Bitwater

How to find 100x Coins

Shitcoins can make you 100x if you play them right. Here’s how to consistently find & evaluate 100x shitcoins. The faster alpha comes in, the more money you can make.

Twitter

There are a lot of things you can do to curate twitter to maximize alpha:

Curate your following
Use lists & Tweetdeck
Follow the right accounts (chads, bots, tools)

Here is a good guide on maximizing alpha on Twitter.

Discord

Discord is both a shithole & a treasure trove at the same time.

Curate & organize your servers
Create a discord evaluation checklist
Pay special attention to the community

First of all you should of cousre . Discord reveals a lot about the legitimacy of the project & can lead to more opportunities. Learn to navigate through discord.

Here’s a good read on how-to Discord.

Etherscan

Etherscan is god send for finding good shitcoins. Things to look for:

Verified contract address
Max supply
Top holders & what they’re holding
Is ownership renounced

If you see something that grabs your eyes then look at the contract on etherscan, check the following:

contract verified (green tick next to contract)
Liq locked
Source of funds
Ownership renounced
Distribution
Top holders and their other bags
Tax
Dev wallet

Contract verified allows u to go into the contract and read it on etherscan, often socials such as TG, Twitter & website will be in here, if so join them and see who follows or who is already in there and make a judgement call if u like what you see. If TG is muted likely scam. Here you will be able to see things such as max wallet, max trans – which is often important on new launches as you don’t want your trans to fail bcoz u r trying to buy more than the contract allows. You can also see the tax and the wallets they go to here

Below u can see the contract creators wallet, the top box shows contract being renounced, this stops devs changing the contract in the future (not always useful for tax tokens). Locking LP, u can check this on Unicrypt/Team Finance to ensure the % of liq locked & the duration.

Other actions to look out for, adding liq – how much and is this sufficient? Setting max wallet or max trans – ensure you are trying to buy within these parameters. If you have found the contract pre trading u can ape as soon as the enable trading command is processed. From the contract creators wallet go onto transactions and trace back to the first transaction to see where the dev sourced their funds, was it a cex or another wallet? Sometimes this will show in internal transactions as it was tornado cash (often a red flag).

Holders and distribution – if you click into the contract you are looking at you will be able to click holders and see the distribution – you don’t want one wallet holding more than a couple percentage of supply as then u r relying on them to be friendly whale

Sometimes there will be bigger wallets, these could be dead wallets, team wallets or marketing etc, ensure you understand what they are and if they are vested etc – don’t be scared to jump in the TG or discord and ask questions. Any legit project will be able to explain. Once I have done these manual checks you can do some automated checks on tools like:

Honeypot Checker
Token Sniffer

Whale Wallet Watching

Follow the pros & whales for alpha:

Use Etherscan for finding interesting wallets
Use tools like DeBank & Ape Board to look at a breakdown of any wallet.

Read our guide on how to find & track whale wallets here.

Hype & Social Sentiment

Shitcoins live & die by hype. You need to find & measure this hype.

Look at the number of tweets & hashtags on twitter
Check the Discord & Telegram for active members
Use tools like
LunarCrush
to gauge the social sentiment

Read our guide on how to find & track whale wallets here.

Allocation & Risk Management

Playing with shitcoins is literally playing with shit. You need to be careful. With proper risk management you can maximize the chances of you making money. Manage your risk to reward ratio. Set & stick to exits.

Let’s say you decide to exit after a 10% gain and you decide on putting in 5% of your $ into it. In the long run, may such situations will occur. With this risk to reward ratio, you only need to be right 1/3 of the time for you to break even. Even if you lose way more than you win, you will fine. You just need to win >33% to make money. Adjust your exit price based on how much of your portfolio you’re putting in and what your risk level is.

Cautions

LOTS of cautions!

Buying into shitcoins involves a LOT of risk. Allocate a very small % of your portfolio to this
Scams are everywhere, be hyper vigilant when you are investigating the legitmacy
Practice good wallet safety. Have a phantom wallet to interact with these sites
Survivor bias is real. Making money off of shitcoins is hard
You’re probably gonna get rekt a couple of times. Developing the shitcoin intuition takes time

Scams & Security

Most shitcoins are scams. We know this.

Check the contract address, holdings & top holders
Use tools like Honeypot to check if it’s a honey pot trap
Check the discords to get a sense of the team
Use a phantom wallet & practice good wallet safety
Security tools like honeypot & token sniffer may miss out on scams. Take their verdict with a grain of salt.
Don’t trust influencers
DYOR and don’t get dumped on