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Meme Coin Snipers’ Secrets to Making Millions Revealed

2 mins
Updated by Harsh Notariya
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In Brief

  • Meme coin trading is gaining traction, with volumes reaching new highs and significant market interest.
  • Experts stress thorough research, strategic execution, and vigilance to profit from meme coins.
  • Tools like DEX Screener, bots, and RugCheck are essential for navigating meme coin trading safely.
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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.

However, meme coin trading requires thorough research, strategic execution, and constant market monitoring.

Crypto Traders Share Meme Coin Trading Strategies

Experts like Mike Novogratz from Galaxy, a leading digital asset company, highlight the significance of meme coins, which now boast a market cap of over $54 billion.

“Meme coins – whether you’re a fan or not – have become a cornerstone of the crypto economy… In today’s market, they’re one of the most powerful narratives out there,” Novogratz said.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Top Meme Coins by Market Capitalization
Top Meme Coins by Market Capitalization. Source: CoinMarketCap

Meme coins attract investors with their rapid profit opportunities. Atlas, a crypto analyst, explains that knowledgeable traders can achieve up to 100X returns with meme coins.

“Once you understand the basics of trading, you can start analyzing and buying tokens. A few clicks can make you a millionaire; just spend a little time,” he asserts.

Atlas shares several essential strategies for those keen on navigating this market. Initially, he advises evaluating the project’s social media footprint, especially on X (Twitter), which is crucial to studying sentiments. The absence of an X account often signals a project’s lack of credibility.

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 scams.

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 Unibot 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. 

Read more: Unibot: A Comprehensive Guide to the Telegram Bot

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.

“The wallet should have a 60-70%+ win rate and $500-600,000+ in PnL,” KingWilliam suggested.

Lastly, the potential for scams is ever-present 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.

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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...