how to make $500 a day trading memecoins

how to make $500 a day trading memecoins

want to learn how to trade memecoins and make money? i’ll show you step-by-step how to do it.

but first, know this: if you don’t follow the steps, you could lose money.

step 1: download phantom wallet

• go to the app store and download phantom wallet.

• buy solana (SOL) on the app.

• when you’re ready to buy memecoins, you’ll use this app.

step 2: use dexscreener

• open dexscreener.com.

• this is the easiest tool to find memecoins.

we’ll focus on solana (SOL) memecoins.

set these filters:

• pair age: 2 hours max

• market cap: $1 million – $50 million

• volume: at least $40,000

now you’ll see a small list of coins.

step 3: check the charts

look at the coin charts. here’s what to watch for:

• if the chart suddenly jumps to $6 million in a second, it’s likely a scam.

• a good chart has natural ups and downs, showing people buying and selling over time

step 4: check for scams

copy the coin’s contract address and paste it into a free telegram bot called solscanner. or use the website ‘rugcheck.xyz’

example:

• if the bot shows a big holder or no coins are burned, this is a red flag.

• skip this coin and find another.

step 5: look for healthy signs

for a good coin, check these things:

1. does the chart look natural?

2. did the coin pay for a banner ad on dexscreener? (use checkdex.xyz to confirm.)

3. is the community active on twitter or reddit?

if the chart looks good and people are talking about it, this could be a good coin to buy.

bonus tip: follow the hype

• check tiktok. memecoins based on viral memes often blow up fast.

• follow crypto influencers on twitter or reddit to spot trends early.

step 6: check liquidity

always check the coin’s liquidity on dexscreener.

• liquidity means how easy it is to buy or sell the coin.

• low liquidity = hard to sell and risky.

• make sure there’s enough volume for safe trading.

  step 7: research the team

  • check the team’s website or social media.

  • if there’s no info, it’s a red flag.

important tips

• watch for social media buzz: if a coin is trending on twitter or tiktok, it might be a good time to buy.

• don’t chase losses: if you lose money, don’t take big risks to make it back. stick to your strategy.