How to check the initial price of a new coin when it goes online on the exchange？

How to check the initial price of a new coin when it goes online on the exchange?

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Understanding the initial price of a new currency when it goes online on an exchange is crucial for cryptocurrency investors. It can help them decide whether to invest in new coins and plan their investment strategy. The following are the steps to check the initial price of a new coin:

Step 1: Search for exchanges that support new coins

Visit cryptocurrency data aggregation websites such as CoinMarketCap or CoinGecko.

Search for the new currency you want to find.

In the "Exchanges" tab, view the list of exchanges that support the new coin.

Step 2: Visit the exchange website or application

Select the exchange where you want to find the initial price.

Go to the website of the exchange or download its mobile application.

Register an account and log in.

Step 3: Search for new currency trading pairs

Find trading pairs between new coins and base currencies such as USDT or BTC.

For example, if the new coin name is XYZ, the trading pair may be XYZ/USDT or XYZ/BTC.

Step 4: View the historical K-line chart

Find a new coin trading pair and view its historical candlestick chart.

The K-line chart will display the price trend of the new currency since its launch on the exchange.

Step 5: Determine the launch time of the new coin

Search for the candlesticks chart of newly launched coins in the K-line chart.

It is usually the first green or red candle with a surge in trading volume.

The opening price of the candle is usually the initial price of the new coin on the exchange.

Tips:

If the price of a new coin drops rapidly after its launch, it may indicate that the initial price is overvalued.

If the price of the new currency remains stable or rises after its launch, it can indicate sufficient support.

Always conduct your own research and understand the fundamentals of new coins before investing.