If you have been following the update in the crypto community, especially on Binance, you will understand that the meme coins have been having interesting twist and turns and Bonk token is not left out.
An update recently regarding Bonks has it that, Bonk is about to burn 74 Billion Tokens. To understand this properly, let us first understand the total supply of Bonk in circulation.
Binance Rating : No 48
Market Cap: $2.11 Billion
Fully Diluted Market Cap: $2.84 Billion Market Dominance: 0.0863%
Circulation Supply: 68.9Trillion
Total Supply: $92.91 Trillion
All time high: $0.000047035299528 Date: 2024-03-04)
All time low: $0.000000091971686 (Date: 2022-12-30)
In fact, both the rise and fall are logical, because there are signals when funds enter and leave the market. You just need to see the data and follow up.
There are three advantages to having data.
First, you are very confident when you open a position. You know that the dealer has begun to enter the market.
Even if he really does evil and smashes it later, you know that it is the dealer who is doing evil, not you who have no logic to open orders and cause losses. This will greatly improve your overall trading confidence.
Second, if you can see that the data is always flowing in, and you know that the main force has not left, will you not be able to hold the order? You will definitely hold it. Even if the K-line has a callback, you know that this is a trick played by the dealer.
Third, when the dealer really starts to flow out quickly and in large amounts, you can know it at the first time, run away with it, and lock in profits.
The most uncomfortable thing for leeks is the loss, which leads to emotional and random trading. The currency circle is even more of a Shura field for human nature. If you have nothing to support you to open orders rationally, it is easy to be harvested by the dealer.
I know that everyone likes to play altcoins, but altcoins are highly controlled by dealers, and it is almost meaningless to look at the K-line. If you can't shorten the information gap between you and the dealer, you can only be the one who is harvested in this dark forest market forever"
Since this update of Bonk burning 74 Billion surfaces the cryptospace, Bonk has been making it to the top trades coins and also on Binance list of Hot coins. 🔥
If you are a spot trader, my best advice is for you to not get too confident, just grab profit and exit and repeat the process as many times as you can. Remember to always grab at least +10 to +15 profit at maximum. All futures traders know what to do, call your own shots as you are the Boss.
Summary:
This my insights and advice on trading cryptocurrencies, specifically the Bonk token, which has been performing well recently.
Here's a breakdown of the message:
1. Understand market dynamics and not getting too confident in trading. Take profits and exiting trades repeatedly, aiming for a minimum of +10 to +15% profit.
2. Ftures traders should use their own judgment and expertise to make decision.
If you live in Nigeria and you possibly want to know how to invest in Crypto, please reach out to me on +2349020222223 and your open sesimi is FROM SIDE HUSTLE NIGERIA....'Ire oooo'.
Crypto Nerd 🤓 ✍️
Joaeph.O.Bankole
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