What is a Shitcoin and how to profit from it. - Crypto Academy / S5W8 - Homework post for nane15
As time passed Bitcoin began to be built, several other cryptocurrency tokens were created, some of which were created by curious developers using this new technology, others trying to solve problems, and many others because of the currency.
Shitcoin is a coin that has a low cap and a completely unclear prospect. Even though there is no real technological innovation, shitcoins appear almost every day.
Shitcoin is a derogatory term used to describe crypto-eaters who have become useless. It is a cryptocurrency with no purpose, value or future because previous projects were not implemented or because the currency itself was not created in good faith, so shitcoins could lose their value.
Shitcoin characteristics
Shitcoin is a cryptocurrency with little or no value or a digital currency that has no immediately identifiable purpose.
This term is often used to describe altcoins, or cryptocurrencies, which were developed after bitcoin became popular.
We can mark Shitcoin with a price increase that is too short and then followed by a very sharp price decrease that is all caused by investors who want to get short-term profits.
As a rule, you should not invest in shitcoins. Only those who have a lot of experience and knowledge of what they do can make money with Shitcoin investments.
You can recognize Shitcoin by its pattern. It is released in the market at a relatively low price. Then the price goes up massively and goes down after a few days. Not much happened after that.
As with any coin, you have to evaluate how the technology and value behind the coin is regulated. Is there a company behind it? What does it do and where? Apart from this company, has anyone else reported the activity? What value does this company generate? How did he get the money? If your research shows that it's not very clear how companies make money and create value, you should stay away from coins.
Junk coins have the following advantages:
There is a strong price movement
Bring high profit with low investment
Have good profitability if you know the right time to buy and sell
In addition to the advantages, trash coins also have disadvantages such as:
Relatively low liquidity
Profit is very risk, don't rely too much on technical analysis, so a good trader is not necessarily successful.
- Squid Games
The Squid Game cryptocurrency boom lasted for a few days, and the crash lasted only a few minutes. Shortly after its appearance last week, the value of the digital coin soared to over $100. Anonymous currency developers borrowed their huge popularity from the successful Netflix series Squid Game, after which they named their project - almost no connection to the series, its creators, or the Netflix streaming service. Yesterday, at the beginning of the month, the price really exploded and in a short time it reached $2,856, and in five minutes it fell like a rock to less than a tenth of a cent.
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- GOLDEN SHIBA
GOLDEN SHIBA is a cryptocurrency used on the Binance Smart Chain with a total Supply : 1,000,000. As for before becoming a golden Shiba scam coin, he wanted to manipulate beginners by looking at the success of the Shiba inu coin.
- Baby Doge BNB
Baby Doge BNB is a cryptocurrency that uses Binance Smart Chain (BSC BEP20) Total Supply of 100,000,000. Before becoming a scam coin maybe the coin wants to influence beginners who are just learning to invest in the crypto market. Maybe for some beginners it will be because of the success of the Doge.
- SafeMoon
SafeMoon's founders created a decentralized financial token with three functions: flipping, burning, and accepting liquidity providers. This protocol combines tokennomics and automated liquidity with a focus on developing non-fungible tokens (NFT). In addition, investors are using it as a charity project for educational and crypto platforms.
SafeMoon aims to improve the Dogecoin token model. Unlike Bitcoin, which has a limited supply of 21 million coins, there is a potential unlimited supply of Dogecoin, which provides the so-called inflation token model.
To fix this, SafeMoon uses a deflationary tokenomic model which means that whenever a Safemoon transaction occurs five percent of it will be burned and another five percent will be redistributed among the remaining token holders.
Thus, the total supply of tokens should continue to decrease, providing a secure profit.
- Kishu INU
Kishu Inu is a decentralized cryptocurrency that seeks community participation and rewards its holders. 2% of every transaction on the network goes to the holder, which stimulates ownership of the coin. He burned his liquidity tokens, which is a common occurrence in cryptocurrencies, to increase the coin's value.
The Kishu platform has a decentralized exchange with exchange functionality for any ERC-20 coin. In line with the platform's goals, the exchange, dubbed Kishu Swap, will be critical to the expansion of the Kishu platform. It also hopes to provide its users with more features while building a stronger community.
The coin debuted on the cryptocurrency market in April this year and was developed by a team of two. Kishu-Inu is currently hoping to catch the attention of the cryptocurrency world, an important step in increasing its popularity. In addition, it pays significant attention to the development of its community, which is the main function of the coin and its platform.
The KISHU token has 1 quadrillion coins circulating in the market and has become a rarity in the cryptocurrency world. The coin hit an all-time high of $0.0000002 in May, doubling shortly after launch. Analysts believe that, with the necessary attention, the cost of the Kishu Inu can exceed $20. In addition, its unique nature eliminates the fear of inflation that is inevitable in the financial world as a whole.
The past two months have been a roller coaster ride for KISHU investors. With token prices experiencing a parabolic rise in October, and then, in the same spirit, token prices dropping in November. The token price is down about 72.7% from its high and is approaching a significant support level. Can the bull turn things around?
The price of the KISHU token increased in October when the price of KISHU jumped by 2,000% to reach the highest price of $0.00000001. However, the token price started to drop more than longtime traders expected, indicating a strong reversal to the V-shaped top and for now the price of the KISHU coin has been dropping at around $0.000000002239 trying to hold above this level. This level of support is very important for crypto traders because it overlaps with other important technical levels.
In my analysis for this year, in general it is possible that at the beginning of this year there will be price correction on the market where market prices will stabilize in the next few months. My prediction is that the price will increase again in the middle of this year.
As for Kishu in terms of price, the Kishu Inu has tremendous potential to reach new heights. KISHU value is predicted to increase. The value of the Kishu Inu is expected to continue to increase as scarcity tends to drive up prices. Please note that each investment carries certain risks. In investing in what you can do analysis first before jumping to any conclusions and do as much research as possible.
Finally, the incentive is an attractive option for crypto investors. Shitcoin may become available to more investors over time and more listings on centralized and decentralized exchanges. Amazingly, over time, the cryptocurrency world should be ready for great things from Kishu.
Shitcoin is a cryptocurrency with little or no value or a digital currency that has no immediately identifiable purpose. The term is often used to describe altcoins, or cryptocurrencies, which were developed after bitcoin became popular.
We can mark Shitcoin with a price increase that is too short and then followed by a very sharp price decrease that is all caused by investors who want to get short-term profits.
In investing Shitcoin only those who have a lot of experience and knowledge of what they do can make money with Shitcoin investment. You can recognize Shitcoin by its pattern. It is released in the market at a relatively low price. Then the price goes up massively and goes down after a few days. Not much happened after that.