“Missing Out on the Hundredfold Craze? An Inventory of Five Essential Cryptocurrency Tools for Capturing Memetic Coins”

With the craze of meme coins sweeping the cryptocurrency space once again in March, the myths of hundredfold and thousandfold returns have captured the attention of the public. In this article, we will introduce five practical cryptocurrency tools, including data monitoring and tracking, to enable traders to quickly discover and ride the rising rocket.

Book of Meme (BOME), a meme coin, surged five times in 24 hours, allowing one address to earn $4.3 million in just two days.

Table of Contents:
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Five essential cryptocurrency tools
Dexscreener
Arkham Intelligence
Zapper
DefiLlama
Coinglass

Is the meme frenzy the final dance in the cryptocurrency market?
From meme coins like $SHIB and $WIF to the wealth explosion of $BOME on SOL, cryptocurrency participants spare no effort in sending funds to meme markets on various chains to seek the last fortune in case of potential pullbacks in mainstream currencies.

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On their journey to survive in the meme coin market, traders must also stay ahead to ensure they find the right tokens at the right time. Bankless has compiled a cheat sheet, highlighting five essential cryptocurrency tools to capture market hotspots.

As a token search tool well-known to both experienced and novice meme coin traders, Dexscreener provides real-time data and charts for up to 30 chains and observes the most up-to-date market trends in five-minute time zones.

Additionally, the tool has launched a mobile app for iOS and Android platforms, allowing traders to receive notifications for specific token value changes. It can be used to track token issuance on chains like Ethereum and Solana and serves as an observer for the activity level of DeFi ecosystems on various chains.

Next, Arkham, a tool that fully utilizes the transparency and traceability of blockchain, is no stranger to data trackers on various chains.

Arkham provides information about token holdings, real-time profits and losses, and fund flows for specific wallet addresses. Users can receive notifications via email, Telegram, or Slack. It can also be used to identify large token holders and provide insights into their identities as participants on the chain.

Zapper transforms the blockchain into a social media platform where users can view popular DeFi applications, tokens, DAOs, and NFT collections, as well as create or join token-based chat rooms, all through its intuitive and user-friendly interface.

This tool can be used to filter monitoring data, including large token holders, recent trade orders, and changes in the number of traders. It also offers diverse functions such as portfolio management and asset exchange across EVM chains.

By turning DeFi data into a simple and understandable interface, DefiLlama has become a popular DeFi data monitoring tool.

DefiLlama provides a comprehensive database for tracking DeFi applications and Total Value Locked (TVL) across all chains, allowing users to understand the overall picture of DeFi during specific time periods. It also analyzes and identifies market trends through stablecoin flows, user growth in specific ecosystems, and fundraising announcements for new protocols.

Coinglass, another well-known data monitoring tool, is certainly present on the mobile devices of most cryptocurrency traders.

Unlike the above tools, Coinglass provides comprehensive data on cryptocurrency derivatives, including trading volume and open interest of various contracts on exchanges, as well as long/short ratios and liquidation amounts. What sets this tool apart is its additional data, such as the Bitcoin Rainbow Chart, exchange borrowing rates, and liquidity heatmaps, which help users better understand market cycles and conditions for making investment decisions.

However, huge returns come with high risks, and the myths of sudden wealth and sudden losses occur simultaneously. According to Dune data, the meme coin craze triggered by $DOGE and $SHIB in the past was observed after Bitcoin reached a new all-time high, followed by a subsequent drop of around 30% to 40% in Bitcoin’s price.

In the $PEPE craze last year, although there was no significant decline, Bitcoin still experienced a prolonged consolidation period for several months. Now, with Bitcoin breaking through its historical high again and a slight frenzy of meme coins, whether this is a precursor to a market downturn is still unknown. However, investors must remain vigilant for potential drastic fluctuations in the future.

(Author’s note: This article is not investment advice)

Arkham Intelligence
Coinglass
DefiLlama
Dexscreener
Memecoin
Zapper

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