Dex Screener: How to Identify next 100X Coin like $Pepe
$PEPE made headlines recently after giving more than 1000X in less than 5 days, and is the best memecoin launched in 2023. Everyone is now looking for an alternative to $PEPE and for them, this tool is the best way to find the next 100x coin, all by yourself.
After the success of $PEPE, $WOJAK and $COPE, many crypto users are engaged in the race to find the next 100x coin. In this blind obsession, people end up financing random investments and buying arbitrary meme coins. Trying to find the next 100x coin through such investments without knowing the basics and the in-depth process behind it is one of the worst financial decisions you can make.
Just going about hearsay can lead you to believe in false assumptions and as a result, bare huge losses. Hence to relieve you of the pain of making misinformed decisions, in this article, we will take you through the entire mechanism using which you can find the next 100x coin.
Things to remember Before Looking for the next 100x Coin
Before we begin, there are a few things you must keep in mind. First and foremost is that investing in shitcoins or meme coins can either bring you exponential profits or even take your money to a complete zero. There is a huge risk associated with this kind of investment and you must be aware of it.
The second thing to remember in such monetary ventures is that you must fund only the amount that you are willing to lose. The risk is extremely high and hence gambling away all your money into it can result in massive losses.
The last and final point to retain is that always make you independent decisions and don’t fall for financial advice from random sources. Your research and study must be thorough enough to help you make an autonomous decision and not rely on what someone else says. Now let’s see how to use Dexscreener to find the next 100x token.
How to use Dexscreener to find the next 100x token
Step 1: DexScreener Overview
The primary step to finding a 100x coin is by going to the platform DexScreener and checking the entire database. Recently many shitcoins have performed well on Arbitrum and Optimism. Hence you can click on these respective databases and view the coins. You can even go to the Gainers and Losers section to access a lot more vital data.
Step 2: Be cautious of false listings
One thing that you need to know is that these databases can also have many fake listings. Such fake coins are usually used as a vehicle to propagate pump-and-dump schemes and make money off of users. Due to an extensive lack of research and impulsive decisions, people end up investing in such coins as well and hence their value pumps up. You must have a keen eye on this matter and put your research into use to stay away from false listings.
Step 3: Filter your search for coins
When you plan on buying a meme coin or a shitcoin, the liquidity of the particular asset is very important. If the liquidity is high, the chances of it being a profitable investment increase. The liquidity should be at least 100K. If the liquidity is low, the likelihood of it being a pump-and-dump scheme is more. We also look at the FDV of the coin. You must favour a token with a lower FDV, preferably under 2 Million. We can also use the 24-hour volume as a filter. You must look at a coin whose 24-hour volume is a minimum of 10K. Anything lower than that is a futile investment. While setting the filters for searching the coins on an exchange using DexScreener, you can use the following values as minimum and maximum levels for each aspect.
|S. No.||Aspect||Maximum (in dollars)||Minimum (in dollars)|
|1||Liquidity||2 million||50 thousand|
|2||FDV||2 million||100 thousand|
|3||24 H Volume||2 million||10 thousand|
Step 4: Check charts
When you click on a coin, you can view its charts as well. These charts help you gain a more in-depth knowledge of whether the coin is in an uptrend or is it going through a downward trend. Alongside the chart, you can also take a look at the nitty-gritty details of the coin.
Also Read: Best Crypto On Chain Analysis Tools to Use in 2023
Step 5: Asses online sentiments
Crypto is a very speculative market. The opinions and assumptions on a social media platform like Twitter can give you more insight into the pros and cons of purchasing a particular coin. Crypto Twitter is flooded with conversations around many tokens and investment opportunities. You must always take a look at these discussions to better gauge the profitability of a purchase.