Shaf
Verified member
Shitcoins which are also popularly known as meme coins are coins that have no identifiable purpose or use case which contributes to cryptocurrency. They are valuable to investors only as pump and dump coins.
After doge coin became very popular because of Elon Musk's influence, we saw a lot of them. Some are still surviving, like Shiba Inu, but some are forgotten, like Wakanda Inu. Most of the forgotten ones were formed around events that happened in cryptocurrency and other sectors outside it.
Because of the potential returns, people are drawn to them like flies to honey, but you should be very careful if you choose to do so.
Make it a point to find good ones before people know about them and they start pumping. That's what wise investors do
Also ensure you use a small amount of money, that which you can afford to lose.
Take profits early, when you have double or triple of your investment and let the remaining run.
After doge coin became very popular because of Elon Musk's influence, we saw a lot of them. Some are still surviving, like Shiba Inu, but some are forgotten, like Wakanda Inu. Most of the forgotten ones were formed around events that happened in cryptocurrency and other sectors outside it.
Because of the potential returns, people are drawn to them like flies to honey, but you should be very careful if you choose to do so.
Make it a point to find good ones before people know about them and they start pumping. That's what wise investors do
Also ensure you use a small amount of money, that which you can afford to lose.
Take profits early, when you have double or triple of your investment and let the remaining run.