on "chain" to only view the dynamics of new coins on the Solana and Ethereum chains. Clicking on "New Pairs" will display the 30 latest monitored tokens, with the earliest tokens typically being listed within the past 2 minutes. The available indicators include token creation time, token liquidity, market capitalization, number of trades, trading volume, and basic contract security reports. Bullx highlights abnormal data to help users discover alpha new coins as quickly as possible.

Additionally, Bullx has a dedicated "Pump Vision" section, displaying the dynamics of tokens on Pump.fun and Moonshot in three categories: new pools, internal pools about to be filled, and just filled. Users can also further filter tokens based on dev holding ratio, number of holders, liquidity, trading volume, and market capitalization within each category.

Based on community feedback, Bullx's advantages include smooth interaction, a prominent advantage in viewing new coins within minutes, and support for limit order trading. However, it may experience occasional lag and lacks smart money identification functionality, only allowing basic analysis of holding structures.

In terms of fees, BullX charges a 1% fee per transaction. Users who register through referrals can enjoy a 10% fee discount, meaning Bullx deducts a 0.9% fee. BullX also has a token issuance plan, with the second season airdrop plan currently ongoing, allowing users to receive rewards based on accumulated early bird points. Not long ago, Whales Market announced the listing of BullX (BULLX) on its Pre-Market.

Following Trades

Following trades is a significant phenomenon in the meme market, as many meme traders hope to be the first to know about the trading activities of smart money. Both GMGN and NFT Sniper allow users to create their own watchlists.

By clicking "Follow" on the GMGN page, users can view their list of watched wallet addresses, and by clicking "Activity," they can view the movements of the watched addresses in chronological order. GMGN not only provides address movements but also displays the buy-in cost, realized profit, and unrealized profit of the watched wallet addresses.

Additionally, GMGN has a "Watched" section at the bottom left of the page, allowing users to capture the movements of smart money in real time.

Some tools provide more concise feedback on address movements, offering a more agile user experience. Some tools have periodic advantages, such as providing more comprehensive identification of KOL addresses.

Trading

The tools mentioned earlier, GMGN and Bullx, both offer trading functionality. The images below show the trading interfaces of GMGN, Bullx, and another tool, each providing basic features such as custom slippage, small fixed amount purchases, and batch selling, with some differences in user experience.

GMGN displays real-time profit status near the trading operation button, assisting users in deciding on selling based on profit status. Another tool provides features such as multi-wallet synchronous operations and setting random amount trades within a range, suitable for users with more customized trading needs. Bullx allows users to place trading orders, but considering the generally insufficient liquidity of meme trading pairs, the practical usefulness of the order placement feature may be limited for some meme traders.

For mobile trading needs, the aforementioned tools all provide corresponding TGBOT services. Some meme traders may also use dedicated trading bots, such as Pepeboost, Bonkbot, MaestroBots, Trojan, and CAshbot, as introduced in BlockBeats' article "Solana Shrimp Continues, Trading Bots Are Making Crazy Profits."

Using bot tools may incur service fees, but since most meme market capitalizations are relatively small, they are more suitable for users with small capital volumes. Therefore, players need to balance speed and cost considerations.

Overall, the meme market demands heightened insight and rapid response from traders. Utilizing tools can significantly increase the survival and profitability chances of traders in the meme market. However, learning to use these tools is only the first step. True success requires a substantial amount of time and effort to cultivate a deep understanding of the meme market. Readers should analyze and apply the information based on their specific circumstances and avoid blindly copying strategies.

Finally, the cryptocurrency market is high-risk and volatile, especially the meme market. This article provides some reference information for readers with meme trading needs but cannot guarantee trading success. Traders should exercise caution and avoid investments that exceed their risk tolerance.

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