Trade 1000SHIB in Future Market at CoinDCX
Issued on: 04th Sep’23
Valid upto: 11th Sep’23
Category: Payments
Market Cap: $4.55B
Price Update
1000SHIB price at the time of writing (04th Sep’23, 13:35) is $0.007726, with a 24-hour trading volume increased by 13.96% to $88.39Million. 1000SHIB price is down by 1.38% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
SHIB X ADA X MATIC
Source: TradingView
Analysis
Analyzing the above chart:
- 1000 SHIB broke an uptrend trendline and retested it.
- It is moving downward and the bearish scenario is confirmed by further lower timeframe patterns.
- Technically, 1000SHIB is weak and its price action too.
- 1000SHIB is adhering to the price action and patterns(with slight delay) similar to MATIC and ADA, which gave a fall.(Comparison can be seen in the chart given above)
- A Short Trading strategy can be assessed between $0.007835-$0.007687 with an invalidation above $0.008267
- On the downside, one can see a fall of 15-20% toward $0.007215 & $0.006455 (valid for 7 days)
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: 1000SHIB is now available in the futures market in both CoinDCX and CoinDCX Pro with up to 5x leverage.
Last 30 Days Analysis Summary
| DATE | TOKEN | Strategy (Long/Short) |
TOKEN RETURN% | TOKEN RETURN % (with 8x leverage) |
BTC RETURN% |
| 4-August | FLOW | Short | 6.16% | 49.28% | -1.90% |
| 4-August | 1000SHIB | Long | 26.16% | 209.30% | 1.41% |
| 7-August | MAGIC | Long | -2.59% | -20.75% | -1.69% |
| 8-August | ADA | Short | 11.27% | 90.19% | -4.27% |
| 11-August | AAVE | Short | 11.53% | 92.22% | -4.15% |
| 17-August | INJ | Short | 15.53% | 124.22% | -12.06% |
| 21-August | RNDR | Short | -4.64% | -37.12% | 2.66% |
| 22-August | ICX | Short | Not considered | – | – |
| 22-August | BNB | Long | Not considered | ||
| 24-August | RUNE | Short | 5.63% | 45.1% | -1.54% |
| 25-August | LDO | Short | -5.02% | -40.15% | 6.04% |
| 29-August | PEPE | Short | -3.78% | -30.23% | 6.25% |
| 1-September | ANKR | Short | Trade is live | ||
| AVERAGE RETURN | 6.03% | 48.2% | -0.93% | ||
| SUCCESS RATE | 60.00% |
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
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