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MARKET ORDER
SHORT SELL📉📉📉
SUIUSDT
ENTRY: MARKET PRICE (CMP)
TP✅: 1.6635
❌SL: 2.1877
Apply risk management.
Use only 10% of your Available balance
Traders might enter projects with low market caps expecting that retail investors will be drawn in when they see the price moving, driving demand and allowing early investors to exit profitably.
6. Tools for Tracking Market Cap in Degen Trading:
• CoinGecko and CoinMarketCap: These platforms are the standard for tracking market cap across thousands of tokens. They offer filters to find newly launched tokens with low market caps, which is often where degens look for opportunities.
• Bubble Maps: Tools like Bubble Maps help traders visualize the distribution of tokens across wallet addresses, which can reveal how concentrated a token’s ownership is. This can be especially useful in the degen world where a low market cap might be held primarily by a few addresses, increasing the risk of manipulation.
• Nansen: For more sophisticated traders, Nansen provides insights into whale movements and market cap changes by tracking on-chain data. This helps traders see if large holders are accumulating or dumping a low cap token, providing clues about potential price action.
Key Takeaways for Degen Traders Using Market Cap:
• Small-cap tokens have higher potential for rapid price appreciation, but they come with increased risk of volatility and manipulation.
• Market cap should be considered alongside other metrics like liquidity, FDV, and TVL to get a fuller picture of a project’s health and potential.
• Tools and community insights play a crucial role in tracking market cap movements and spotting opportunities before they become mainstream.
By understanding how market cap functions in the degen trading space, traders can better navigate the risks and rewards associated with high-risk crypto investments. It’s a game of finding undervalued opportunities while being aware of the potential pitfalls that come with trading in volatile, speculative markets.
• Participate in Airdrops: Many early-stage projects offer airdrops to early users or liquidity providers. Airdrops can provide significant returns if the project gains traction.
By leveraging these tools and strategies, degen traders can increase their chances of identifying promising opportunities in the fast-paced world of DeFi. However, due to the high-risk nature of degen trading, it’s crucial to be prepared for potential losses and to only invest what you can afford to lose.
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LIMIT ORDER
SHORT SELL📉📉
IOUSDT
ENTRY: 1.785
TP: 1.633
SL: 1.830(2.52%)
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LIMIT ORDER
SHORT SELL📉📉
WIFUSDT
ENTRY: 2.4916
TP: 2.2084
SL: 2.5955(4.17%)
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LONG BUY📈📈
DOGEUSDT
ENTRY: 0.14461
TP: 0.15506
SL: 0.14290(1.18%)
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TONUSDT
ENTRY: 5.0994
TP✅: 5.8000
❌SL: 4.965 (2.65%)
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LONG BUY 📈📈📈
CATIUSDT
ENTRY: 0.3747
TP✅: 0.4287
❌SL: 0.3667(2.14%)
In the context of degen trading, understanding market cap is crucial for assessing the potential of high-risk, speculative tokens. Here’s how market cap specifically applies in degen trading:
1. Market Cap as an Indicator of Growth Potential:
• Small-Cap Advantage: Degen traders often look for projects with a low market cap because these tokens are perceived as having more room to grow. A project with a market cap of a few million dollars can potentially double or triple in value more quickly than a project already valued in the billions. This approach is about finding hidden gems before they become widely known.
• 100x Potential: In degen trading circles, the term “100x” or “moonshot” is frequently used to describe tokens that have the potential to multiply their market cap significantly. A token with a market cap of $1 million is more likely to achieve a 100x growth (reaching $100 million) than a token with a $1 billion market cap. Traders target these projects for their explosive potential, despite the high risk.
2. Using Market Cap for Risk Assessment:
• Liquidity and Market Depth: Lower market cap tokens often come with lower liquidity, which means that even small buy or sell orders can cause significant price swings. Degen traders must consider this when trading to avoid large slippage (the difference between the expected price and the actual execution price of a trade).
• Understanding Fully Diluted Valuation (FDV): In degen trading, it’s important to look at the fully diluted market cap (FDV), which accounts for all tokens that will eventually be in circulation. A low current market cap but high FDV might indicate that a significant amount of tokens will be released in the future, potentially diluting the value of current holdings. This is a red flag for degens who are sensitive to sudden changes in token supply.
3. Finding Undervalued Tokens Using Market Cap:
• Comparative Analysis: Degen traders often compare the market cap of new tokens with those of established projects to find undervalued opportunities. For example, if a new decentralized exchange (DEX) has similar features or improvements compared to a larger competitor but a much smaller market cap, a degen trader might consider this token undervalued with potential for growth.
• Market Cap to Total Value Locked (TVL) Ratio: This ratio is commonly used in DeFi to assess whether a protocol’s market cap is justified by its TVL (the total assets deposited in the protocol). A low market cap relative to its TVL might indicate an undervalued token. For example, if a DeFi project has a market cap of $10 million but a TVL of $100 million, it might be seen as undervalued, attracting degen traders looking for a bargain.
