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As the bulls regain control of the cryptocurrency market, a big question looms large: which crypto to buy today for short-term trading?
Quick Highlights
Pikamoon (PIKA) – The Spotlight Crypto: Pikamoon stands out for short-term trading with its promising GameFi and Meme token attributes, transparency, and significant pre-sale success, suggesting a high-reward potential at a low entry cost.
Bitcoin (BTC), Solana (SOL), and BNB: These cryptocurrencies stand out for their rapid gains potential. Solana’s high transaction speeds and low costs favouring meme token and DeFi activities, Binance Coin (BNB)’s trading appeal, and BTC’s strong market performance and bullish sentiment present lucrative opportunities for short-term traders.
Avalanche (AVAX), MYRO and Shiba Inu (SHIB): MYRO offers a classic high-risk, high-reward scenario for seasoned traders, while Shiba Inu’s meme status, influenced by market hype and its extensive ecosystem, positions it for short-term profit. Avalanche’s scalability and meme token popularity add utility for daily opportunities.
Strategic Short-Term Trading for Quick Profits: Success in short-term cryptocurrency trading hinges on understanding market volatility, leveraging tokenomics, and executing timely trades across diverse cryptocurrencies.
We took a closer look at more than 250 cryptocurrencies, evaluating them on various parameters such as availability, transparency, tokenomics, and others. You can read more about the criteria further down in the article.
By doing so, we’ve narrowed down the list to 7 cryptocurrencies that show the greatest potential for short-term gains. Read on to find out more!
Note: We update this article every week to reflect the most up-to-date and recent developments in the crypto market.
Best Crypto To Buy Right Now For Short-Term Trading
Let’s start off the list with cryptocurrency projects that have some big developments coming up in the near future.
If you’re still sleeping on this one, it’s time you wake up because Pikamoon (PIKA) is the best short-term crypto investment right now.
Why? Because this newest GameFi AND Meme token is gearing up for a grand entrance. On March 22nd, it will debut on top-tier crypto exchanges: Uniswap, MEXC, and Bitget. The initial offering price is a jaw-dropping $0.0007 per token. So, if you’re looking for an attractive entry point, this is it. Fill your bags before the rocket takes off!
What makes Pikamoon different from others is transparency. The project’s founders have stepped out of the shadows, which is pretty refreshing in the crypto space, to say the least.
In a revealing podcast episode on the official Pikamoon channel, Brock, Kanto and the front-facer NIX came forward as the co-founders of tech innovators. You can watch the full podcast below:
Unlike other GameFi tokens, PIKA has a limited supply of 50 billion tokens and a deflationary mechanism set in place from the get-go. That means the price of PIKA is going to shoot up as time goes on, which will protect it from inflation which we have seen with some other GameFi projects – Ahm AXS – in the past few years.
PIKA also enjoys great word of mouth and positive market sentiment. The world’s leading crypto experts and influencers are already talking about its “moonshot” potential, positioning it as the next big altcoin set to skyrocket. No wonder then its final pre-sale round sold out in just 6 days raising $1.4 million during this period.
With a fully doxed team at the helm, a robust roadmap, and solid community backing, PIKA has the potential to see 1000x price appreciation in the short term – just like other GameFi tokens did in the previous bull run.
Avalanche (AVAX)
Second, we have a cryptocurrency that’s causing quite an “Avalanche” these past few weeks.
Avalanche is a blockchain platform that prioritises speed and scalability, using Proof-of-Stake and the “Snowman” consensus protocol for agreement. Even though it has a higher entry point, recent predictions are hinting that Avalanche will cross $100 sooner than you’d think.
Its compatibility with the Ethereum Virtual Machine allows seamless migration of Ethereum applications to Avalanche, fostering a thriving decentralised finance (DeFi) ecosystem, currently ranking fourth in Total Value Locked (TVL) among all blockchains.
AVAX serves as Avalanche’s native asset, which is used for staking and transaction fees. Staking AVAX allows users to deploy specialised blockchains called “subnets” for specific use cases.
Avalanche’s recent surge in popularity is partly attributed to the meme token craze, with AVAX gaining approximately 40% in March, alongside the rise of Avalanche-based meme tokens like Coq Inu and Kimbo.
