Disclaimer: trading Solana memes comes with risk of losing 100% of your capital.
Which is to say, if you're not willing to take that risk, this post is not for you and you should never buy any Solana DeFi projects I call.
That been said, you also need to understand that the solana memes narrative has changed, we are no longer in the new era of Solana defi trend where you can buy a project with as low as $10 and go to bed while coming back days, weeks or months after meeting 1000X profit.
Whales has changed that narrative, if you're investing, invest what you're willing to lose.
Personally I recommend only invest 0.2 - 1 Solana on each project.
After investing, don't wait for 100X to 1000X
When you're in 50% - 100% profit, kindly sell off 50% of your investment or withdraw your capital leaving the profit to run.
The remaining part of your holding you left to run shouldn't be based on greed. Hence it does 2X t 5X at maximum, sell off and wait for another call. DON'T BE GREEDY.
Lets go into how to identify Solana memes that's worthy of investment for quick flip.
(1) I buy fresh deployed projects
(2) I buy supposedly dead project for reversal
But both has to meet certain criteria.
You need Dexscreener.com to find projects with volume.
I have configured this particular Dexcreener front page to only show projects with volume first.
Click on the link below to use it on my configuration.
t.co/a0nca3Idou
After the use of Dexscreener.com to find the project the next tool you need is SOL contract address scanner to check the validity of the project and if it will rug.
How to use Sol scanner
The scanner is a telegram bot, all you need to do is to click on the below link, it takes you to the bot, each time you want to scan a project, copy the contract address and paste on the write field of the SOL scanner bot, it will pop up information about the project like:
(1) Mint Authority - which Should be disabled. When disabled, it means the deployer can't have access to mint more supply of the token.
(2) LP (Liquidity pool) status: which Should show LP Burnt🔥 which is to say, the deployer burnt the liquidity and locked which makes it impossible to remove liquidity.
Other information about the project you will see are:
---Age
---Market capitalization ---Available liquidity
---Volume traded in hour
----Price increase in 5 minutes, hour and 24 hours.
But all of these aren't necessary your concern because Dexscreener gives you these information too.
The next major concern should be holders.
If the top 10 holders are holding more than 30% of the supply, it's a red flag.
The average good holding for top 10 holders is between 5% to 20%
And it must be distributed among the top ten holders. Not that a single address in the top ten holders is holding up to 20% of the token - it's a red flag for potential dump.
Now that I have taught you how to use SOL scanner bot to check the possibility of a project rugging.
There is one more tools you need to compliment Sol scanner bot.
And that's Solana rug checker
rugcheck.xyz
The Solana rug checker compliment the Solana scanner bot in that it shows more details that the scanner doesn't show.
How to use Solana rug checker
Simply click on the website, whenever you want to check a project, on the home page, you will see a token address field, copy the token contract address you want to run check on and paste it and click on the check button.
After running the check, if the token is good, it will say GOOD.
But remember, sometimes, it might say token good and still point out somethings that aren't right.
---Like low liquidity
---Less number of liquidity providers
---High concentration of top holders
When I see this three remarks after saying GOOD I don't buy.
The only remark I ignore most times and buy is when it says the "Mutable metadata".
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