I was trading a shit coin called OG Fan token today. Its price has been increasing from below $3 last week and I decided to go short position with it today at around $6.5. But I was disappointed as the coin increased from $6.5 to $14.7 in less than 30 minutes after. My money was liquidated at $9.
Trading with leverage is risky.
Trading shit coins is risky.
When you combine two big risks, your trading position will have very high risk of liquidation. Because shitcoins usually don't have high market caps and it's very easily to manipulate these shit coins.
I did not know about OG fan token but checking on Coinmarketcap, I find an interesting thing from its historic price chart.
https://coinmarketcap.com/currencies/og-fan-token/There are at least two times in the past, this OG fan token suddenly spikes like the latest spike that causes your liquidation. If you notice its past two strikes, you would have seen this risk and have been more careful to avoid shorting this token.