⏰Bonkbot Alert Channel
The Bonkbot Token Alerts Telegram Channel is a tool that can help you find gems among the sea of meme coins that constantly pop up on Solana. Knowing how to use this channel can help you gather some more information so you make a better decision when it comes to which coin to invest in.
Disclaimer: Even if a coin that is listed in this channel seems relatively safe to invest in, it can still potentially rug pull through other means. Please be aware and trade at your own risk.
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That said, let's take a look on the right side, you'll see different sections:
All these sections, except Announcements, 30M TRENDING, and General, are structured in the same way. Let's see what these sections are for.
Announcements
This section is for news regarding the Bonkbot Token Alerts channel. The dev will post here information or news regarding the channel.
New Pools
This section will list new tokens that have been created and have a liquidity pool of over 500$; the channel will monitor the chain and ping a message in this channel with new pairs meeting the criteria.
Renounced
This section will list tokens whose Mint Authority has been renounced. Mint Authority means that the token creator can create more and more of the token whenever he wants. Sometimes tokens rug due to the token creator minting more tokens and selling them that it uses all the LP and dilutes existing token holders to 0.
Burned
This section will list tokens where the Liquidity Pool has been burned. In the context of meme coins, burning a liquidity pool means that the token creator has made the Liquidity Pool of this token unchangeable. Nobody can remove the liquidity pool anymore. Burning the LP usually is seen as the highest indicator that a coin is safe to invest in since the most common way to rugpull is removing the LP. However, the token can still rug in other ways.
Also please keep in mind that Burning the Liquidity Pool and Locking the Liquidity Pool are different things.
Burned & Renounced
This section shows tokens whose Mint Authority has been renounced and the Liquidity Pool has been burned. While the tokens that are posted in this section have the highest "safe to invest in" level, please keep in mind they can still rug by other means.
30M TRENDING
This section will show the top 10 tokens that have had the biggest positive changes in their value in the past 30 minutes.
Fresh Wallets
This section informs when a Fresh Wallet (a recently generated Solana wallet address) has received funding and used it to buy a token. Inside Traders often use fresh wallets to buy coins that do exceptionally well.
General
This section shows the recent people who have joined the Bonkbot Token Alerts channel.
Now that we know what every section does, let's see how we can use this channel to help us in our trading. Since we know that the sections: New Pools, Renounced, Burned, Renounced & Burned, and Fresh Wallets are structured in the same way, we can pick any of those channels depending on our strategy.
In this case, I picked the Burned & Renounced section. We can see plenty of tokens that might be of interest.
We can see that there are two green checkmarks for Renounced and Burned which informs us that the token has burned the liquidity pool and renounced the mint authority. But we also need to keep in mind another thing - token distribution.
Distributions shows ownership of the token's total supply. It's very important to keep an eye on it because we can assess if the creator or other holders are holding large amounts and could potentially dump on us.
Here we can see that the token creator holds 13% of the entire supply, which is quite a lot. We know that the mint authority has been renounced and that the liquidity pool has been burned, but we see that the creator is holding 13% of the supply.
If we were to buy, he could potentially dump on the holders and drain the liquidity out of the token, effectively rug-pulling despite renouncing mint authority and burning the liquidity pool.
It would be a risky trade to join. He can potentially dump on the holders OR burn his 13% of the token supply which would cause people to buy more and increase the token's value. It is up to you to decide what to do at this point, but generally you are looking for tokens with a well distributed supply (less than 5% per holder, ideally 1-2% for each of the top 10).
We hope this guide has helped you to understand how to use the Bonkbot Tokens Alert Channel. Please be careful when trading and remember not to invest what you can't afford to lose.
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