How to Find New Meme Coins Early 2023?
10/14/2023 14:23
Don't miss out on new meme coins in 2023! Find them early using our research findings.
Although the broader cryptocurrency markets stall or splutter, 2023 has been a year of meme coin success. Meme coins like Shiba Inu and Pepe have outperformed many other cryptos. To get a good return on upcoming fan-driven cryptos like these, the trick is to find new meme coins early but really research these risky opportunities.
There are a few ways to garner clues to what the next big meme could be, such as using social media, leveraging analytics tools, and spotting fast-moving presales, and they’re summarized in this article to kick off any meme coin search.
The Best Ways to Find New Meme Coins:
- Follow social channels and trends: A meme coin’s success is often led by its supporting community, so check out the crypto chatter and the upcoming meme’s community, as it’s often possible to find a meme coin early.
- Identify high-return presales: If a crypto meme presale appears to be selling out fast, it’s a potential indicator of future success. It could be time to research the meme coin further. Remember, presales are risky.
- Leverage tools like CoinCodex, DEXtools and Debank: New cryptos won’t always be on exchanges, but analytics tools and data providers like CoinCodex, Dextools, and Debank can provide clues to the next big meme.
- Track blockchain activity: What are other meme hunters buying? Learning and tracking blockchain activity using tools like Etherscan and Lookonchain can reveal which memes other investors are backing.
A Deeper Dive into How to Find Meme Coins Early
Let’s dig deeper into using these methods to find meme coins early. When using these methods, it’s critical to follow up on identifying a potential meme coin success with thorough research. New projects, by definition, won’t have much history, but there are pointers to follow to avoid scams and flops.
- Follow social channels and trends
A meme’s success is almost always driven by its fan base on social media, which provides its popularity; the higher the popularity, the more investors and the higher the price will rise. So, it’s within crypto communities, both social media and forums and by checking out how active a new meme’s fan base is, it’s possible to find a meme coin early, sometimes really early.
New meme coins can first gain attention in Reddit, Telegram groups, Discord or Twitter. It is worth watching out for mentions of new projects or running quick #hashtag #memecoin #cryptomeme searches to see who is promoting which new meme coin.
Try CryptoHub on Discord or B2C Crypto Calls & News on Telegram.
- Identify high-return presales
Crypto pre-sales or ICOs offer coins for sale before a full launch or listing on cryptocurrency exchanges. These projects are in the very early stages and are often unknown, so the risk of finding a scam or a project that fails without ever taking off is high.
Remember, too, that meme coins can be strongly influenced by crypto whales and market sentiment, and they usually have few supporting fundamentals or utility, meaning their price can crash completely at any stage, so investors should only ever invest what they can afford to lose.
However, some of the most successful cryptocurrency projects began as unknown projects with pre-sales and ICOs to fund their development. It is high-risk, but it can be a high reward for finding a quality project.
Quality meme coin projects will have a credible team, a strong community, good tokenomics/governance mechanisms, potential exchange listings, and will have support/be able to raise funds.
- Leverage tools like CoinCodex, DEXtools and Debank
Data and analytics tools allow for speedy investigation of promising blockchain activity and potential new projects.
-
- CoinCodex: Crypto market aggregator, displays trending cryptos and new ICOs as well as coin information like market capitalization and trading volume. Lists potentially undervalued cryptos and meme coins and has a specific dashboard for meme coins only.
- DEXTools: Dashboards show “Daily gainers” and “Daily losers” coin information and recently updated crypto coin social media accounts. DEXTools can also help check a project’s smart contract security and provide a DEXTscore for newly launched projects.
- Debank: Tracks over 800 blockchain protocols and on-chain activity with comprehensive data and analytics plus portfolio tracking.
- Track blockchain activity
There are a number of tools that allow the tracking of active wallets and blockchain trends to find out what meme coins traders are buying. Here are two examples.
- Etherscan: Etherscam can be filtered by meme coin to discover the activity of other coin owners or discover if the number of wallets owning a meme coin is growing or falling. Blockchain’s transparency means you can even check if project team members are selling their own meme coins.
- Lookonchain: Daily updates on blockchain and whale activity. Find successful “smart money” wallets and track them on DeBank to see what they are buying.
How to identify high-potential meme coins?
Does the meme coin have a strong community, social backing, or positive social media sentiment?
Go beyond looking for mentions or checking accounts exist. Does the meme coin have genuine followers and fans? Are likes genuine, or does the coin’s interaction look like it’s from bots? Is the community waiting excitedly to get their hands on these memes? Are crypto influencers talking about this coin, and do you trust them?
Is the team behind the meme coin credible?
Can you quickly find the project team on the meme coin website? Have they launched other projects? What’s their background on their LinkedIn profiles? Both Google and LinkedIn are great resources for checking out meme coin developers and project backers. Also, look for quality project roadmaps and detailed whitepapers.
What are the meme coin tokenomics or smart contract audit results?
There’s a lot to consider here, so make sure you understand how crypto coins are created, launched, and governed. Will tokens be burned in the future? How many meme coins are allocated to the community for decentralized governance or liquidity? Or do too many coins seem to be allocated to the project team? Does the project have a smart contract audit, and what’s the rating?
Does the meme coin have utility, or is it unique?
Crypto coins or memes that have utility beyond being an asset can show higher potential. Is the meme highly collectible? Scarce? Is the meme coin stakable to earn yields? Is it part of a game or a series? Does it leverage a brand?
Frequently Asked Questions (FAQs)
The pointers in this guide will help identify new meme coins early on in their launch phases, and any high-potential meme coins could explode. Meme hunters will be looking for strong social media and community backing, credible developer teams, well-structured tokenomics and governance, and other project strengths or use cases, as well as signs investors are already buying.
The newest meme coins won’t yet be listed on popular cryptocurrency exchanges, but how to buy a meme coin (and any terms and project information) should always be clear on a meme coin project website. Buying meme coins, pre-sales, and ICOs are some of the riskier ways to invest in cryptocurrency and are a gamble, so extensive research and due diligence are necessary.