Traders use indicators like moving averages, RSI, or MACD to confirm trends, buying in uptrends or shorting via futures in downtrends. Binance’s low spot fees (around 0.1%) or leveraged futures enable quick trades, but leverage risks liquidation. Success relies on monitoring X for real-time sentiment via tools like Santiment, setting stop-losses to avoid dumps (e.g., LIBRA’s $5B collapse), and acting fast on breakout signals. This strategy suits active traders but requires discipline to avoid scams and false trends in the volatile memecoin space.