The Avalanche Foundation’s Culture Catalyst program involves acquiring “community coins,” with recent acquisitions including Coq Inu, Gecko, Kimbo, NoChill, and Tech. The foundation plans to continue supporting community coins in the future.
Further, major South Korean video game publisher Nexon announced the launch of MapleStory Universe on an Avalanche network subnet. MapleStory Universe extends the popular MMORPG MapleStory, which has thrived for over two decades and includes NFTs based on MapleStory intellectual property.
Bitcoin (BTC)
Bitcoin’s recent price trajectory has indeed been a rollercoaster, making it a topic of interest for short-term traders. Its ability to reach new all-time highs ($73,750.07 a few days ago), only to retract back to the $61,000 range and surge again, exemplifies the classic high-risk, high-reward scenario inherent in cryptocurrency trading.
While Bitcoin may not offer the exponential returns of lesser-known altcoins, its significant price movements can still yield considerable profits for astute traders.
The volatility of Bitcoin is a double-edged sword; it provides the opportunity for substantial gains but also entails the risk of equally substantial losses. This volatility is driven by various factors, including market sentiment, regulatory news, and technological developments.
For instance, on-chain data indicates that short-term Bitcoin holders have recently turned profits, capitalising on the price appreciation after entering long positions during Bitcoin’s five-month low. This suggests that timing and market sentiment play crucial roles in successful short-term trading.
Moreover, Bitcoin’s position as the progenitor of the digital currency era cannot be overstated. It has not only revolutionised the concept of money but also continues to dominate the market with the highest liquidity. This liquidity ensures that trades can be executed swiftly, a critical factor for short-term trading where timing is everything.
With a market cap hovering around $1.3 trillion, Bitcoin’s market depth means that trades can be made at virtually any time without significantly affecting the price, a feature that is particularly attractive for short-term traders looking to make a profit on small price movements.
So, while Bitcoin may not be the quintessential choice for short-term gains compared to more volatile altcoins, its established market presence and liquidity make it a viable option for traders who can navigate its price fluctuations with strategic precision.
Solana (SOL)
Solana is another cryptocurrency offering a roller coaster ride. The Ethereum competitor broke the $200 barrier for the first time in the last few days before retracting back to the $167 range – which, of course, presents a great opportunity for quick gains.
Solana stands out as a smart contracts platform, boasting a unique architecture capable of processing thousands of transactions per second at incredibly low costs. Its innovation lies in the combination of the Proof-of-History algorithm and Proof-of-Stake consensus mechanism. SOL, its native token, is among the most economical cryptocurrencies to transfer, with users paying less than $0.001 per transaction on average.
Anatoly Yakovenko founded Solana in 2018, and since its mainnet launch in March 2020, the platform has experienced significant adoption, particularly in 2021. Despite a decline in SOL’s value during the 2022 bear market, Solana maintains one of the most vibrant ecosystems in the cryptocurrency sphere.
Solana has become a hotspot for the meme token boom due to its low fees and user-friendly interface, attracting speculators to decentralised exchanges for new meme token launches. Tokens like Dogwifhat, Bonk and Book of Meme have sparked crypto frenzies, inspiring others to replicate their success.
Recent data from DeFi Llama reveals that Solana-based decentralised exchanges nearly hit a daily trading volume of $3.8 billion last Friday. On-chain trading activity within the Solana network has also reached record highs.
Google Trends data also indicates a surge in search interest for “Solana,” signalling growing curiosity among new and potential crypto investors.
Reflecting this heightened activity, SOL has seen a 12% increase in the past week despite a bumpy ride. It has since climbed to fourth position in cryptocurrency market cap rankings, overtaking BNB.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a meme coin that was initially designed to rival Dogecoin. It shares some remarkable similarities with DOGE such as being inspired by the Shiba Inu dog breed and its ties to Elon Musk. Both of these have contributed to its popularity as a short-term investment option.
Unlike most meme coins, SHIB has evolved into a comprehensive ecosystem, boasting its decentralised exchange (ShibaSwap), project incubator, three additional tokens (LEASH, TREAT and BONE), SHIBOSHI NFTs, and even a Shiba Inu Rescue Association.
