Friends, today I will share with you some of my analysis on the STEEM token. For the past few days, I have been observing the charts and data of this token on Binance quite closely. I thought I would share my findings with you as well.
The first thing that surprised me the most when I looked at the screenshot was its trading volume. Currently, the price of STEEM is $0.06241 (which is about 7.66 taka in Bangladeshi taka). It has gone up by about 5% in the last 24 hours. But the interesting thing is, the market cap of this token is only $33.79 million, while its trading volume is $52.47 million!
That is, the volume is 155% higher than its market cap. In general terms, the size of the token is much more than its trading volume. This means that there are big traders or whales in the market. In such a situation, the price of the token can move very quickly in either direction.
I analyzed the weekly (1 week) and monthly (1 month) charts and saw that the token has been in a downtrend or bad period for quite a long time.
While browsing Coin Info, I saw that last month (February 6, 2026), it had dropped to its lowest price in history (All-Time Low - $0.044). However, the good news is that the coin is now slowly trying to turn around or recover from there. If you look at the MACD indicator on the weekly chart, you will see that the red bars have ended and green bars are now forming. This means that the selling pressure has decreased, and buyers are entering the market.
However, there are also several 'S' or sell signals on the chart, which is a bit of a concern. You can see on my chart that the 'Sell Avg. Prie' is set at $0.07782. This means that I still have to wait a little longer than the current price to reach that target.
When trading any coin, I pay great attention to its supply. One big negative aspect that I noticed in the case of STEEM is its Max Supply, which is unlimited. That is, its supply can increase in the future, without any specific limit.
This old project from 2016, once (in 2018) reached $8.57! And today that coin is trading for just a few cents.
All things considered, STEEM does not seem like a very good coin for long-term or for buying and keeping for years (due to its unlimited supply).
However, it can now be a great option for short-term trading or scalping. Since its volume is now very high, it is possible to make a good profit if you buy at the support level and sell at the resistance.
This is all my own analysi,s and I shared what I thought after looking at the chart. The crypto market is always very risky. So before investing in any coin, you must do your own research thoroughly.
