Bankless: How to ride the meme wave? These 5 tools are not to be missed

We are back in the bull market surge.

Token prices can rise quickly and transaction volumes can push the network to market caps, which would have been unimaginable when the market was less optimistic.

To trade cryptocurrencies, whether altcoins or meme coins, you have to be ahead of the curve.

Retail investors need to have the right toolkit to find the right tokens at the right time to ensure they don’t miss out.

In this post, we’ll outline 5 indispensable tools for readers to use when hunting for cryptocurrencies.

1.Dexscreener

Popular with both newbies and OGs, Dexscreener has become the go-to platform for altcoin and memecoin hunters.

Dexscreener provides real-time data streams, and users can view data charts every five minutes. It can discover newly released meme coins in 30 blockchains and track their dynamics.

In addition, Dexscreener's iOS and Android apps can enable push notifications based on percentage changes, target prices, or price changes within a set time period, which means you can always keep your finger on the pulse of the market. If you want to ride the wave of Solana and Ethereum's token issuance, or just want to keep your finger on the pulse of DeFi, Dexscreener will be your "lifesaver".

2. Arkham Intelligence

Arkham Intelligence reveals the often opaque nature of blockchain transactions, giving users a peek behind the anonymity curtain.

Arkham has a variety of features that allow users to trade intelligence related to specific wallet addresses, displaying the wallet's current/historical holdings and overall profit and loss (PnL).

Whether investing or trading, these tools can help traders compile a valid and well-informed list of holders to provide a reference for token allocation. Like Dexscreener, Arkham also allows users to enable real-time push notifications to update the movements of specific wallets, including Telegram, email, or even Slack (you choose).

Another powerful feature of Arkham is the ability to identify top holders of tokens, providing insight into whether they are sophisticated on-chain actors (identifiable by use of Ethereum Name Service (ENS) domains or activity as OpenSea users) or if they are just one-off wallets.

In short, whether your goal is to discover the next big thing, prevent fraud, or simply track the movements of influential wallets, Arkham’s AI intelligence platform provides a complete set of tools to help you gain a deeper understanding of blockchain.

3. Zapper

Zapper transforms the blockchain into a social media platform, helping you easily browse popular DeFi applications and tokens, veteran DAOs, and NFT collections.

This monitoring can be filtered by network (i.e. Base, Arbitrum, ETH) or some other qualifiers, including the top holders of a token, recent buy and sell orders, or the most profitable traders. This user-friendly interface allows both newcomers and veterans to track their digital footprint on the network, while also being able to drill down, monitor portfolios, and even swap or bridge assets between EVM chains. In addition, it is a SocialFi platform to create or enter token chats.

Overall, Zapper treats blockchain like a social network (which it arguably is), listing trending tokens, projects, and NFTs in a familiar, easy-to-read format to help you keep up with its breakneck pace.

4. DefiLlama

In a DeFi space that is changing almost every day, DefiLlama stands out as a tool to track its movements, monitoring the total value locked (TVL) of all DeFi, blockchains, and dApps built on them.

DefiLlama has an easy-to-use database that allows users to get a bird's eye view of the overall DeFi situation, evaluate trends such as the flow and trading volume of stablecoins over a specific time period, and zoom in on specific ecosystems and protocols to analyze trends such as the correspondence between token prices and TVL or user growth over a specific time period. In addition, it can also track fundraising announcements for new protocols, categorized by type and supporters, to help you perform pattern matching.

Whether you’re analyzing market capacity, spying on protocol revenue, or tracking the movements of venture capital, DefiLlama ensures you always have the latest and most comprehensive data.

5.Coingla

ss Coinglass provides an indispensable resource for those venturing into the world of cryptocurrency derivatives.

The platform stands out for its comprehensive data on cryptocurrency derivatives, such as futures trading volume, open interest (two pieces of data that are often used to identify fear or greed in the market), and the very useful Bitcoin Rainbow Chart.

The Rainbow Chart can help users navigate the market cycles of Bitcoin's volatility, providing insight into whether the flagship cryptocurrency is currently overbought or underbought, and what actions should be taken accordingly. As shown in the above chart, it also depicts that Bitcoin's volatility will gradually decrease as it matures, giving a sense of where on the chart and at what price Bitcoin may reach the top of this cycle. With Coinglass, you can turn educated guesses into well-thought-out decisions.

Conclusion

In the current bull market, where every second and every satoshi counts, these tools are not just a convenience, they are a necessity.

From Dexscreener’s real-time tracking and Coinglass’s market insights, to Arkham’s sharp analysis, DefiLlama’s data aggregation, and Zapper’s familiar format, each tool adds something unique to your crypto arsenal.

Whether you’re a day trader, a long-term investor, or somewhere in between, utilizing these tools can mean the difference between thriving, not just surviving, in the dynamic world of cryptocurrency.