In the cryptocurrency space, memecoins have attracted a lot of intrigues. Their unique characteristics and simple application cases set them apart. These tokens frequently make use of community engagement and pop culture. This article will tell you How to Trade Meme Coins on Moonshot (Guide).
What is Moonshot on DEXScreener?
Leading decentralized exchange tracker DEXScreener has introduced Moonshot, a Solana-based launchpad intended to transform the meme coin ecosystem. Moonshot ensures investors’ accountability and transparency while lowering barriers to entry for new projects through process simplification and security enhancements.
One of Moonshot’s key features is a unique token burn process that gradually seeks to raise the token value. Furthermore, this platform prioritizes thorough audits for every project to safeguard investors and promote confidence.
Moonshot on DEXScreener has already seen encouraging early results, with some projects exhibiting optimistic tendencies despite recent difficulties in the overall market. As seen by its first success, the platform has the potential to stimulate the Solana meme coin market.
How to Use Moonshot: Step-by-Step Guide
Identifying New coins
After you set up your wallet, explore the memecoins in the following sections
New: When Moonshot launches, all meme coins are shown here. However, only those with a higher bonding curve will advance to higher categories.Rising: This section highlights meme coins that have boosted their bonding curve.Top|Trending: This section features meme coins that have gained traction and are on the verge of reaching a 500 SOL market capitalization.Finalized: This section displays meme coins successfully released on Moonshot, attaining a 500 SOL market cap.
Analysing the coins
Moonshot serves as a Solana meme coin launchpad. Your objective is to gather coins with a strong chance of reaching Raydium and yielding a profit. The following tactics will assist you in winning:
1. Steer clear of coins with little to zero bonding curve.
Investing with an initial zero bonding curve can be quite profitable if a newly issued currency finds traction. Still, if it never develops and dies off, that’s risky. Choose coins that solely show a progressive bonding curve as your aim instead.
Even though these coins haven’t made it to Raydium yet, traders have expressed some early interest in them, and they may provide modest profits (about two times).
2. Do your research
Examining the bonding curve can identify potential meme coins. Click on the chart to verify that the ongoing transactions are real.
Ensure that the coin has a fair volume, market capitalization, number of holders, and transactions; if not, this should raise red flags.
3. Snipping bots
Think of using a sniping bot. Meme coins fluctuate in value rapidly, so you need a solution that can quickly adjust to changing market conditions. Coins can be bought and sold quickly and efficiently by sniping bots.
Once set up, they might assist you in obtaining the best price for your selected meme coins at Moonshot and selling them at the highest price.
4. Make Profit
Remember that most meme coins could only rise by 2–10 times, so strive for a 100x return. Take profits gradually to protect some gains and prevent significant errors and unanticipated losses.
Stick to the Moonshot List
Following your filtering of the meme coins you are interested in, you must often monitor your DEXscreener platform’s Moonshot list. You will receive tokens from this Moonshot list that have recently seen high price gains or substantial trading volume.
Create Alerts: Most DEXscreeners also let you create alerts based on particular trade criteria or tokens. Create a few for specific meme coins to recognize trends or sudden movements when they occur according to the parameters you’ve specified for your alerting settings.
Examine Trading Data and Charts
Use the DEXScreener’s charting features to examine a token’s price history and volume from top to bottom before making any deals. A few things to be aware of are:
Volume Indicators: The total number of transactions suggests the strength of the current price trend. A strong upswing and rising volume may lead to further price appreciation, whereas a drop in volume would suggest a reversal.
Price Patterns: Determine the main levels of resistance and support. Look for patterns that could lead to a trend breakthrough or reversal.
Make a Trade
You can make a transaction after completing your analysis using the following steps.
Connect Wallet: Make sure your wallet is connected to the DEX.
Select Meme Coin: Look for the Meme Coin trading pair you wish to use. To prevent fraud, please make sure you have the right contract address.
Start Your Trade: Decide how much you want to buy or sell, then double-check every deal aspect, including the network costs.
Verify the Trade: Based on the DEX interface, Choose “Swap” or “Confirm” and validate this in your wallet. Await this on-chain confirmation.
Conclusion
On Moonshot, trading meme coins may be a thrilling experience, but there is typically a huge potential for Profit. However, it is highly recommended that one approach this market cautiously, thoroughly, and with a credible risk management plan. By following the instructions in this article, traders will be in a better position to make an informed choice that will increase their chances of success in the uncharted territory of meme coin trading.
Frequently Asked Questions
Where to trade meme coins?
Meme coins can be traded on platforms such as Binance, DEXScreener, OkX, Kucoin, etc.
What makes Moonshot’s “bonding curve” important?
The bonding curve on Moonshot shows how the meme coin is getting closer to reaching the 500 SOL market cap. This represents the possibility of a coin’s growth and investor interest. On platforms like Raydium, coins with an upward-trending bonding curve are gaining popularity and moving closer to becoming more traded and well-known.
Which risks occur when trading meme coins on Moonshot?
Meme coin trading is a highly volatile and speculative practice. Many of these meme coins are worthless and have speedy price fluctuations. Some might end up being frauds or become the target of rug pulls, in which the developers disappear after robbing investors of their liquidity and leaving them with worthless tokens. The fact that the study is critically needed must also be considered, and one must use caution when using such tokens.
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