The current trend of trading on various cryptocurrency platform is rising up the hill daily. The current all time high market capital of cryptocurrency has crossed 2.6 trillion dollar and that is a lot. With various different coins in market, DOT is one of the top 10 coins in cryptocurrency list. The actual name of the coin is PolkaDot.
What is DOTDOWN Coin?
DOTDOWN is a Binance Leverage coin available only for trading on Binance platform. The reason why it is called as leverage coin is because that takes up various factors into consideration by multiplying the loss or profit with a minimum range. DOTDOWN as the name suggests increases when rate of DOT coin in overall manner falls. It is considered as a short-term trading investment, and Binance warns people to make sure to withdraw their portfolio consisting DOTDOWN before it liquidates. It is not a long-term trading coin that can be held for longer period. The average time that Binance suggests to hold the coin is 1 week.
Trading Analysis
Trading any leverage coins requires patience because if the profit is multiplied on higher scale, then the loss conquers on the similar number. Whenever the market is steeping low and DOT overall market price is reducing, that is the best time to purchase DOTDOWN.
Look at the market capital of DOT, if it is falling continuously and the overall drop percentage is less than 2% in past 1 hour, then you can consider purchasing it for short-term.
Market capital
DOTDOWN all time high currently is around $16 where as it has reached almost $7 for all time low after the launch of the coin. The currently liquidity value of DOTDOWN is 694 and there is not exact market capital or trading capital of the same. It had a trading volume of $4,061,601 USD with a $7.31 today. The coin’s rank is 2897 in market with no circulation details available for the same.
Please ensure you have fully read the Binance Leveraged Tokens Risk Disclosure Statement prior to trading or participating in any Binance Leveraged Tokens products, and fully understand the risks associated with leveraged tokens.
Price Analysis
As the overall value or price of DOTDOWN is considered by the fluctuation of actual coin DOT, the price analysing is little difficult. The current value of the coin is $7.31, and is expected to reach $15 by the end of month. This means that the overall market is tend to fall soon. If DOT falls by almost 30% in overall market price, then DOTDOWN will successfully reach $15 without any concern.
DOTDOWN Price by 2022
The price considered for DOTDOWN in 2022 can be around $18 (if the overall DOT value reduces).
DOTDOWN Price by 2023
The price surge of DOTDOWN by 2023 will be almost $25 after liquidation of majority of coins in circulation is considered.
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Once again, dealing with leverage coins is highly risky, make sure to do proper research and consider investing moderately.
