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Sh*t coins
We live in an era of opportunity. Whether we want to choose a career, a movie or the best news source, we have a tremendous amount of options available to us. The same applies to cryptocurriencies. So why isn’t it a good thing? Why are so many of us even more confused when it comes to investing in various coins and tokens? After all, we should have everything we want!
Well, it’s because we’re trying to do it all. Listening to even self-proclaimed crypto genius and visionary. We have so many options open to us that we end up concentrating on all our different choices and opportunities, all the time. In short, we’re spreading ourselves too thin and burning ourselves out.
What Is Shitcoin?
Investopedia defines the term shitcoin as a cryptocurrency with little to no value or a digital currency that has no immediate, discernible purpose.
Sure, some people may have made a small fortune on meme coins or sh*t coins, but it can be quite a risky proposition. The price may increase exponentionally when a famous influencer posts something on social media, but it doesn't always stay that way.
Ofcourse all currencies, crypto or centrally backed fiat currencies may experience varying episodes of volitility. But they mostly have some purpose other than to purely exist. Most meme coins are purely speculative and only derive value because the market says it does at the moment.
I personally would prefer to stay away from them regardless of technical analysis or price action.
Anyway, that's just my two cents.
Let me know what you think in the comments below.
This is not financial advice, DYOR.
If you liked this and would like to contribute directly -
ETH wallet 0x22FAD82d0D448dFf122E61dE9e5E33b004cC5Fc5
BTC wallet
3FkzjKbtibDA17ZhaFbPmpJoxxYqJJp9z5
nano_14t5e4m4jfui6f6hcycsso6zkzb3z9urji7s1ie6rpet58dxond3hn4ewoqw
