How to Spot Memecoins

How can you stay updated with the latest news on memecoins?

When considering sources of information, the first to know is usually the development teams (and closely associated communities). Once the token goes live, various platforms that extract data from the blockchain and alpha groups will gradually catch on. Following that, broader news aggregation platforms and KOLs outside the project's core circle will be informed.

With this approach in mind, as ordinary users in the crypto market, we should proactively expand our sources of information. Below is a list of some sources, along with their unique features, pros, and cons. You can also click on the links provided to explore them firsthand and find the most suitable tools for your needs.

Telegram Bots

🔗New Pairs - DEX Screener

This is a Telegram bot introduced by the on-chain data platform, DEX Screener. It automatically captures and pushes new trading pairs, providing details like the trading pair name, the current exchanges they're listed on, addresses, real-time prices, etc. It also offers convenient links for contract scan。

Thanks to DEX Screener's extensive network coverage, this bot provides comprehensive information. However, overly detailed notifications might lead to filtering challenges. For instance, when the same token's various trading pairs repeatedly appear in notifications, users might miss other crucial updates.

🔗iToken-Ethereum

This is a Telegram group dedicated to capturing new coin types on the Ethereum network. It fetches and shares news about new coins in real-time throughout the day, and also provides basic risk warnings after automatic scans.

For example, for the token shown in the image, iToken provides details such as the address, contract scan results, total supply, and so on. There's also a risk detected from the automatic code review, indicating that the transaction fees are too high (there are detailed explanation links for each risk warning within the group). At the bottom of the information box, there's a direct link to KibaSwap for token trading.

This bot fetches new coin listings from CMC and CG. Hence, in terms of speed, it might be a bit slower than the previously mentioned DEX Screener Bot. Additionally, since this bot focuses on the Ethereum network, its network coverage might be somewhat limited. However, for the average user, receiving thousands of updates in a day is already more than sufficient.

🔗Unibot New Token Scanner

This is a new coin-tracking bot introduced by Unibot. Apart from providing basic token information (like symbol, address, developer's wallet, etc.) and the status of the contract (as shown in the “Status" section of the image), its standout feature is its compatibility with other Unibot trading tools. For instance, by clicking on the “Buy" at the end of the message, users can trade directly through Unibot, or click options below the information box to jump to Unibot's Method Sniper. The Method Sniper allows you to automatically purchase a token as soon as it's launched and has liquidity provided on DEX. However, before making any hasty purchases, we'll delve deeper into making better investment decisions in the next chapter.

Unibot has been getting a lot of attention in the crypto market lately, and if you want to explore its features further, or learn about other Telegram trading bots, check out the article: Top Telegram Bots for Cryptocurrency

Information Websites

🔗ListingSpy

This is a website dedicated to real-time capturing and organizing data on newly listed coins across various exchanges. The site covers a significant number of both decentralized and centralized exchanges, serving as a convenient and quick platform for new coin inquiries. However, it falls slightly short in terms of data filtering.

Take the Uniswap V2 new coin listing page as an example. If you choose to deselect “Suspected Scam Removed," the majority of the tokens displayed have zero liquidity, making them largely uninformative. On the other hand, if you opt to enable "Suspected Scam Removed", the tokens displayed are mostly those listed several hours prior. This not only diminishes the timeliness of the information but also reduces its relevance as there's no data on price or liquidity.

🔗TokenInsight Newly Listed

The strength of this information channel lies in its user-friendly features. Not only can you directly filter out non-memecoin projects by selecting the "Meme" label in the "Tags" dropdown list, but you can also easily view real-time prices, project overviews, and launch times at a glance.

You can also sort the newly listed memecoin projects by their 24-hour trading volume (or filter according to specific criteria), allowing you to consider whether to invest based on the size of the project's trading activity.

Twitter (X) Accounts

Generally speaking, Twitter accounts are a little slower in updating information about memecoins than Telegram bots and information platforms. While in the meantime, some of the other information provided by this account is just as informative to us as the timely information about tokens going live.

@Memecoin_daily

The ID succinctly and clearly indicates the purpose of this account: to post memecoin updates daily. Within this account, you can find information about newly listed memecoins. Additionally, the account often publishes summary lists of various memecoin tracks and initiates community polls and discussions on topics like "which memecoins do you have confidence in?"