Recently I have been finding myself exploring the general crypto space a lot more actively, every day I learn something new, I discover something, I push transactions and at times I just observe and marvel as I watch the future being built on a daily basis in front of my eyes. Today I realized that a lot of the people who venture into crypto (I included) get in for the money, but then I also realized something, some of the people are not willing to learn in-depth ( I am not included). I always like to learn and know things in-depth because I know that when I do I can navigate a lot easier and in the long run tap in from various opportunities when the opportunities present themselves.
I had this crazy idea just now where I can document the new tools I find, how I use them when navigating the crypto space, and how they make life easier for me. And the cool thing about it is that it could also be helpful to someone so it's a win-win.
I'll be sharing this simple app I use when I want to check details about any coin from the moment it is launched. And that is none other than Dexscreener.
Anyone who does degen moves must have come across this app or the site. There's also Birdeye, but I have never made use of it so I'll just focus on this one.
NFA, just using this cause hive doesn't have a liquidity pool on any dex
Dexscreener updates in real-time blockchain information as it happens. I can see every single buy and sell order on every single dex. Once a new coin launches a liquidity pool it is there, when someone sells it shows, buys it shows, you can check the wallets of all the holders and see how much the top holder has so you can spot if it is a red flag or not (Having someone with more than or even up to 5% of the total supply is a red flag). You can see the market cap (Total value of the tokens in circulation, and you can look at the chart (basic stuff). If you want to know the happening on any coin on a dex in real time I suggest you have this in your arsenal.
real time buys and sells
As the average crypto user let me tell you my thought process before buying a token. First thing first I copy the contract address or search the name on dexscreener. I check the market cap, total supply, and circulating supply to know how much inflation can still happen. If the total supply is in circulation and it still has a reasonable market cap it is a good sign. The lower the market cap the more potential for growth (in terms of price). Then I check the holders and make sure the top holder doesn't hold too much of the supply cause if he sells he dumps the price a lot. After that, I look at the activity of the transactions. Are people buying? If it has all this and I already like what they are building then I invest.
Note that this isn't financial advice, it is simply how I do things and also there are a lot more things that come into play before I buy anything.
There are a lot of things you can use dex screener to do, and I think it's a tool that even the average crypto user can make use of so that when they are shilled a token they can use this to do their own research
I hope you found this insightful, I will try to drop more of these and break things down even further if necessary.
Cover image from Dexscreener's mobile app
