The crypto market is highly volatile. Prices change very rapidly and as such, these assets are quite ideal for short-term speculative trades. However we must warn you that short term play in crypto is very risky. However, here’s why it might actually work:
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First, because of volatility, price action is so dynamic, allowing you to enter and exit trades.
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In addition, fees in crypto are relatively low, so you do not spend too much for active short-term trading.
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There are also ways to manage your eventual risks, including stop loss and take profit orders.
With this in mind, the following are the two best cryptos to buy for short-term speculative trading:
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a meme token. This basically means that it is mostly a speculative asset with very little intrinsic value. SHIB has been one of the best performing coins in 2021. Even though it is still far from its annual high, those who invested in SHIB a year ago are still very profitable.
Data Source: Tradingview
Like all meme coins, the SHIB is prone to wildly fluctuating prices. For this reason, it is not the kind of asset you want to hold for a long time. But these wildly fluctuating prices can also bring good returns if they swing in your favor.
Dogelon Mars (Elon)
Dogelon Mars (Elon) There is also another satta meme coin. Although the ELON doesn’t explode like the Shiba Inu, it does share similar characteristics. As a result, it is prone to wild volatility and short-term price swings that can make you good money if predicted correctly.
good thing about ELON is that it has more upside to growth than SHIB. But despite this, both these tokens are highly risky, and you should only invest in them if you are aware and comfortable with that risk.