Recently studied the GMGN on-chain tool and compiled some practical tips for catching early memecoin opportunities:

Scanning the chain and scanning pushes are fundamental skills. Keep an eye on newly added contracts on the chain, and respond immediately to coins gaining Twitter buzz. Many people get stuck on detection speed; by the time you see others sharing gains, the leading coins have already run.

After a hot topic emerges, remember to search for tokens with the same name. When a concept becomes popular, many clones with the same name will appear across different chains, some even taking off before the original.

Don't blindly follow KOLs; find a few with high win rates for long-term observation. Projects they have pre-laid out indicate that there is at least some capital attention.

Don't panic if you miss the first dragon; opportunities in the second or third dragons are often more stable. When market sentiment rises, sector rotation becomes normal, and later projects tend to have a more reasonable risk-reward ratio.

The most effective is tracking smart wallets. Watch what high win rate addresses are buying; their on-chain actions are basically a weather vane. GMGN's wallet tracking feature can save you a lot of time on filtering.