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CRYPTO MECHANIC
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$3B marketcap for a newly launched token and token that so many people got free as Airdrop Careful before you chase it i would say. $PENGU
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Eyeing that $230 breakout on $SOL
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With the amount of new coins coming out every day. Do you really think there will be an Altcoins season ?
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Since $1000CAT listed on binance Here is what you should do when a new token launches on exchange 1- Find out if there was an ICO (initial sale) for the coin. If there was any what was the sale price. 2- What will be the total supply of the coin and how much is circulating at the time of launch. 3- What sector of the technology they're focusing on? is it Ai , ecosystem, gaming ,layer 1 or 2 or any other crypto narrative. Cat is a memecoin 4 - Once you get all the info wait and see at what price the coin is launched. Compare the gap between the ICO price and the launch price. 5- What's the marketcap of the coin at the time of launch. If it's too high it's not worth buying right at the launch. it's most likely launched at higher prices and people who got the presale or free airdrops will rush to cash out. 6- Make sure the price is not too high from the ico price and marketcap is less than $500 million. 7. Find out if it's a new coin or already trading on other exchanges. 8. Find out if there was a free airdrop of this token. Once you find out all of these details. Now ask yourself should i chase this coin right after it launched or not? My personal suggestion to you : Don't even buy a coin right after it launched - Watch the price action for a few hours - Let the coin build a base price. -Make your decisions . Keep learning, Stay safe
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Took some off here on my $XRP trade. Still holding a good size position. You all know where i added it. Great move
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