The crypto market is very volatile. Prices move very quickly and as such these assets are quite ideal for short term speculative trading. We must warn you, however, that short term crypto gambling is very risky. Nonetheless, here’s why it can actually work:
Firstly, due to the volatility, the price action is so dynamic, giving you chances to enter and exit trades.
Additionally, crypto fees are relatively lower, so you don’t spend too much on short-term active trading.
There are also ways to manage your ultimate risk, including Stop Loss and Take Profit orders.
With that in mind, here are two of the best cryptos to buy for short-term speculative trading:
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a meme token. Essentially, this means that it is primarily a speculative asset that has very little intrinsic value. SHIB was one of the top performing coins in 2021. Even though it is still far from its annual highs, those who invested in SHIB a year ago are still very profitable.
Data source: Tradingview
Like all coins itself, SHIB is subject to wild price fluctuations. For this reason, this is not the kind of asset you want to hold onto for a long time. But these wild price swings can also bring good returns if they work in your favor.
Dogelon Mars (ELON)
Dogelon Mars (ELON) is also another speculative coin. Although ELON didn’t explode like Shiba Inu, he still shares the same characteristics. As a result, it is prone to wild volatility and short term price swings that can earn you decent money if you plan for them correctly.
The good thing about ELON is that it has more growth advantages over SHIB. But despite this, these two tokens are very risky, and you should only invest in them if you are aware and comfortable with this risk.