Main Takeaways
- This article covers MevX Trending Pools.
- An effective strategy to make use of MevX Trending Pools is also discussed.
Dive In MevX Trending Pools
Introduction
In 2024, meme coins have taken the world by storm. Multiple young investors are turning pennies into millions by investing in coins themed around dogs, cats, frogs, or literally anything you can think of.
As more and more money flows into meme coins daily, you are skipping a great opportunity for wealthiness if you don’t jump in the wave now. At this point, whether you think meme coins are stupid or not, they are thriving in 2024. In this article, we will provide you with a strategy to make use of MevX Trending Pools.
What are MevX Trending Pools?
When picking meme coins, it is quite impossible to predict which one has the potential to thrive as they often lack substantial background. If you don’t have enough experience in the field, the best you can do is guess.
MevX Trending Pools are designed to help with this uncertainty by highlighting meme coins that are gaining traction and popularity. This feature tracks pools with high trading volumes and active trading activity. You can jump in these coins to ride the wave of momentum and potentially make a profit. By focusing on these trending pools, you can reduce losses and improve your chance for profits. We have an article discussing the Trending Pools if you want to know more about this feature.
The Trending Pools section on MevX
Strategy to Trade with MevX Trending Pools
While MevX provides you with all the trending pools, you still need to stay vigilant and approach them with a cautious strategy. We will outline an effective approach as an example to help you make use of MevX Trending Pools while minimizing risk.
How to Pick a Coin
Low Market Cap: Not all the coins in the Trending Pools are worth investing in. Remember, these coins are all trending coins, meaning they have gained some value. Some holders might look to exit their positions to secure profits the moment you enter, resulting in losses. To not get dumped on, we recommend you pick meme coins that have a lower market cap but are still gaining traction. These coins still have room for growth.
Liquidity: Liquidity is also an important criterion. Coins with liquidity of 50%–60% indicate a balanced market, and a great amount of the coins are still in the pool. If the liquidity of a coin is lower than 50%, that coin is about to get dumped.
Top 10 Holders: The top 10 holders of a trending coin should hold less than 25% of the total supply. As the entry of meme coins is quite low, traders can easily buy in bulk and dump when the price increases. This high concentration makes the coin price easily manipulated.
Mint Authority: Mint authority should be disabled. This means developers can not create more tokens and dilute the pool.
Freeze Authority: This should be off as well. If freeze authority is still enabled, developers can prevent you from selling the coin.
LP Burned: Never touch a meme coin that has less than 100% LP burned. This means the developers can withdraw all the liquidity.
Importance of Speed in Meme Coin Trading
Trending meme coins have highly active trading activity. Their prices can fluctuate significantly within seconds. This volatility requires all the trades to be executed as fast as possible to reduce slippage. For instance, you want to buy a coin at $1, but due to delay, the match is $10. You just turn a 1000% profit into a potential 90% loss.
MevX, with its private RPC, ensures that your transactions are executed at the fastest speed on the market. This prevents the scenarios we just mentioned from happening. Remember, appropriate timing is the difference between profits and losses.
Optimize the Workflow with MevX
MevX provides numerous configurations to increase your trading speed and minimize risk. We recommend you adjust these settings before trading to prevent unwanted missed opportunities. You can check out our article on MevX settings for more information. However, we want to stress some specific settings for trading with MevX Trending Pools.
Slippage: As we mentioned, trending meme coins have significant fluctuations. We recommend you set a slippage of 20% to make sure your transactions are through in this volatile market.
Anti-MEV: We recommend turning this on to prevent bots from blocking your orders.
Turbo Auto Tip Jito: We suggest turned on to either 95% or 99% to ensure your transaction is processed before others.
Don’t Go All In
Even if you think a coin is surely going to reach the moon, don’t go all in. This is the fastest way to reach bankruptcy. Instead, just use 10% of your available funds and use the rest for DCA (dollar-cost averaging). This helps you reduce risk by buying at different price levels rather than all at once. You will always have funds to invest if prices drop. And in the worst cases, you will only lose a portion of your funds.
Don’t Wait For The Perfect Moment
We understand that everyone wants to get substantial gains when participating in the meme coin market. However, achieving sustainable wealth should be your priority. You don’t want to get 100x and then lose everything just a second later. Always take profit when you can, because taking profit is never wrong.
One effective approach is the gradual selling strategy. You should sell a portion of your assets, 25%, for example, when the price rises. Continue selling a portion of your assets along the way and immediately dump everything when the price goes downward. Never wait for the perfect moment, as it might never come.
Conclusion
This article has provided information about MevX Trending Pools and an example strategy to make use of that section. We want to disclaim that this strategy is effective in our cases and does not guarantee success in all situations. It is important to adapt strategies to individual circumstances and always be mindful of the risks involved in trading or investing in pools.