What makes SHIB attractive for short-term gains? It has a very low entry-point, large market cap, and highly volatile asset, heavily influenced by hype.
Elon Musk’s endorsements often play a significant role in pumping its prices. Last year, Musk’s simple tweet about getting a Shiba Inu dog caused SHIB’s price to surge by nearly 200%, demonstrating the immense power of influential figures in the crypto market. Thus, staying updated on news and social signals is crucial for those considering SHIB for short-term investment.
Due to its low price and tight price range fluctuations, SHIB is often favoured for scalping (we will explain scalping in a later section), making it appealing for investors seeking short-term profits.
To sum up, SHIB’s combination of high volatility, high liquidity as it is the 11th biggest cryptocurrency by market cap, and hype-driven nature positions it as one of the top choices for short-term investments in the cryptocurrency market today.
Binance Coin (BNB)
BNB exhibits notable volatility, although it’s been relatively stable since 2021 concerning large price swings. However, its volatility remains conducive to day trading or scalping due to daily price fluctuations typically amounting to a few dollars during the day.
Moreover, it’s important to recognize BNB’s significant growth potential, making it a compelling asset to monitor. The popularity of Binance and its continuous expansion of features suggest the potential for an increase in BNB’s utility and value.
Launched by the Binance cryptocurrency exchange in 2017, serves dual roles. Firstly, token holders enjoy exclusive benefits on Binance, like reduced trading fees, access to Launchpad and Launchpool programs, cashback on Binance Visa card purchases, and more.
Secondly, BNB acts as the native asset of BNB Chain, a blockchain variant akin to Ethereum but with notably lower transaction fees. It facilitates easy deployment of EVM-compatible decentralised applications for developers. Originally named Binance Coin, BNB has undergone significant rebranding.
Binance’s Launchpool platform has been making waves, with rapid succession announcements of three projects. The latest, on December 27, introduced the Sleepless AI project’s Launchpool program.
With BNB being the sole non-stablecoin asset eligible for Launchpool staking, these announcements have spurred demand for BNB, currently showing an approximately 40% change against the US dollar.
Users can stake their BNB via Binance Launchpool to earn tokens from upcoming blockchain projects, with the flexibility to unstake at any time. This offers users a chance to acquire new tokens while assuming relatively low risk during the staking period.
Keep an eye on Binance in the coming days for potential new Launchpool or Launchpad program announcements. These developments could trigger another uptick in BNB’s price.
MYRO (MYRO)
MYRO is a Solana-based meme token that gained significant attention these past few days.
Its recent price surge of 11.53% within a day, coupled with a substantial 24-hour trading volume exceeding $122 million, indicates heightened market activity and investor interest. Such dynamics often signify short-term trading opportunities, as increased liquidity allows for easier entry and exit into positions.
With a market capitalization of approximately $264 million and a ranking of #265 on CoinMarketCap, MYRO holds a respectable position in the cryptocurrency market. This suggests sufficient market depth and visibility, factors that are conducive to short-term trading strategies.
The bullish sentiment within the MYRO community, evidenced by analysts predicting further upside potential and a potential move towards its new all-time high, adds to the attractiveness of MYRO as a short-term investment option. Positive community sentiment often translates into increased buying pressure and price momentum, favourable conditions for short-term traders seeking quick gains.
MYRO’s affiliation with the Solana ecosystem adds another layer of strength to its investment proposition. The resilience and robustness demonstrated by the Solana ecosystem can positively influence the performance of associated meme coins like MYRO.
In addition to these factors, MYRO’s historical price performance provides valuable insights. Despite its relatively recent entry into the market in November 2023, MYRO has exhibited significant price volatility, including notable surges (in March and January) and retracements (in December 2023 and February 2024). Such volatile price dynamics offer ample trading opportunities for short-term traders adept at capitalising on market fluctuations.
Therefore, MYRO’s recent price surge, robust market performance metrics, bullish community sentiment, and affiliation with the resilient Solana ecosystem collectively position it as an attractive short-term investment option for traders.
Now that you know our best take on short-term crypto investments, let’s look at…
Types of Short-Term Trading
Short-term trading consists of various strategies to capitalise on quick price movements in the cryptocurrency market. Three of its primary types are scalp trading, day trading, and swing trading. We’ll discuss each of them in the following paragraphs:
Scalp Trading
Scalp trading involves rapid buying and selling of crypto within very short time frames, typically ranging from 1 to 15 minutes. Traders aim to profit from small price fluctuations, usually between 1% to 3%.
