When a new coin is launched on Binance, you should take the following steps when a new token is launched on the exchange:
1- Find out if the coin had an ICO (Initial Coin Offering). If so, what was the sale price?
2- What is the total supply of the coin, and what is the circulating supply at launch?
3- Which technological field do they focus on? Is it artificial intelligence, ecosystem, gaming, Layer 1 or Layer 2, or other crypto narratives?
4 - After obtaining all the information, wait to see the launch price of the coin. Compare the gap between the ICO price and the launch price.
5- What is the market cap of the coin at launch? If the market cap is too high, it is not worth buying at launch. It is likely to launch at a higher price, and those who participated in the presale or free airdrop will be eager to cash out.
6- Ensure the price is not higher than the ICO price and the market cap is below $500 million.
7. Find out if this is a new coin or if it has already been traded on other exchanges.
8. Find out if there is a free airdrop for this token.
Once you have found all these details, now ask yourself, should I chase this coin immediately after it launches?
My personal advice to you: Do not buy a coin immediately after it launches
- Observe the price changes for a few hours
- Let the coin establish a baseline price.
- Make your decision.
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