Today, let's talk about SQD coin
SQD coin is a cryptocurrency issued based on blockchain technology. It may run on a specific blockchain network, following the corresponding consensus mechanisms, such as Proof of Work (PoW), Proof of Stake (PoS), etc. (to be determined based on actual conditions). Like other cryptocurrencies, SQD coin utilizes the distributed ledger technology of blockchain to ensure the transparency, security, and immutability of transactions. Currently, there is limited detailed information available publicly, making it difficult to accurately assess its long-term value and core competitiveness from a fundamental perspective; the market's understanding of it is more based on trading data and market sentiment.
DQD 24-hour trading volume reached 5.622 billion SQD, with a transaction amount of 1.029 billion USDT. The large trading volume indicates a high level of market participation, with frequent inflows and outflows of funds. In a short period, the price skyrocketed from a low point near 0.06458 USDT to a maximum of 0.27451 USDT, followed by a certain degree of pullback, and the current price is 0.17487 USDT. The price increase over the past 24 hours has reached 46.10%, indicating that market trading is active and the competition between bulls and bears is intense. MA(7) is 0.10743, MA(25) is 0.08867, and MA(99) is 0.12998. The current price is significantly higher than these moving averages, suggesting that the short-term price is in a strong position, but there may also be a risk of overbought conditions, leading to price correction pressure.
Short-term trend: Currently, SQD is in a correction and consolidation phase after a rapid price increase. Due to the excessive rise in the previous period, there is a demand for profit-taking, resulting in a certain degree of price pullback. From the perspective of technical indicators and market sentiment, the price may continue to fluctuate around the current position in the short term to digest the previous gains and market selling pressure. If the market buying power remains strong, the price may continue to rise after the consolidation; conversely, if selling pressure continues to increase, the price may further correct.
$SQD
