Missed the hundredfold craze? Five essential cryptographic tools for catching meme coins

With the meme coin frenzy sweeping the cryptocurrency space once again in March, the myths of hundredfold and thousandfold gains have caught the public eye once more. Below are 5 practical crypto tools introduced, including data monitoring and tracking, allowing traders to quickly identify and catch the rocket ride of price surges.

Meme coin Book of Meme (BOME) surged fivefold in 24 hours, with one address earning $4.3 million in two days.

Five Essential Cryptocurrency Tools You Should Have

From meme coins like $SHIB and $WIF to the boom in $BOME on SOL, cryptocurrency participants spare no effort in sending funds to meme markets on various chains, aiming to secure their final fortunes amidst potential pullbacks in mainstream currencies.

320 World Frog Day Approaches, Meme Coins PEPE and WIF Hit New Highs

To survive in the meme coin market, traders must stay ahead to ensure they find the right tokens at the right time.

Bankless has compiled a handy guide listing the 5 essential cryptocurrency tools to catch market trends.

Dexscreener

As a well-known token search tool for meme coin traders, Dexscreener provides real-time data and charts for tokens across up to 30 chains, observing market trends in the most up-to-date 5-minute intervals.

Additionally, the tool has launched a mobile app for iOS and Android, allowing traders to receive notifications on value changes for specific tokens.

It can be used to track token issuance on chains like Ethereum and Solana and observe the activity levels in various chain DeFi ecosystems.

Arkham Intelligence

Next is Arkham, a tool that maximizes the transparency and traceability of blockchain data, a familiar tool for data trackers across chains.

Arkham provides information on token holdings in specific wallet addresses, real-time profit and loss data, and fund flow, sending notifications via email, Telegram, or Slack.

It can also be used to identify large token holders and offer insights into the identities of participants on the chain.

Zapper

Zapper transforms blockchain into a social media platform, allowing users to view popular DeFi applications, tokens, DAOs, NFT series, and even create or join token-based chat rooms through its intuitive interface.

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Reportedly, the tool can filter and monitor data, including large token holders, recent trade orders, changes in trader numbers, and offers diverse functions like portfolio management and asset exchange across EVM chains.

DefiLlama

By translating DeFi data into a user-friendly interface, DefiLlama has successfully become a popular DeFi data monitoring tool.

DefiLlama offers a large database for tracking DeFi applications and TVL across all blockchains, providing users with an overview of DeFi at specific time intervals.

It also allows users to analyze and identify market trends by examining stablecoin flows, user growth in specific ecosystems, and fundraising announcements for new protocols.

Coinglass

Coinglass, a familiar data monitoring tool, is likely present on most cryptocurrency traders' mobile devices.

Unlike the tools mentioned above, Coinglass provides comprehensive data on crypto derivatives, including trading volumes and positions for various contracts across exchanges, as well as metrics like long-to-short ratios and liquidation amounts.

Notably, the tool also offers additional data such as the Bitcoin Rainbow Chart, Exchange Loan Rates, and Liquidity Heatmap to help users better understand market cycles and conditions for making investment decisions.

Meme Craze = Cryptocurrency Market's Last Dance?

However, massive returns come with high risks, as tales of sudden wealth and losses unfold simultaneously.

According to data from Dune, the meme coin crazes triggered by $DOGE and $SHIB after Bitcoin's historical highs in the past led to subsequent 30% to 40% drops in Bitcoin's price.

During last year's $PEPE craze, while there wasn't a significant drop, Bitcoin experienced a prolonged consolidation period for several months.

Now that Bitcoin has once again hit new highs and meme coin frenzy is emerging, whether this signals an impending market downturn remains unknown, but investors should remain vigilant for potential significant fluctuations in the future.

10X Research: Bitcoin to Rise After Falling to 63K, Altcoins and Meme Coins Likely Peaked in the Short Term

This article is not investment advice