23/09/2024

Dexscreener: What It Is and How to Use Moonshot

DEX Screener – a platform that connects directly to supported blockchains, tracking the market activity of available tokens. It also monitors mentions of these tokens on social media.

This allows DEX Screener users to quickly identify lesser-known, trending tokens, helping them discover promising opportunities — whether for short-term speculation or long-term investment.

Read more:

Dexscreener: What It Is and How It Works
How to Use Dexscreener
What Is Dexscreener Moonshot
Earning with Dexscreener and Potential Risks
Example of Buying and Selling Trending Tokens
How Much Can You Earn with DEX Screener
FAQ
Dexscreener Alternatives and Approach Limitations

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Disclaimer: This review of the DEX Screener platform is for informational purposes only and does not serve as financial advice or a recommendation to take action. ATAS is not affiliated with DEX Screener and does not promote its services. Use the information in this review at your own discretion. Trading cryptocurrencies and other digital assets carries a high level of risk. ATAS is not liable for any financial losses that may result from using the information provided in this review.

What Is Dexscreener?

DEX (Decentralized Exchange) is a decentralized exchange where users can trade cryptocurrencies directly with each other without intermediaries.

A screener in financial markets is a tool used to search and filter financial assets based on various criteria, such as price, price changes, or trading volume.

DEX Screener is a platform for tracking and analyzing real-time data on lesser-known tokens across various decentralized exchanges (DEX).

By default, the DEX Screener homepage displays the most trending tokens from the past 6 hours. They are sorted by the Dexscreener Trending Score, a metric calculated by the platform based on market activity and social media mentions of specific tokens.

The exact algorithm behind the Trending Score is kept secret, but it is known that the following factors are considered:

trading volumes, liquidity, number of transactions, and unique holders;
user interest in the token within the app and on the project’s official pages;
project security.

Example: At the time of writing this review, the GBEAR token is at the top of the DEX Screener Trending Score list:

The leader of the DEX Screener trending score list

Over 190% in just 8 hours? That is impressive!

A large bearish candle on the right edge of the chart suggests that a major token holder (or a few holders) decided to take profits from an earlier purchase.

Will this lead to a wave of selling? Let’s see what the price looks like by the end of this review — keep reading to find out!

How DEX Screener Works

DEX Screener gathers data directly from the tracked blockchains and open resources like CoinGecko.

This information is then used to rank token lists and create charts. All data is processed automatically in real-time, without any human intervention.

To start using DEX Screener, you need to:

visit the official website;
alternatively, you can install and launch the app from Google Play (screenshot below) or the App Store.

For additional features, you can use Telegram to:

set up a price alert bot: https://t.me/DSPriceAlertsBot;
track trending tokens in the Dexscreener Trending channel: https://t.me/TrendingOnDS;
use other official DEX Screener resources available in the messenger.

The Dexscreener icon features an eagle. This symbol is associated with a broad perspective and attention to detail, aligning with the platform’s mission of monitoring and analyzing data on decentralized exchanges (DEX).

How to Use Dexscreener

You have probably wished you could go back a few years and buy Bitcoin with leverage. This chart from the ATAS platform, which stores tick data on its servers, shows how Bitcoin trading unfolded in early 2020.

How great would it have been to buy Bitcoin upon breaking the resistance level (1) during a surge in positive delta? Now, you can purchase tokens immediately after their launch. DEX Screener is a valuable tool for those looking to find the “next 100x token” and get in ahead of others. However, the value of such assets does not compare to Bitcoin.

Dexscreener is useful for:

Traders: To monitor tokens with high growth potential and analyze market activity.
Developers: To analyze market data and research tokens across various blockchains.
Marketers: To promote a new crypto project and create or sustain demand for its tokens.

How Does DEX Screener Make Money?

Revenue sources include:

Advertising on the platform. For instance, while writing this review, an ad for a crypto casino was spotted, providing insight into the interests of DEX Screener’s target audience.
Dexscreener Moonshot token launch services (more on this below).
Boost package sales, which allow users to increase the Trending Score for their token. To maintain the credibility of the Trending Score, such tokens are marked with a lightning bolt.

Dexscreener Overview

The DEX Screener platform offers the following features:

Filters to search for tokens based on specific criteria

The button to set up filters is located on the right, above the token list.

Here, you can refine your search by:

Parameters such as market cap (min/max), liquidity (min/max), token age, and others;
Blockchain. As seen in the screenshots, most tokens listed on DEX Screener run on the Solana blockchain, which offers a simple process for launching new meme tokens;
DEX. For example, you can filter tokens based on their availability on a specific exchange.

Dexscreener Watchlist

To add a token of interest to your watchlist (users can create multiple watchlists), you need to:

go to the Watchlist section;
find the token using the search field;
click the star icon.

Alternatively, you can click the Watchlist star icon on the panel to the right of the chart (marked as number 1 below).

How to use Alerts and Watchlist on DEX Screener

Dexscreener Alerts

To get a notification when the current price of a token reaches the value you have set, click on the Alert bell icon on the panel to the right of the chart (marked as number 2 above).