Scalping demands frequent trading activity, with traders executing hundreds of trades daily. Scalp traders often capitalise on high market volatility, entering and exiting positions swiftly after significant market movements.
While offering quick profits without extensive market analysis, scalping requires precise timing, a keen eye on the latest news, and significant time commitment.
Day Trading
Day trading shares similarities with scalp trading but focuses on larger price movements and longer time frames, spanning from 15 minutes to a day. Profits in day trading typically range from 5% to 15%.
Day traders execute fewer trades per day compared to scalpers but aim to close all positions by the end of the trading day. Like scalping, day trading relies on high market volatility and may incorporate analysis of crypto news for potential price surges.
This short-term trading strategy demands extensive technical and fundamental analysis. Therefore, day trading remains highly time-intensive.
Big-name cryptocurrencies on our list such as BTC and SOL are ideal options for day trading and scalping trading strategies. This is because they offer the largest and most liquid coins in the crypto market.
Swing Trading
Swing trading targets higher price movements over longer time frames, spanning from several days to weeks. Profits can range from 15% to even 100%, depending on market conditions.
Swing traders execute fewer trades per month compared to scalp and day traders, requiring less time commitment. However, it necessitates advanced skills in technical and fundamental analysis.
Traders often anticipate events that could prompt significant price changes, requiring them to stay updated with crypto market news. While offering the potential for substantial profits with reduced time commitment, swing trading is considered the riskiest and requires the most advanced analysis skills.
New altcoins in the crypto market such as our top pick Pikamoon are usually the best options for swing trading. However, they can also offer massive gains for scalpers and day traders as they see the most price fluctuations during initial days on the free market.
Choosing the Best Crypto for Short-Term Investment
When selecting the best cryptocurrency to invest in the short term, several key factors come into play:
1. Volatility
Volatility refers to the degree of variation in a cryptocurrency’s price over a certain period. High volatility means that prices fluctuate significantly within short time frames, offering opportunities for traders to capitalise on price movements. This is crucial for short-term traders who aim to enter and exit positions quickly to profit from these fluctuations.
2. Tokenomics
Tokenomics refers to the economic principles governing a cryptocurrency’s ecosystem. Limited supply and burn mechanisms are favourable features as they create scarcity, potentially driving up the value of the cryptocurrency over time. Scarcity often leads to increased demand and higher prices, which can benefit short-term traders.
3. Availability
Accessibility is important for short-term trading as traders need to quickly access and trade cryptocurrencies across various exchanges. A cryptocurrency that is easily available on both centralised and decentralised exchanges, and can be traded directly against fiat currencies, simplifies the trading process and enables faster execution of trades.
4. Market Capitalization
Market capitalization reflects the total value of a cryptocurrency, calculated by multiplying its current price by the total supply of coins in circulation. While large market capitalization indicates significant community interest and resilience to market manipulation, low-cap projects may offer higher potential returns, albeit with greater risk.
5. Sector Potential
The cryptocurrency market can be categorised into different sectors based on technology, functionality, or application. Recognizing the potential of sectors such as decentralised finance (DeFi), GameFi, non-fungible tokens (NFTs), and layer 2 projects helps traders identify opportunities for short-term gains within specific niches.
Leading projects in these sectors or those demonstrating promising growth potential are attractive options for short-term trading.
To give you one example, the GameFi sector is expected to experience significant growth, with a projected Compound Annual Growth Rate (CAGR) of 27% from 2022 to 2031, according to business research insights.
Our top pick, Pikamoon (PIKA), is poised to benefit immensely from this growth potential and emerge as the standout performer of this market cycle, akin to Axie Infinity in previous bull runs.
Axie Infinity and The Sandbox, both GameFi projects, witnessed remarkable market cap growth, soaring from under $30 million to over a billion during the bull run of 2021. PIKA enters the market with a similar market cap which shows why it has such a high moonshot potential.
6. Working Products
Cryptocurrencies with established working products or those nearing completion of key milestones are preferred for short-term trading.
