All the tools you need to start trading Memecoins

On-chain memecoin trading involves a variety of tools and strategies. This guide breaks down wallets, research platforms, trading bots, and more, while providing a clear path for beginners to start.

WALLETS

A wallet is your gateway to blockchain trading. It stores your crypto assets, allowing you to send, receive, and interact with decentralized applications (dApps). Think of it as your personal key to access and participate in the blockchain ecosystem. Here are the top choices:

MetaMask
MetaMask is a favorite for Ethereum and other EVM-compatible chains like Base, BSC, and Sonic. It's user-friendly and supports browser extensions and mobile apps. Many traders create burner wallets in MetaMask for safer interactions with new dApps.
Phantom
Phantom is tailored for Solana, offering a sleek interface to manage SOL and SPL tokens. It's popular for its intuitive design and reliable performance during high-volume trades.
Zerion
Zerion aggregates multiple wallets into a single dashboard. It helps traders track DeFi positions, portfolio balances, and transactions across various EVM networks.

BUILDING KNOWLEDGE

Trading memecoins requires more than luck—it demands knowledge to navigate the fast-paced and often risky crypto space. Here's where to start:

Alpha Archive by Jack
A collection of market trends and actionable advice. It’s an excellent resource for understanding how small-cap tokens gain traction.
Starter Guide
Covers essential topics like wallet security, trading strategies, and identifying scams. A must-read for beginners.
@CryptoRugMunch on X
Exposes recent scams and highlights potential risks in new projects.

RESEARCH PLATFORMS

These platforms provide essential data for token analysis, liquidity tracking, and charting.

Dexscreener – the most used dex aggregator. Use it to find memecoins and for initial research.
DexTools – 2nd the most popular dex aggregator. Provides faster charts.

Blockchain data:

KOLs AND CALLERS

Who Are KOLs?

KOLs (Key Opinion Leaders) are influential figures in the crypto space who share token insights, trading tips, and market updates. They often have large followings and are a go-to source for emerging trends.

Who Are Callers?

Callers are individuals or bots that post token addresses and trading signals in real-time. They usually target speculative tokens and provide quick updates during volatile markets.

Tools to track KOLs and callers:

SpyDefi Bot

Monitors Telegram calls from different groups and evaluates performance.

Blazing Influencers Bot

Aggregates picks from trusted callers, especially useful for new traders.

KOLScan

Tracks influencer wallets, showing their trading activities and strategies.

NEWS AND MARKET UPDATES

Staying informed about market events is crucial:

Blazing Crypto News

Provides timely updates on events that could influence token prices.

TRADING BOTS

Trading bots are automated tools designed to execute trades based on pre-set conditions. They’re vital for traders looking to snipe tokens, manage multiple wallets, or handle high-frequency transactions. Bots like integrate advanced features such as gas optimization and slippage simulation.

For Solana

BullX: Combines trading and sniping with a simple interface.

Photon: Optimized for rapid executions during launches.

Trojan: simple and efficient telegram trading bot for Solana.

For Ethereum and Base

: For high volume traders. The most secure bot on the market. Perfect for regular trading on EVM chains. Fastest on Base chain.

Banana Gun: Best trading bot for sniping on ETH.

SAFETY AND ANALYSIS TOOLS

You need these tools to scan tokens before you ape them.

WEB TOOLS

TokenSniffer: Token scanner.
Bubblemaps: Visualizes token holder clusters to reveal potential manipulations.

TELEGRAM SCANNERS

RickBurpBot: The most popular & simple. Supports every chain you need.
PirbViewBot: Advance Scanner for Ethereum tokens.
DevNighmare: Advanced scanner for SOL tokens.

ON-CHAIN DATA

Deeper insights into market activity:

Dune: Community dashboards for market trends and DeFi analytics.
ChainEDGE: Tracks wallet activity and token movements across chains.

STARTING GUIDE FOR NEW TRADERS

Set Up a Wallet
Begin with MetaMask for EVM chains or Phantom for Solana. Always secure your private keys and consider burner wallets for risky dApps.
Explore Research Platforms
Familiarize yourself with DexTools, Dexscreener, or Solscan to track token metrics.
Learn Key Concepts
Read the Starter Guide and practice with alpha threads from Jack.
Use Trading Bots
Start small with or another bot to practice.

By combining these tools, strategies, and knowledge, you can build a strong foundation for on-chain memecoin trading. Stay alert, prioritize security, and embrace the learning curve.