Crypto

After starting at around $0.00000005, the HuskyX crypto surged more than 7000% over the weekend, reaching an all-time high of $0.00000387 on Tuesday morning. An incredible performance that propels this dog-themed cryptocurrency into second place among the best performing tokens in the entire market, behind Angry Squid. Let’s have more deep dive into this yet not very popular but already potentially very powerful cryptocurrency.

When humor makes a splash on the financial market

Like most dog-themed cryptos, HuskyX is also a humor-based crypto. It is yet less well known than Dogecoin or the Shiba Inu, of the same category, but its performance of the last week (482,000%) dramaticcaly relocated its position up to the second place among the best performed crypto currencies in the entire market. Angry Squid just has to watch out because with a market capitalization of $3.2 billion, the HuskyX cryptocurrency will have no trouble stealing its limelight in the upcoming days.

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A crypto boosted by the “rebasing” concept

The HuskyX cryptocurrency is a deflationary token, that is to say that it offers more and more decreasing bids.

This form of cryptocurrency is particularly difficult to buy. Moreover, each transaction is taxed, while a small percentage of the coins are burned. According to some experts’ announcements, this meteoric rise of the HuskyX crypto in the current market is justified by the phenomenon of “Rebasing”.

Rebasing is a trading concept that involves adjusting the circulation capacity of tokens. In other words, it is a question of reducing or increasing their offer by burning them or by adding them gradually. Through this process, the price of the tokens stabilizes and does not affect the value of the token owned by the trader.

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A crypto to trade with caution

However, the same experts and analysts advise investors to remain particularly vigilant on this crypto. Because despite its sudden propelling to the top of the financial market, it should be noted that liquidity is negligible and transaction costs remain high. It is therefore essential to understand how the HuskyX crypto works before buying it. Some experts even claim that after reaching a (very sudden) peak, it is highly possible that this crypto can lose its value. That’s why the informed trader should think about diversifying his portfolio on different values in order to avoid a substantial loss.

Successful day trading with HuskyX

There are several strategies for trading cryptocurrency. But day trading has significant benefits, especially for beginners. Particularly accessible, the day trading strategy is simply to open and close positions in the same day. Concretely, to earn gains with day trading, you just have to open several positions throughout the day. We also talk about session speculation to define this trading process which does not require any specific knowledge, which is very suitable for beginners.

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Our tips for trading HuskyX crypto successfully

Diversify your portfolio

HuskyX is by far the most popular dog-themed cryptocurrency at the moment, after Angry Squid. However, it is far from the only interesting token to trade with day trading. This technique is also applicable to all kinds of cryptos and also to Forex. So consider diversifying your portfolio as much as possible to avoid the risk of significant losses.

Use the indicators

The indicator is an essential ally to the day trading strategy. It essentially allows you to know the opposing forces in order to adopt the ideal attitude in the face of market fluctuations. The well-informed trader therefore carefully chooses his indicator and opts for the one that best suits his workflow. The main indicators useful for day trading are the bollinger bands, the MACD (Moving Average Convergence Divergence), the MMS (simple moving averages) or the Heikin Ashi of the Japanese Yasuji Yamanaka.

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November 17, 2021
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