Key Takeaways
- Knowing how to find meme coins before they go viral is key to spotting a potential opportunity before it gains widespread attention.
- Decentralized exchanges, social media platforms, and meme coin launchpads are some of the most excellent tools to help you discover newly launched meme coins.
- You need to practice risk management when investing in meme coins, as they are volatile and subject to rapid price fluctuations.
Even though they started as a joke, meme coins have transformed themselves into a cultural and financial phenomenon in the cryptocurrency world, turning some early adopters into millionaires overnight. This article gives actionable strategies for finding meme coins early to maximize your chances of making a profit.
The Rise and Rise of Meme Coins
Born from internet jokes and cultural and social media trends, meme coins have come to represent the fun and unpredictable side of the dynamic crypto industry. Dogecoin (DOGE) started as a joke in 2013, designed to poke fun at Bitcoin’s rising popularity. What began as a quirky token to tip content creators on Reddit and Twitter soon gained global attention and was used to sponsor a NASCAR driver and support the Jamaican bobsled team to the Winter Olympics.
What followed was a massive movement of passionate community members, calling themselves the “Doge Army,” who propelled the meme coin to mainstream recognition. Out of the unprecedented success of Dogecoin, many other Meme Coins, such as Pepe Coin, Shiba Inu, and many others, emerged. Just like viral memes, meme coins are made or destroyed by internet culture.
Social media platforms like Reddit, Discord, or X have traditionally amplified the reach of meme coins and turned some into global trends overnight. However, meme coins seem to have a way of rewarding early adopters who catch the trend before it becomes viral. Since the value of these crypto tokens is directly tied to how popular they can become, those who find meme coins early by being in the know have higher chances of making big gains.
How to Find Meme Coins Early
Most people who want to try making money through meme coins have read stories of random guys who have turned a $100 investment into a life-changing fortune overnight. And because there are many such people, the hunt for the next viral meme coin continues to rage online.
Since becoming an early adopter, like knowing about a meme coin before the crowds even hear about it, is key to success, finding meme coins early can be intimidating, especially with several entering the market daily. The following are some of the strategies you can employ to identify meme coins with great potential before they go viral:
Monitor Community Dynamics
Just like bees buzz around a vibrant flower, an active community of supporters signals that a meme coin is teeming with potential. The collective energy of active supporters rallies support and creates the buzz that sustains momentum around a project. While the number of community supporters surrounding a project is a good way to find meme coins early, ask yourself if they really look excited or if the heavy lifting is being done by bots.
Run through the community’s Discord servers, Telegram groups, and other social media channels to get news about the project. A meme coin project with a group of passionate supporters will likely weather storms associated with market volatility as they believe in its long-term value. Look for a project with a community of fans actively promoting it.
New Listings on Decentralized Exchanges (DEXs)
Decentralized exchanges (DEXs) are a perfect hunting ground for anyone who wants to find a meme coin early. Unlike their centralized counterparts, DEXs are likelier to list the tokens before most people hear about them. As a result, you can quickly jump onto the bandwagon before most other people. Platforms like AlphaX, PancakeSwap, and Uniswap are popular for launching meme coins.
DEX tracking works well because, apart from being fast, the platforms don’t subject projects to strict listing criteria before they can list any meme coin. To avoid getting lost in the sea of new arrivals, you can use tracking tools like TokenSniffer or DEXTools to locate newly launched tokens and edge out any scam meme coins.
Assess the Tokenomics
A meme coin’s tokenomics tells investors about a project’s growth and lifespan. And since numbers don’t lie or need any decoding, you want to examine the following facts about any meme coin you get interested in:
Total Supply: Since scarcity creates demand, prioritize meme coins that have a capped supply, such as Bitcoin, which would make them more appealing, unlike those that go with absurdly high supplies.
Distribution: Consider meme coins that plan fair distribution so no single entity has overwhelming control. Avoid projects where small groups of wallets own large chunks, as they could efficiently pump and dump, leaving other investors counting losses.
Liquidity: A token with high liquidity facilitates easier buying and selling compared to those with lower liquidity, which can be prone to extreme price swings.
Remember that learning about the fundamentals of a project well in advance will help you find Memecoins early that have the potential to grow before the rest of the people.
Analyze Developer Credibility
Like what happens in dating, where you want to ensure that you know the person you are dealing with, ensure the project developers have solid accountability and a good track record. As much as possible, follow a project whose developers have a solid reputation, especially in blockchain and crypto development. A developer who has previously launched a successful project will likely use their expertise in the new meme coin. Use platforms like LinkedIn or GitHub to assess a developer’s credibility; GitHub is essential as it records active contributions to open-source projects and coding history.
Follow Launchpad Announcements
Coin launchpads are platform developers who introduce new digital assets to the crypto world. Such platforms can play a significant role when you want to find new meme coins before they become viral. The best thing about launchpads is that they will primarily screen and vet projects to ensure they reach specific standards and have strong foundations before allowing them, meaning your work will be easier. You can stay updated by following their announcements through social media or by subscribing to their newsletters to receive real-time updates. The Binance Launchpad is among the best examples that you can follow.
Join Private Crypto Social Media Groups
To find meme coins early, you may need to belong to a secret club, whose doors are mostly found on Discord and Telegram. These communities have experts who act as advisers to early adopters, developers, and meme coin fans. In addition to sharing tips and ideas, they also share information on dropping exclusive insights. It is on record that some of the most exciting conversations around successful meme coins that went viral started within communities where people spilled nuggets about upcoming projects.
Research Whitepapers and Project Roadmaps
A project’s roadmap or whitepaper can be compared to a meme coin’s resume and cover letter as they outline its use cases, goals, and plans for the future. Most advanced adopters who find meme coins early will have spotted a solid vision and realistic roadmap in these documents. Make decisions after understanding a project’s trajectory, including upcoming product launches, partnerships, and exchange listings, to get an idea of its potential hype and demand. Your goal is to locate a project with a strong foundation that will help it weather the stormy meme coin market.
Conduct Price Discovery Pullback Strategy
While trying to find meme coins early during their launch is a good idea, timing the right moment to act is essential. Try to focus on tokens entering their price discovery phases, which could indicate the beginning of a meteoric surge. Most people try to chase meme coins after price breakouts, but the danger is that the projects can easily shave off within minutes, and you lose your investment. A better strategy is to wait for a pullback, which means buying when the price dips before the momentum starts to build again. This way, you will catch the rising wave instead of one crashing.
Conclusion
It’s not a walk in the park to find meme coins early, but when you take the time and conduct your research with due diligence, you can penetrate the market and increase your chances of receiving a handsome reward. You can increase your chances of getting it right by using analytic tools and engaging with communities without forgetting to follow projects on social media. However, when all is said and done, don’t invest more than you are willing to lose since the crypto market remains a rollercoaster where risk and reward lie side by side.
