New Delhi [India], June 27 (ANI/ATK): The volatile and highly uncertain cryptocurrency market is one fact that can't be talked about enough.
However, unpredictable upward and downward trends of cryptocurrency prices shouldn't discourage you from delving into the world of crypto.
For a savvy investor looking to make a potential profit on the Mehracki (MKI) meme token and Stellar (XLM) in harsh conditions of a bear market rally, there are certain things that need to be taken into account. Namely, investing in a bear market is a wild ride, but the tips considered in this article could help you navigate more successfully in the cryptocurrency market during a bearish market run and beyond.
The Stellar blockchain network is a decentralized protocol that operates as an open-source code. It was created to enable the cross-border transfer of cryptocurrency (digital currency) to fiat money (local currency) between users.
The payment system allows you to send payments in a specific currency even though your credits are in a different one. The network automatically performs the conversion, and the receiver gets the equivalent amount via partner financial institutions (e.g., banks).
Stellar employs its consensus mechanism -- SCP (stellar consensus protocol), to make the platform secure, and guarantee users of optimum protection during cross-asset/cross-border value transfers. The network boasts high transaction speeds and low costs. The distributed ledger network's cryptocurrency is LUMEN (XLM). It's used on the network and can be traded across different crypto exchanges.
It is currently ranked #24 on the CoinMarketcap, with a circulating supply of 24,988,272,356 XLM and a maximum supply of about 50 billion XLM. Stellar (XLM) reached its ATH four years ago, with a market price of USD 0.9381.
The least price ever recorded was USD 0.001227 about 8 years ago. While its current market price in the bear market is around USD 0.1, there's a need to make careful risk assessments before investing in the token.
Mehracki (MKI) is a community-driven meme token and is believed by some analysts to have a successful entry into the coin market. Every Reddit crypto discussion about (MKI) indicates it could be the next big thing in crypto meme tokens.
Safemoon coin, Dogecoin (Doge), and Shiba Inu (SHIB) are among the most successful meme tokens out there, even though their success was relatively short-lived. The Mehracki (MKI) has been tipped to follow these meme coins' booming upward trend without abruptly traveling south, thus with solid potential to stand the test of time.
Mehracki's real-life application and use cases, coupled with a strong community governed by DOA (decentralized autonomous organization) are among the factors believed to help the token make it into the big leagues.
The (MKI) is a Solana-based token, offering a wide range of applications, including NFTs, DeFi, and DEX-related uses, which is not very common for meme tokens. However, it's still essential to consider certain things before investing in any new Cryptocurrency.
Here are 4 Basic Dos and Don'ts to Consider Before Investing in Both Altcoins
Information is key. Following the right leads with valuable materials and industry specialists' predictions could help determine the right investment time. Staying up-to-date on Cryptocurrency news, joining forums like Reddit, crypto crash Twitter, crypto news Quora, and other Cryptocurrency communities can help you stay informed.
Read Every Project's White Paper
Every Cryptocurrency should have a white paper, and it should be easily accessible. Any project without a white paper could be a sham. Thus, it would help if you go through the Mehracki (MKI) white paper before thinking of investing in it.
You don't necessarily need to read the Stellar (XLM) token's white paper since it launched, but you should do some in-depth market analysis before investing. Don't base your judgment on others' predictions. Always endeavor to DYOR (do your research).
Have an Investment Budget
Budgeting your investment ensures that you keep to the first investment rule of not risking more than what you can afford to lose.Investment budgets also make diversifying your portfolio more manageable, which is another crucial risk strategy.
Be Smart With Your Timing
The Cryptocurrency market is highly volatile with each cycle having its own advantages and disadvantages. Per indications, the bear market is a great time to invest in the Mehracki (MKI) token's presale in anticipation of a bull rally after its successful launch in August. No one knows how long the bear market will last. Thus it's advisable to join the presale ASAP.
Find out more about the Mehracki presale here:
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