Meme coin snipers secrets to making millions revealed

Meme coins are notable for their viral nature and the potential for substantial earnings. Recently, trading volumes of these coins have risen to new highs, catching the attention of skeptics and enthusiasts alike.

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

Cryptocurrency traders share meme coin trading strategies

Experts like Mike Novogratz of Galaxy, a leading digital asset firm, highlight the importance of meme coins, which now boast a market capitalization of more than $54 billion.

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

Read More: 7 Hot Meme Coins and Altcoins That Are Trending in 2024

Top meme coins by market cap. Source: CoinMarketCap

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

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

Atlas shares several essential strategies for those looking to navigate this market. Initially, he recommends assessing the project’s social media footprint, particularly on X (Twitter), which is key to studying sentiments. The absence of an X account often signals a project’s lack of credibility.

Additionally, Atlas recommends tools like DEX Screener or DEXTools to evaluate the distribution of token holders. It warns that a high percentage of tokens held by creators may pose a crash risk. This analysis is crucial 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 as liquidity is added to them, which can get you an easy 100x increase in a short period,” Atlas explained.

Popular Telegram bots like BONKbot, SolTradingBot, and Unibot can facilitate meme coin sniping. When a new token pool appears, meme coin snipers act quickly. They copy the contract, analyze it and quickly purchase tokens via the bots mentioned above.

Read more: Unibot: A complete guide to the Telegram bot

However, Atlas stresses the importance of caution. It highlights the unpredictable nature of trading, where no one achieves a 100% success rate.

Furthermore, Atlas suggests that traders should avoid getting distracted by the numerous emerging projects and instead focus on the established market leaders. Since the meme coin industry is highly sensitive to broader crypto trends, particularly Bitcoin movements, maintaining vigilance on overall market conditions is crucial.

KingWilliam, another cryptocurrency trader, offers further advice. He recommends monitoring new pairs on DEXScreener and emulating the strategies of the best traders. Tools like AlphaTrace provide insights into successful strategies.

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

Finally, the risk of scams is always present in the meme coin arena. Tools like RugCheck can help determine the likelihood that a project is a “rug pull,” a scam in which developers abandon a project and walk away with investor funds.

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