This is one of the reasons we picked Pikamoon (PIKA) as our top choice. Pikamoon has already launched the beta version of the P2E game on Android and iOS platforms and boasts a growing community of 10,000+ active gamers.
Functional products demonstrate real-world utility and value, increasing investor confidence and reducing investment risk. Traders should prioritise projects with tangible achievements over those relying solely on future promises.
7. Team and Development
The team behind a cryptocurrency project plays a crucial role in its success. Transparent and qualified teams actively engaged in project development inspire confidence among investors. Regular updates and ongoing development activities signal commitment and progress, enhancing the project’s credibility and appeal to short-term traders.
Final Thoughts – Which Crypto To Buy Today For Short Term?
All said, now is an opportune moment for short-term traders to capitalise on potential gains. Among the myriad options available, Pikamoon (PIKA) is the most compelling choice for astute investors seeking lucrative opportunities.
Pikamoon distinguishes itself as a pioneering GameFi and Meme token, poised for a grand entrance into the market. With its imminent debut on top-tier exchanges and an initial offering price that presents an attractive entry point, PIKA offers traders an enticing proposition for short-term gains.
Moreover, Pikamoon’s transparency, limited token supply, and deflationary mechanism set it apart from other GameFi tokens, positioning it for significant price appreciation over time. Backed by positive market sentiment and endorsements from leading crypto experts, PIKA has garnered widespread attention and anticipation, evident from the rapid sell-out of its presale rounds.
With the knowledge of short-term trading strategies, you now have the flexibility to tailor your approach to match your risk appetite and investment goals. Pikamoon’s volatility, liquidity, and promising growth prospects make it an ideal candidate for various short-term trading strategies, offering traders ample opportunities to make 100x or more gains on short market fluctuations.
Visit the Pikamoon Official Reddit community to witness the enthusiasm of the Pika army firsthand.
Frequently Asked Questions – FAQs
What Is Short-Term Trading in Cryptocurrencies?
Short-term trading involves buying and selling cryptocurrencies within a short timeframe, aiming to profit from small to significant price fluctuations. This can span from minutes (scalp trading), days (day trading), to weeks (swing trading), depending on the strategy employed.
How Do I Choose a Cryptocurrency for Short-Term Trading?
When selecting a cryptocurrency for short-term trading, consider factors such as volatility, tokenomics, availability, market capitalization, sector potential, working products, and the team behind the project. High volatility and liquidity, limited supply, and significant market potential are crucial factors for short-term gains.
What Are Some Recommended Strategies for Short-Term Trading?
The document outlines three primary strategies: scalp trading, day trading, and swing trading. Scalp trading involves rapid trades to profit from very small price movements, day trading targets larger price movements within a single day, and swing trading aims to capitalise on significant price movements over several days to weeks.
Are There Any Risks Associated with Short-Term Cryptocurrency Trading?
Yes, short-term trading comes with risks, including market volatility, the potential for substantial losses, and the need for constant market analysis and timing. Traders should be aware of these risks and consider them carefully before engaging in short-term trading.
How Important Is Market Sentiment in Short-Term Trading?
Market sentiment is crucial in short-term trading. Positive or negative news, social media influence, and overall market trends can significantly impact cryptocurrency prices. Staying updated on news and trends is essential for timely and informed trading decisions.
Can I Trade Any Cryptocurrency on a Short-Term Basis?
While most cryptocurrencies can be traded on a short-term basis, not all are ideal for short-term strategies. Cryptocurrencies with high volatility, liquidity, and market presence, like Bitcoin (BTC), Solana (SOL), and emerging tokens with strong potential like Pikamoon (PIKA), are often more suitable for short-term trading.
What Role Do Tokenomics Play in Choosing a Cryptocurrency for Short-Term Trading?
Tokenomics are critical as they determine the supply dynamics, demand, and long-term viability of a cryptocurrency. Features like limited supply, burn mechanisms, and staking rewards can influence short-term price movements and overall investment attractiveness.
How Can I Stay Updated on Opportunities for Short-Term Trading?
To stay updated, follow cryptocurrency news outlets, subscribe to newsletters, join community forums, and use social media platforms. Additionally, utilise technical analysis tools and keep an eye on market trends to identify potential trading opportunities