In the world of cryptocurrencies, we see many new coins every day. Some of them, like the meme coin TRUMP/USDT mentioned in the chart, may seem exciting. But they can also be dangerous.
The price can rise quickly, then collapse sharply just like it did here. This is called market manipulation. It can cause significant losses for investors who are not cautious.
So, how can we protect our money in this dangerous market?
1. Stick to the best coins
Always try to trade and invest in strong coins. The best option is to stick with the top 10 cryptocurrencies by market capitalization. These usually include:
Bitcoin (BTC)
Ethereum (ETH)
Solana (SOL)
These coins have real uses, strong teams, and good long-term potential.
2. Use a stop loss in futures trading
If you are trading futures, don't forget to use a stop loss. It will automatically close your position if the price drops too much, protecting your funds from significant losses.
3. Avoid meme coins in futures
Meme coins like TRUMP/USDT are very dangerous. They can be pumped and dumped quickly. It's better to trade strong coins like BTC, ETH, and SOL in futures.
As market sentiments change these days, we need to gather more information and research.
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