As we all know, meme coins are just swarming with ruggers and scammers. In this guide, I won’t focus on basic checks like liquidity, whether it is 🔥burned & 🙅renounced, or if ❄️freeze is disabled.
Instead, we will dive into a bit more advanced check, starting with the simplest one:
1. Checking X (Twitter) Account Reuse
Meme coin devs often spam numerous new coins as soon as previous ones fail or have been rugged pulled by them. And making new wallets to avoid detection.
And many are too lazy to register a new X account for every new coin. So they simply remove old tweets and change the X handle. And, voilà, a brand new X account!
But the hidden internal X ID thought stays the same! And MemeLaser bot records that ID as soon as a new coin is released.
Now we can see all the previous handles used simply by searching them in our database!
Let’s try it together with a random “$Xmas Gift” coin. Just copy the token address and paste it into the bot:
Nice! We’ve found X reuse from the first try! (Seriously, there are so many reuses that it is quite easy).
Now, by pressing “X reuse found” button we can see the details:
And if we check those coins on Solscan, we will see he is indeed trying to hide his relations between meme coins:
Now it is the time to investigate those coins and how they performed, but I won’t cover it in this article.
2. Dex banner or ads paid
All of the coins that get traction buy a special banner on DexScreener that looks like this:
It is basically a banner picture and socials. It costs around $290 to add to a meme coin. And anyone can do it, not just the dev.
You can check if the coin has it even without opening their website by pressing “Dex paid?” button:
If you find a coin that lacks it, you can add a monitor, which will periodically check if the banner has been paid and notify you as soon as it happens:
Dex paid doesn’t mean you can trust this coin, or it getting traction.
But it is useful as one of the indicators that something is happening with it and you should monitor it more closely.
3. Top holders analysis
Another report MemeLaser provides is a top-holder quick analysis:
It will analyze the biggest 100 top holders and tell about their trading trends, their wallet activity, and wallets of popular platforms found.
The trading trends are calculated based on the most recent transactions the holder made: purchase or sell. 88% buys it doesn’t mean the token is going up, because as everyone already purchased a coin, now they are waiting to sell.
No Defi activity means the holder didn’t purchase the coin on exchange and probably received it from another wallet. By clicking “Suspicious wallets” button you can see the addresses of such wallets and investigate further.
“Less than 30 days” means the account didn’t have any transactions before that. 90% of activity in 30 days means that the account didn’t do many transactions earlier than a month ago. Those accounts you can investigate further to see if they are legit.
Wallet types are well-known (to us) websites or bots like BullX or Photon where many people create accounts and trade. If you see a spike in one kind of wallet or a complete absence of all, that may suggest you be careful and check holders as they can be fake wallets.
So far that’s it, we have a couple more small features, but they are for you to find out! Try MemeLaser here.
If you have ideas to improve reports — don’t forget to tell me!
