This guide is for beginners who want to learn how to use Nansen, a trading platform, to explore the meme coin NORMIE on the Ethereum Layer 2 scaling solution BASE. Remember, meme coins are risky! Their prices can swing wildly, and there’s always a chance they could be scams. This guide is for educational purposes only, not financial advice.
Related: What Are Meme Coins?
For the sake of this guide, let’s take a look at NORMIE, a popular meme coin that has triggered a massive rally.
Base chain’s meme coin NORMIE details:
- Launched on BASE in March 7th.
- Price went WAY UP (over 4000%) since March 9th!
- They have $1.5 million locked away to keep trading fair (liquidity).
- NORMIE’s total value is currently around $104 million.
Related: 88% Chance You’ll Lose Money Trading Solana Meme Coins
Finding Info on NORMIE meme coin with Nansen:
Here’s a step-by-step process to check out NORMIE on Nansen:
- Get to Know NORMIE: Find NORMIE on Nansen. See how much it costs now, how much it’s changed recently, and how much people are trading.
- Who’s Buying and Selling? Nansen has a “Who Bought/Sold” feature. Use it to see if people are buying a lot of NORMIE recently (good sign!) or selling a lot (not necessarily bad). The tool can also show specific addresses that have bought or sold NORMIE. Look for big buys in the last day, like the address 0xf7525a3bddc2b6281ae3a7de9159e72b7e86d359. This address might be someone who believes in NORMIE! See if big sellers from the past week are getting rid of all their NORMIE, or just some (taking profits is normal).
- Checking the Exchanges: Go to the “Exchanges” tab. See if the amount of NORMIE on exchanges is going down. This could mean people are moving NORMIE off exchanges, which might be a sign of demand (people want to hold it!).
- See What the Big Holders Are Doing: Go to the “Balances” tab. See if the people with the most NORMIE have been selling some recently. Again, this could be normal profit-taking. You can also see who’s been buying more NORMIE in the last day or week.
- Spotting the Smart Money: Nansen has a “Tokens Held by Smart Money with # wallets” widget. See if the number of people holding NORMIE and the total amount of NORMIE held by “Smart Money” addresses (think experienced traders) are going up. This could be a good sign! You can also check out specific addresses that hold a lot of NORMIE (over $10,000). Are they buying more or selling?
Related: Analyst shills another meme coin that could 20x after MOG, WIF
Making Sense of it Meme Coin Chaos:
By looking at all this information together, you can start to form an idea of what might happen to NORMIE’s price in the future. Here’s a quick summary of what we found about NORMIE:
- Price went up a lot recently (good!).
- A good amount of money is locked in to keep things fair (good).
- Some people are buying a lot (good!).
- Experienced traders might be interested (good!).
- Some early investors are taking profits (normal).
Important Note:
This is just a starting point! Before you do anything with your money, you should ALWAYS do your own research. This means looking into things like why NORMIE was created, what the people behind it are like, and what other people are saying about it online.
Bonus Meme Coin Tips:
- Nansen has other tools that can help you figure out when to buy and sell NORMIE. These are called “technical analysis” tools.
- Keep up with the latest news about NORMIE to see what’s going on with the project.
- Be super careful with your money! Meme coins are risky, so only invest what you can afford to lose.
- By following this guide and doing your own research, you’ll be better equipped to explore NORMIE and other meme coins on Nansen using the BASE network. But remember, this is for learning purposes only, not financial advice!
More reading material:
The @base memecoin for the $NORMIE is up over 500% in the past week
But how do you research Base memecoins?
Let us show you how using @NormieBase as an example. This is a basic workflow, covering indicators to look out for and how to find interesting addresses
Let's begin… pic.twitter.com/2HiJ43kmje
— Nansen 🧭 (@nansen_ai) March 20, 2024