Candlestick’s new feature Degen Explorer is perfect for new token traders. Trading new tokens usually accompany high risk but high return. There are a lot of trading cases of Candlestick Smart Meme Pro traders killed 1-3 zeros in 10-30 mins, gaining 10 – 100x profit.
MEH: Smart Meme Pro in 4-5 zeros, out 2-3 zeros. 10x in 5mins.
However, risk accompanied. Here are 5 tips to keep yourself a little bit safer.
Tip 1 - Check Liquidity Status
Liquidity is very important for a new token. The larger liquidity, the lesser risk.
When you see a new token on the Degen Explorer, click on it to check its liquidity status.
Scroll down to Add/Remove Liquidity, and change the time frame to 7d to check its liquidity status. Some key points to check:
- How many ETH/WETH/USDC/USDT is added to the liquidity by the token creator? The more the best of course.
- 100% liquidity removal occurred? If yes, then it is a rug pull. Don’t buy.
Everyone can create a token by creating a liquidity pool and get it traded on DEX without getting any permission. High risk, high return. It is an investor’s risk tolerance.
Tip 2 - Liquidity Locked?
To avoid rug pull – liquidity locked or burned.
Copy the token address on Candlestick and paste it on tokensniffer.com to check.
If the “at least 95% of liquidity burned/locked for 15 days” are , then the token creator cannot rug pull the liquidity and run away.
Pls note that if it is , it does not mean the rug pull will 100% happen. It is controlled by the token creator. Some high-risk-tolerance Smart Meme Pro traders will still invest in these tokens and earn high profits.
Tip 3 - Is It A Honeypot?
Honeypot means the token contract can block an address from selling the tokens.
Pls note that the honeypot status can be changed. It can be a honeypot today but not tomorrow, and vice versa.
Investing in a token which is a honeypot does not mean your fund will be 100% locked as well. As long as the contract does not block your address, then you are safe.
Some high-risk-tolerance Smart Meme Pro traders will still invest in these tokens and earn high profits.
Tip 4 - Got Continuous Buy Orders?
As you may know, one of the elements to make a new meme token stand out is continuous active buy orders.
Tip 5 - Consider The Buy/Sell Tax
Most of the new meme tokens got buy/sell tax. It will affect your final profit ratio. Check it on honeypot.is and it will show you the buy/sell tax involved.
Practical Case: Hunt CITI New Token And Get 10x
Let’s use a new GEM token CITI as an example to learn why it is worth a shot.
1. Degen Explorer
On Oct 9, Candlestick Degen Explorer detected continuous Smart Meme Pro buy/sell orders of CITI.
2. Have Smart Money Sold?
Smart Meme Pro tend to move in & out very fast. You will see some of them have sold part of the holdings, but some are still holding it.
Take 0x3fd2 for example.
0x3fd2 sold after CITI killed 1 zero. 10x returns.
3. The Buy Orders Were Active
4. Not A Honeypot And Liquidity Is Locked
If you could catch this signal 1 hour earlier in the day, you might give it a shot to 10x.
Got the tips?
Surf your Gems!