4. Market Cap Manipulation Risks:
• Low Cap Manipulation: In the degen world, pump-and-dump schemes are common with low market cap tokens. Because they have small liquidity pools, a small group of traders (or even a single entity) can buy up tokens to drive up the price, attracting others to join in, and then selling at the peak. Being aware of this risk helps degens avoid getting trapped in manipulated markets.
• Watch for Sudden Market Cap Changes: Degen traders keep an eye out for tokens with sudden increases in market cap, which can be a sign of growing interest or the start of a new hype cycle. Tools like DEXTools or CryptoRank provide real-time market cap updates that help traders spot these movements.
5. Market Cap vs. Price Perception:
• Misleading Low Prices: A common trap for new traders is to assume that a low token price means a project is undervalued. However, it’s the market cap that matters most. A token could have a very low price but still a high market cap if there’s a large supply. Degen traders focus on the market cap instead of price per token to understand the real value and potential of a project.
• Psychological Anchoring: Degen trading often involves playing on the psychology of other investors.
Degen trading is a term used in the cryptocurrency and decentralized finance (DeFi) space that refers to high-risk, speculative trading. Traders who engage in this practice, known as “degenerates” or “degens,” often aim for quick gains by trading volatile tokens, participating in early-stage projects, and leveraging complex DeFi protocols without always conducting thorough due diligence.
Researching for Degen Trading
Researching for degen trading involves finding new, undervalued, or high-potential opportunities that may not yet be mainstream. Here are some methods and tools to conduct effective research in this niche:
1. Social Media & Community Platforms:
• Twitter/X: Degen traders often share information about new projects, airdrops, and potential opportunities. Following influential traders and accounts in the crypto space can provide early insights into trending projects.
• Telegram & Discord: Many DeFi projects have active communities on these platforms. Engaging in these groups allows you to get direct information, updates, and participate in discussions with other traders and project teams.
• Reddit (e.g., r/cryptocurrency, r/defi): Subreddits focused on crypto and DeFi can be valuable for discussions, user experiences, and discovering hidden gems that may not be widely known yet.
2. Decentralized Data Analytics Tools:
• Dune Analytics: This platform allows users to create custom queries to analyze on-chain data, including transactions, liquidity, and other blockchain activity. It is useful for understanding project activity and token movement.
• DeFi Llama: Useful for tracking total value locked (TVL) across various DeFi protocols, which gives insight into the popularity and trust in a project. It helps to identify which protocols or chains are growing.
• Glassnode & Nansen: These tools provide on-chain analytics and wallet tracking to see where large amounts of funds are moving. This can indicate potential market trends and help find the next hyped projects.
3. Token Screening & Tracking:
• DEXTools: DEXTools offers real-time charts and analytics for decentralized exchanges (DEXs) like Uniswap or SushiSwap. It is useful for tracking liquidity pools, new token listings, and whale activities.
• Poocoin: Often used for analyzing smaller-cap tokens on chains like Binance Smart Chain (BSC). It provides charting tools that can be useful for monitoring early-stage token prices and trading volume.
• CoinGecko & CoinMarketCap: These websites list new tokens and can be filtered based on criteria like newly listed coins, trending projects, and high-percentage gainers.
4. Liquidity & Yield Farming Opportunities:
• Yield Farming Aggregators: Platforms like Yearn Finance, Beefy Finance, or Autofarm can help find the best yield opportunities across various DeFi protocols, which is crucial for degens looking for high returns.
• APY Vision: This tool tracks your yield farming returns across multiple DeFi platforms, which is helpful for assessing the performance of high-risk liquidity pools.
5. Tracking Launchpads & IDOs:
• DAO Maker, Polkastarter, and PinkSale are some platforms where new tokens are launched through Initial DEX Offerings (IDOs). Keeping an eye on these platforms allows degens to get in early on projects with high potential.
6. Risk Management Insights:
• Degen trading is inherently risky, so using stop-losses and portfolio trackers (like Zapper or Debank) can help manage risk.
• RugDoc: Useful for vetting new projects, especially those launched on newer chains like BSC, to help identify potential scams or rug pulls, a common risk in degen trading.
General Approach to Degen Trading Research
• Watch for Trends: Being active in crypto forums and social media helps identify upcoming trends, like the rise of memecoins, new Layer 2 solutions, or NFTs.
• Understand Tokenomics: Researching token supply, distribution, and the roadmap of a project can help assess its potential value. Projects with deflationary models or strong utility may have better long-term prospects.
LIMIT ORDER
SHORT SELL📉📉
PONKEUSDT
ENTRY: 0.42776
TP: 0.39930
SL: 0.43215(1.03%)
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LIMIT ORDER
LONG BUY📈📈
CVCUSDT
ENTRY: 0.13886
TP: 0.14249
SL: 0.13817(0.50%)
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REEFUSDT
ENTRY: 0.001980
TP: 0.004705
SL: 0.001709(13.69%)