Identifying tokens or meme coins before they pump requires a blend of research and market analysis. With projects like Dogecoin, Shiba Inu, and Pepe becoming some of the best-performing assets in recent years, knowing how to find new meme coins early can be one of the most lucrative skills for investors.
However, it is no easy task. There are over 20,000 cryptos in circulation, so finding the next Pepe or Dogecoin requires more than luck. This article explores the top methods to help you find the next big meme coin before the masses.
1. Look for High Potential Presales:
A crypto presale is an event where a crypto project sells tokens before it goes live for trading. Presales are typically used to fund the project. For example, funds can support the smart contract development or fuel the project’s marketing.
However, presales can present high risk since their tokens are yet to launch. Therefore, understanding how to spot the best presales is crucial.
There are several things to look for in high-potential token or meme coin presales. Firstly, factors like a large social media following, utility of the coin, media coverage, or the ability to quickly raise funds indicate community interest, which is crucial for the success of new meme coins.
Additionally, a project’s ability to secure centralized or decentralized exchange listings proves its team’s ability to take action and increases its upside potential.
Another factor to look out for is tokenomics. Top ICOs often allocate significant portions of tokens to the community. This increases the project’s decentralization, mitigating the team’s risk of dumping tokens and enabling more organic price action. Also, meme coins that act as staking coins or provide community rewards to incentivize long-term holders increase the project’s potential.
Finally, projects that bring something new to the crypto market generally have the best chances of success. The best example is Decentraland(the first decentralized metaverse built, governed, and owned by its users).
Another good example can be Wall Street Memes
Wall Street Memes – Leading Meme Coin with Over $25M Raised via Presale, Has Even Gained Elon Musk’s Attention on Twitter.
Wall Street Memes is a presale meme coin that has raised over $25 million in four months and is widely touted as the next big meme coin.
The project also owes a significant portion of its presale success to the social endorsements it has garnered, like in the above example.
2. Join Crypto Discords and Other Social Channels
The next method of how to find high-potential meme coins is joining social channels.
Crypto is a high-paced industry. However, meme coins take this to a new level, with new trending projects sometimes released hourly. One of the top ways to sift through the noise and identify new emerging projects is by joining the best crypto Discord groups and utilizing other social channels.
There are many types of channels, ranging from mainstream crypto news alerts to groups dedicated to ultra-degen low-cap plays and DRC-20 tokens.
The Jacob Bury Discord channel is the best group that provides a blend of high-potential projects while minimizing risk. As well as giving alpha on new emerging meme coins, Bury also delivers deep market analysis, combining crypto fundamental and technical analysis to help the community understand his decision-making process.
Another good Discord group for beginners is Cryptohub, which provides fundamental analysis and boasts over 28,000 members.
3. Use Tools Like DEXTools and CoinCodex
Besides identifying high-potential presales and joining social channels, one of the best ways to find high-potential tokens or meme coins is by using data and analytics tools that allow you to scan the blockchain at the click of a button.
Data and analytics software like DEXTools and CoinCodex provide insight into countless data points. For example, you can browse the highest daily gainers, top trending cryptos, and much more on DEXTools. It also provides project-specific data like market cap, trading volume, locked liquidity, the amount of holders, etc.
Meanwhile, CoinCodex provides even more extensive data sets. For instance, you can browse new ICOs, IEOs, and IDOs.
On top of that, CoinCodex’s newly listed page provides real-time data regarding the most recent cryptos.
Another tool currently attracting attention is Launchpad XYZ, a platform providing users with 10x trades every month. According to its website, Launchpad XYZ has recently delivered three predictions of 10x gains or more. Following one of its calls, the token (ELON 2.0) shot up a whopping 29x.
Unlike CoinCodex and DEXTools, Launchpad XYZ is highly beginner-friendly. It has an intuitive user experience and caters to all levels, providing countless sophisticated tools for a trading edge.
It offers professional trading features like a trading terminal and even an AI language model to assist users with their trade decisions.
4. Smart Contract Audits and Blockchain Activity Tracking
Finally, thanks to blockchain’s transparent and auditable nature, users can track wallets and see the new coins that successful traders or whales are buying.
There are several ways to do this. Firstly, you can visit a popular blockchain explorer like Etherscan, filter one of the top meme coins like Pepe or Shiba Inu by the largest holders and sift through the wallets, manually tracking their activity.
While this method is slow, blockchain explorers are powerful tools that provide much flexibility in hunting for new meme coins.
You can also speed the process up with notification alerts. For example, the Twitter account Lookonchain provides daily updates on blockchain activity, mainly tracking whales and providing a blend of new meme coin trading and insights into more prominent cryptos.
However, wallet-tracking software could be helpful if you want deeper data insights.
Firstly, projects with smart contract audits are generally safer than those without. For example, the German smart contract auditing firm SolidProof audited Wall Street Memes. The findings identified no low, medium, or high-risk issues regarding its smart contract, meaning the project is less at risk of a rug pull than some other meme coins.
Another way to check a project’s smart contract security is via DEXTools, which considers factors like a verified smart contract, the potential for a honey pot scam, and buy and sell tax. The platform gives each project a rating of 100, known as its DEXTscore.
However, it is important to note that DEXTools only audits projects already launched. You must manually search for the audit on the presale or auditor’s website for presale projects.
Another factor is robust tokenomics. Projects that dedicate a significant portion of tokens to the team or anyone besides the community could pose a risk to the community by dumping their tokens.
Finally, a thriving and engaged community is another sign of a high-potential meme coin. This is because the project can benefit from a network effect, as we have seen with Shiba Inu and the launch of Shibarium recently. On top of that, a thriving community provides more liquidity, which incentivizes the project’s team to continue building the project.
Conclusion
Look for high-potential presales – Identifying popular presales quickly selling out is one of the best ways to find high-potential meme coins early. Join crypto discords and other social channels – Meme coins are socially driven, so it is important to be social when hunting for the next high-potential project. Use tools like DEXTools and CoinCodex – Analytics tools and data provider websites can prove invaluable in quickly aggregating data on the latest and greatest projects to one dashboard. Track blockchain activity – By “following the money” and watching the wallets of successful meme coin traders and whales, you can sometimes discover the next meme coin to explode.