Dexscreener Charts

One of the big advantages of DEX Screener is that it enables you to work with the price chart of the token you are interested in.

Advantages of DEX Screener charts

you can create tabs;
each tab can display up to 16 charts (to add a chart, click the plus icon);
you can perform standard technical analysis tasks, like selecting timeframes and adding indicators.

Disadvantages of DEX Screener charts

You cannot add some useful indicators, like those available on the ATAS platform: DOM Levels, Depth of Market, Volume Profile, Delta, and others.

A cluster chart for the cryptocurrency market

For example, the footprint chart above shows how buying pressure (1) breaks through resistance at a psychological level, but then, as the indicators suggest, selling pressure (2) builds up, causing the price to drop.

Do you want to learn more about how to interpret these signals? Check out our article: ATAS Footprint Patterns.

New Pairs

This section of DEX Screener shows newly launched tokens.

As shown in the screenshot above, the token MILLI appeared in the screener just 4 minutes after its launch.

Gainers / Losers

The top gainers and losers screener can be quite surprising.

In the screenshot above, you can see that the FIGHT token, on the Solana blockchain, skyrocketed by two million percent (!) in 24 hours. Hypothetically, that means turning $100 into 2 million dollars.

The tokens that followed FIGHT saw increases of “only” a few hundred thousand percent in a single day.

Moonshot Dexscreener

Moonshot Dexscreener is a special section where you can launch your own token on the Solana blockchain.

The launch process is done in partnership with DEXs like Meteora and Raydium, using pre-audited smart contract templates.

The price to launch is 0.02 SOL.

All you need to do is enter the token ticker, add a description, an icon, and links to your official social media — it is simple enough for even beginners. The whole process only takes a few minutes.

A nuance of Dexscreener Moonshot:

once you launch your token on Moonshot, users can trade it by connecting their wallets directly to Dexscreener.
if your token gains traction and its market cap grows beyond 432 SOL (around $50,000), it will be migrated to either Meteora or Raydium DEX (depending on the settings you chose during the launch).

How to Use Dexscreener to Earn Crypto

When thinking about making money on DEX Screener, it is important to keep a clear perspective:

on the one hand, there is a real chance to achieve 100x returns if you spot and buy a “moonshot” token early, then sell at the right moment.
on the other hand, many tokens are “meme” tokens without intrinsic value, making them high-risk investments.

Here are a few strategies for earning cryptocurrency on DEX Screener.

Buying Trending Tokens

Focus on tokens with the highest Trending Scores.

Pro: You can filter the Trending Score by different time frames.
Con: A high Trending Score does not guarantee profits.

Buying Newly Launched Tokens

Use DEX Screener New Pairs

Pro: You have a chance to get in early on a potentially promising token.
Con: The token’s price might start dropping right after launch.

Using Technical Analysis

For example, you can buy tokens when they break through previous resistance or based on other signals.

Pro: This approach offers more structure for planning trades and finding better entry points.
Con: Technical analysis patterns can be subjective.

Combined Approaches

You can develop your own trading strategy to buy promising tokens by combining:

DEX Screener Trending Score
Technical Analysis
Fundamental Analysis (assessing official resources linked on DEX Screener)
Additional tools like Alerts, Watchlist, and Top Gainers lists.

However, no matter what strategy you choose, always be ready for the possibility that a token soaring by 6,400% in just 12 minutes could suddenly change direction.

A token price chart for the Walking Dog project (ADOG-SOL)

The chart above shows the price of the Walking Dog token (ADOG/SOL).

How to Buy and Sell Tokens via DEX Screener

To do this, you need to connect a supported wallet to DEX Screener, such as Phantom. Make sure your wallet has the cryptocurrency you will use for trading tokens.

How to Buy Tokens on DEX Screener?

Choose the token you want to buy, such as the newly launched Refused To Die (ticker MIRACLE on Moonshot). On the right side of the chart, enter the amount you wish to buy (the default is 0.1 SOL) and click Buy.

The Buy button will change to Processing (1), and your wallet will open, prompting you to confirm the purchase (2) by paying with Solana (SOL).

Once confirmed, the tokens will be credited to your wallet.

Can you set a limit order? No. DEX Screener lacks many essential trading tools, such as different order types (1), exit strategies (2), real-time market depth analysis (3), and other features that are available on ATAS.

Hypothetically, a meme token you discover on DEX Screener could get listed on a well-known cryptocurrency exchange and eventually appear on ATAS. However, considering the quality of these tokens, the chances of that happening are extremely low.

How to sell on DEX Screener?

To sell your tokens, the process is almost the same. Instead of clicking Buy, you select Sell and specify the amount you want to sell (for instance, 100%, which would be 565,000 Miracle tokens in this case).

The Sell button will change to Processing, and you need to confirm the sale in your wallet by clicking Confirm.

After that, the tokens you bought on DEX Screener will be converted back to SOL.

How Much Can You Earn on DEX Screener

In a demo trade of the Miracle token for this review, nearly $3 was made in just a few minutes on DEX Screener.

