Bankless: How to Ride the Meme Wave? These 5 Tools Are Worth Knowing

Original Title: Master Memecoins with 5 Must-Have Crypto Tools

Original Author: DavidC

Original Source: Bankless

Original Compilation: Yvonne, Mars Finance

We are back in the bull market surge.

Token prices can rise rapidly, and trading volumes can push networks to market limits, which is hard to imagine when the market is less optimistic.

To trade cryptocurrencies, whether altcoins or meme coins, you must stay ahead of the curve.

Retail investors need to master the right toolkit to find the right tokens at the right time, ensuring they don't miss out on opportunities.

In this article, we will outline 5 essential tools for readers to hunt for tokens.

1. Dexscreener

Dexscreener is favored by both beginners and OGs, and it has become the go-to platform for altcoin and meme coin hunters.

Dexscreener provides real-time data streams, allowing users to view data charts every five minutes. It can discover newly released meme coins across 30 blockchains and track their dynamics.

Additionally, the Dexscreener iOS and Android apps can enable push notifications based on percentage changes, target prices, or price movements over set time periods, meaning you can always keep your finger on the market's pulse. If you want to ride the wave of token launches on Solana and Ethereum, or just want to grasp the pulse of DeFi, Dexscreener will be your "lifeline."

2. Arkham Intelligence

Arkham Intelligence reveals the often opaque nature of blockchain transactions, allowing users a glimpse behind the anonymous curtain.

Arkham has various features, enabling users to trade intelligence related to specific wallet addresses, displaying current/historical holdings and overall profit and loss (PnL).

Whether for investment or trading, these tools can help traders compile a list of holders with sufficient information, providing a reference for token allocation. Like Dexscreener, Arkham also allows users to enable real-time push notifications to update on specific wallet movements, with notifications sent via Telegram, email, or even Slack (your choice).

Another powerful feature of Arkham is its ability to identify top holders of tokens, providing insights into whether they are experienced on-chain actors (identifiable through Ethereum Name Service domains (ENS) or activities as OpenSea users) or if they are just one-time wallets.

In summary, whether your goal is to discover the next big event, prevent fraud, or simply track the movements of influential wallets, Arkham's AI-powered platform offers a complete set of tools to help you gain deeper insights into the blockchain.

3. Zapper

Zapper transforms the blockchain into a social media platform, helping you easily browse popular DeFi applications and tokens, seasoned DAOs, and NFT collections.

This monitoring can be filtered by networks (i.e., Base, Arbitrum, ETH) or other specific criteria, including top holders of tokens, recent buy/sell orders, or the most profitable traders. This user-friendly interface allows both newcomers and veterans to track their digital footprints across networks while also digging deep, monitoring portfolios, and even swapping or bridging assets between EVM chains. Additionally, it serves as a SocialFi platform where you can create or join token chats.

Overall, Zapper treats the blockchain as a social network (arguably, it is a social network), listing trending tokens, projects, and NFTs in a familiar, easy-to-read format, helping you keep pace with its rapid developments.

4. DefiLlama

In the ever-changing DeFi landscape, DefiLlama stands out as a tool for tracking its movements, monitoring the total value locked (TVL) across all DeFi, blockchains, and dApps built on them.

DefiLlama features an easy-to-use database that allows users to get an overview of the DeFi landscape, assess trends such as stablecoin flows and trading volumes over specific time periods, and zoom in on specific ecosystems and protocols to analyze trends like the correlation between token prices and TVL or user growth over specific time frames. Additionally, it can track fundraising announcements for new protocols, categorizing them by type and supporters, helping you with pattern matching.

Whether you're analyzing market capacity, peeking into protocol revenues, or tracking venture capital movements, DefiLlama ensures you have the latest and most comprehensive data at your fingertips.

5. Coinglass

For those venturing into the cryptocurrency derivatives space, Coinglass provides indispensable resources.

The platform stands out for its comprehensive data on cryptocurrency derivatives, such as futures trading volume, open interest (both of which are often used to gauge market fear or greed), and the very useful Bitcoin Rainbow Chart.

The Rainbow Chart helps users grasp the market cycles of Bitcoin volatility, providing insights into whether this flagship cryptocurrency is currently overbought or underbought, and what actions should be taken as a result. As shown in the chart, it also illustrates how Bitcoin's volatility decreases as it matures, giving a sense of where and at what price Bitcoin might peak in this cycle. With Coinglass, you can turn informed guesses into well-considered decisions.

Conclusion

In the current bull market, every second and every satoshi counts, making these tools not just convenient but essential.

From Dexscreener's real-time tracking and Coinglass's market insights to Arkham's sharp analysis, DefiLlama's data aggregation, and Zapper's familiar format, each tool adds unique functionality to your cryptocurrency arsenal.

Whether you're a day trader, a long-term investor, or somewhere in between, leveraging these tools can mean thriving in the vibrant world of cryptocurrency, rather than just surviving.