The recent time for memecoins like PENGUIN WHITEWHALE has shown impressive growth, and some traders have changed their lives thanks to these memecoins. Although this story is somewhat similar to buying lottery tickets, who knows, one lucky day we might be the ones who win.
To find and detect these memecoins early, following smart money wallets, wallets with high PNL, and buying accordingly will greatly increase our chances of success. Here are the detailed steps to search for such wallets.
Step 1: Use check tools
First, connect various tools like Dexscreener or GMGN to search for smart money. Type in the names of the memecoins that have grown the strongest.
Here I will directly use the hottest memecoin of the past week, which is Penguin, along with the GMGN tool.
Sort PNL in descending order
Step 2: Filter and find wallets
Of course, among these wallets, there will definitely be wallets of project devs, lucky players, and smart money, and now we will find the smart money wallets.
My criteria will be:
- Buy at a cap price that is neither too low nor too high
- Buy and DCA continuously and sell gradually
- Previously, there have been many meme bets with a stable win rate
- Have a high balance and a history of activity
For example, with a wallet ending in 6dGF
For example, with a wallet ending in 6dGF
We can see a wallet with: PNL around $500k with an average buying price of 7.5m cap; digging deeper, we will see that this wallet has a low win rate, has many bets, but this wallet only has the highest win rate for this PENGUIN bet => a lucky wallet not worth following.
In summary, we must filter wallets carefully according to personal criteria and play style, whether it is a wallet that specializes in catching dips or chasing buys... then rename it based on its play style.
Step 3: Track & Follow
Finally, proceed to track and name the smart money wallet saved according to your own play style. Here I won't say too much, but it's important to follow to know what's hot in the memecoin market, not just to buy whatever it buys, as it can lead to reverse farming.
This is a list of smart money wallets that I have collected; however, you must also track back frequently because smart money often changes or if it is out of meta, it should not be followed anymore.
Some experiences when playing memecoins
Finally, these are the experiences I've gathered over 2 years of playing memecoins since Pumpfun was born:
- Memecoins can also apply indicators and technical analysis, but running on a time frame means many people think memecoins cannot be used.
- Prioritize the story that accompanies the memecoin; PENGUIN is the story of the White House posting a penguin image + viral = a memecoin bet worth hundreds of millions of dollars.
- Being familiar with the Dev team is the best and safest; everything else is HIGH RISK.
- Community is number 1; no matter how silly or meaningless a memecoin is, as long as the community loves it and it goes viral, then there will definitely be a quality memecoin.
In summary, that's basically it; there are some minor details that I won't mention; if you find it useful, please give me a like and save it for later.
#TipsNeeded #memecoin