Meanwhile, Dexscreener top traders have reportedly earned hundreds of dollars from trading the Miracle token (as shown on the top traders tab).

In the Balance column, you can see that many have already sold off their entire positions. These are likely traders using a strategy that focuses on holding newly launched tokens for a short period while they are trending upwards.

FAQ

What is Dexscreener?

Dexscreener is a platform designed for real-time tracking and analysis of trading data on decentralized exchanges (DEX). It focuses primarily on lesser-known tokens, especially meme tokens, providing insights into trends, prices, trading volumes, and other key metrics. The platform mainly covers tokens issued on the Solana blockchain.

How to use Dexscreener?

To use Dexscreener, analyze the available data on all listed tokens, select the one you are interested in, and then connect your cryptocurrency wallet to make a purchase.

Is Dexscreener safe?

Dexscreener itself is safe for data analysis. However, it is important to follow general security guidelines when connecting your wallet.

Can I use Dexscreener API?

Yes. Detailed instructions are available on the official website.

What does x100 mean in crypto?

The term “x100” in cryptocurrency trading means that the value of an asset has increased 100 times compared to its original price. For example, if you bought a cryptocurrency for $1 and its price rose to $100, that’s a 100x increase, which equals a 10,000% profit. You can find many such examples on the Dexscreener platform.

What is Dexscreener Solana?

Solana is a blockchain that makes it very easy to launch your own meme token. Dexscreener is a service where you can track, trade, and launch such tokens.

Alternatives

Dextools.com is a popular Dexscreener alternative. Both tools offer functionality for analyzing and monitoring data from decentralized exchanges (DEX). Their features include:

tracking newly launched tokens;
wallet integration;
chart creation;
transaction tracking.

The main differences are in their interfaces, popularity (Dextools is more widely recognized), focus on blockchains (Dexscreener emphasizes Solana), and unique features offered by DEX Screener, like Moonshot, Trending Score, and others.

There may be other alternatives to Dexscreener, but they all share a common feature – speculative cryptocurrency trading. In this approach, traders invest in assets they may have known nothing about just moments earlier, hoping to profit from sudden price swings. However, this comes with high volatility and significant risk.

If you are aware of these downsides, you might want to consider a more systematic approach to crypto trading. This involves strategic planning, careful analysis, and relying on established patterns. For instance, volume analysis can help identify supply and demand balances, as well as key support and resistance levels. This allows traders to make more informed and calculated decisions.

Make more informed and calculated decisions

Buying lesser-known tokens on Dexscreener is like a gamble, where a purchased meme token can instantly lose its value (see the example in the screenshot below).

If you are interested in a more balanced and rational trading approach using reliable volume indicators, consider downloading ATAS. This professional-level platform enables you to trade cryptocurrency assets for free by connecting to exchanges like Binance, Bybit, and others.

Advantages of ATAS:

Trading with footprint charts.
Various order types and the ability to set up exit strategies.
Access to professional indicators like Delta, Big Trades, Speed of Tape, and more.
Work with Depth of Market (DOM) and DOM Levels.

How to Start Systematic Trading with Cryptocurrencies

You can become a professional trader from scratch by learning to trade cryptocurrencies using the Market Replay simulator. This module on the ATAS platform utilizes historical data to recreate real-time trading conditions. The training closely mimics actual market scenarios without any financial risks, allowing you to practice using professional trading tools that are not available on Dexscreener.

To try the simulator, download the ATAS platform for free, install, and launch it, and then:

Open a chart of a financial instrument.
Click on the Market Replay button in the main ATAS menu.
Activate the Replay mode (the icon should turn green).
Adjust settings like date and data type if needed.
Start the replay and watch for signs of a false support breakout on the chart. Look for confirmations on the footprint or through indicators to make informed decisions about opening a long position.

The Bitcoin chart above shows a bull trap (6) around the $62.5k psychological level — a sign that bears might take control. Signals like this from the footprint are not available on Dexscreener, and this is just one of its many drawbacks.

How to Start Systematic Trading with Cryptocurrencies

Let’s revisit the earlier experiment with the token that topped the DEX Screener Trending list. Its price plummeted by 99.59%, and the luckiest traders managed to make a few thousand dollars. But at whose expense? This situation is a clear example of the “Greater Fool Theory.”

It seems the only way to profit would have been to open short positions, anticipating (though for a very short time) that the token’s price would drop to rock bottom. However, Dexscreener is designed for spot trading, not futures, so shorting is not an option here.

If you are serious about trading cryptocurrencies and want to leverage competitive advantages rather than engage in speculative trading of low-value tokens, download ATAS. It is free.

Once you install the platform, you will automatically get the free START plan, which includes cryptocurrency trading and basic features. You can use this plan for as long as you like before deciding to upgrade to a more advanced plan for additional ATAS tools. You can also activate the Free Trial at any time, giving you 14 days of full access to all the platform’s features. This trial allows you to explore the benefits of higher-tier plans and make a well-informed purchasing decision.

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