where an individual invested $100 in Dogecoin on April 2, 2019, following Elon Musk's initial mention of the cryptocurrency. Fast forward to the peak of Dogecoin's value on July 17, 2020, at $0.003084, and that $100 investment would have resulted in ownership of 32,425 DOGE, currently valued at $2,730.19.
Your approach to handling positions can make or break you. âïž
Don't overleverageâstick to 5x or lower if you must use it. đ During bullish markets, many traders aim for quick gains with high leverage. đ But beware, a small dip can liquidate a 10x long position. đ It's common for coins to dip 10% and bounce back quickly, as we're seeing now. đ„ Most coins have already recovered from yesterday's dip, with some surpassing previous highs like $FET and $RNDR.
To avoid these sudden drops: - Limit leverage to 5x or less. - Practice discipline and set stop-loss orders when trading futures. đ - Don't let your position get liquidatedâprotect your account balance and mental well-being. đ°đ§
đMOST IMPORTANT đ Must Know BEFORE BUYING WIF READ: 1. Don't panic: Avoid impulse buying out of fear of missing out. Stay calm and patient. 2. Wait for the right time: Cryptocurrencies often dip in price. Be patient and buy when prices are lower. 3. If you rush into buying, which isn't advisable, sell once you've made some profit, no matter how small. 4. Don't chase surging prices: Opportunities to invest will arise again; don't stress about missing out. 5. Invest wisely: Only use money you can afford to lose. This ensures your financial safety in volatile markets. Keep these simple tips in mind to make informed decisions and minimize risks. đĄđ #TrendingTopic #BTC #Write2EarnâŹ
đ How Many Years Will It Take Shiba Inu To Reach $1? đ đ„ The Shibarium layer-2 network will start burning SHIB tokens in January 2024, the Shiba Inu team stated on Monday. For a more thorough understanding, go this link to find out more about how many SHIB tokens Shibarium will burn annually. đ„ As per the most recent blog post, SHIB tokens will be burned with 70% of transaction fees on Shibarium. The remaining 30% of the money will go towards network maintenance, which keeps it operating smoothly and effectively. đŒ Fees will be collected by Shibarium in the governance The network uses the bone token, which is utilised as gas to carry out transactions. đ Following that, bone tokens will automatically change to SHIB. Following conversion, SHIB tokens will be burned by Shibarium and taken out of circulation forever. â But now that it's official that Shibarium will burn SHIB tokens, is there any chance Shiba Inu will hit $1? This article will discuss how long it could take a Shiba Inu to reach the $1 threshold due to Shibarium burns. â How Long Will It Take Shiba Inu To Reach $1? đ đĄ Even if everything goes according to plan and Shibarium burns 3 trillion tokens year, SHIB will never hit $1 within our lifetimes. Here, the dynamics are different as there would still be an abundance of supply and a scarcity of demand. đ As a point of reference, Shiba Inu has 589 trillion tokens in use and is hardly just 1.3M. đ In conclusion, it would take 98 years for Shiba Inu to achieve $1, even if Shibarium burns 3 trillion SHIB tokens annually. It's just not feasible during our lifetimes. But Shiba Inu won't have any chance of reaching $1 before our lifetimes unless Shibarium is able to burn over 100 trillion tokens annually. $SHIB đ$SOL #TrendingTopic #sol #BTC #SHIB/đšđŠđđ§ #Write2EarnâŹ