3. If you can analyze on-chain data, here are some more advanced methods.

1. Market capitalization and total market capitalization should be low. Ideally, the total market capitalization of public chains should be below 50 million, and dapp protocols should be below 5 million. A low circulating market capitalization is easy to understand. If the market capitalization is not low, there isn't enough room for growth; the lower, the better. Why must the total market capitalization be low? This is because tokens will be gradually released over the next 1-2 years. If the total market capitalization is not low, it means that the project team doesn't need to pump the price, and just selling horizontally can already lead to wealth. Alternatively, if the price drops tenfold, it still has a high price and profit.

2. The ceiling of the sector should be high. At least the valuation in a bull market should reach over 1 billion USD. For meme coins, refer to Dogecoin; for public chains, refer to ETH, SOL, MATIC; for dapp protocols, refer to UNI, AAVE, LDO, etc.

3. New narratives; avoid participating in overly niche sectors. It's best to solve real problems. New narratives must be about long-term value discovery rather than short-term speculative trading. For example, the current narrative around AI GPU computing power, safer, faster, and more decentralized public chains, and infrastructure that spans metaverse, blockchain games, AR, and other sectors.

4. A hundred-fold dark horse coins are definitely in places that no one is paying attention to because coins that are well-known across the network generally have a high opening (like ICP) or normal valuations (like ARB). Do you think their unit price can rise a hundred times? At the time of launch, the total market capitalization is in the hundreds of billions or even thousands of billions. Don't even mention a hundred-fold increase; even a ten-fold increase would catch up to ETH or BTC.

5. Early hundred-fold coins generally have poor liquidity, usually only on-chain or small exchanges. Therefore, many newcomers, when they see others recommending early coins, do not research the value and keep saying that they don't want to go to small exchanges, it looks too much like a 'meme' coin, and buying is too troublesome, and there's no app to participate. These are all surface phenomena and do not see the essence of value. When I bought Magic in 2021, cross-chain transactions were quite troublesome; later, it increased tenfold in a month. When I bought PPI in February 2023, it also required cross-chain with two wallets, and many exchanges did not support it, but later Gate supported Espace withdrawals. Later, BRC20 tokens also had very high entry barriers; you needed points and OTC, which was troublesome. In short, high entry barriers are a necessary hurdle for newcomers.