Today i am going to complete the Home Work Task of Season 5 Week 8, and task is Related to "Shitcoin and How to Get Profit from It" given by the Professor @nane15.

Question# 1

If we look into the past in 2009 when Bit coin was first made and introduced in the market then the concept of Crypto currency was new to everyone and no one wants to believe on such currencies every one thinking about these are just like crap and wastage of money to trust on such crypto coins. But gradually bit coins demand increased and now we can see this is most powerful currency of current time.

I the start Bit coin was alone but as the passing with time there are a lot coins have developed now and people are doing trade in these coins but there are less number of token in which usually people want to trade on the other hand mostly crypto currencies are still understand as the crap or useless to use. In actual these crypto coins and currencies are shit coins.

As the name is describing it Self Shit Coin, usually we use the word of shit for the crap things and useless things, which have no value, and having such things is just crap or wasting the time, same like as the currencies which have no value can be said as the shit currencies and in the case of digital currencies it is said as shit coins.

This is just for everyone’s understanding that we call these coins shit coins otherwise these coins said to be shit coins in the comparison of BTC and Etherium which are more powerful coins.

We can easily identify the currency as shit currency on the basis of these terms.

1. A shit coin can be defined as such coins which have no open and declared ownership and support facility.
2. Shit coins most of the time ranked on below levels on market capitalization. This is major sign of identification.
3. As shit coin have no declared ownership their token holders always less in numbers but actual number of tokens would be very large. Mostly token holders would be unknown.
4. Shit coins would not be listed on top ranked exchanges like binance etc.

Question# 2

In my point of view the answer is 50 50 percent there are both possibilities are there profit and loss, and ration is 50% of each but if we see the Bit coin which was also a crap at some point is now the king of market so my vote is Yes I think we can make profit from the Shit coin by the proper planning and market research.

And now there are some shit coins present in the market which made very large of profit which is beyond the expectations. For example Shiba Inu coin which was also said as shit coin. But on the other hand frauds and loss also present there which have done by these shit coins.

We can make profit from the shit coins also by the proper market research and coin identification. And we can identify the coin by these parameter.

1. By making sure that coins have listed on reputed exchange.
2. By making sure proper declared ownership and media team presence of coin.
3. By making sure the token holders are not fake and the supply demand of token is good.

Question# 3

Advantages Of Investing

☑ Shit coins may returns a good ROI as we can see the example of Shib Inu.

☑ Shitcoins are more cheap rates to invest in as we can buy easily and these coins ROI rate is tremendous sometime 10 times greater than investment.

☑ The price of shit coins increase in less time because demand fluctuation is high in this case so we can make profit easily.

☑ As the rates are to low we can buy millions of coins and due to cheap rates we can sell easily risk factor is less.

Disadvantages Of Investing

❌ The main disadvantage is these coins are short term, mostly like gambling.

❌ In some Cases ROI are very high but mostly not return the expected profit.

❌ Profit and Loss are part of trading but in this case chances of Loss are very high.

❌ Shit coins are not much stable coins in the market and mostly uses in the scams so high chances of frauds are there associated with shit coins.

❌ These are not listed on reputed exchanges as very difficult to trust on them.

Question# 4

There are a lot of coins as example we can quote here which are involved in million dollars scam and people lost their hard earned money in the scams. In the trade market loss is not the big news for investors but the scam is not bearable because of such news many new investors loses his hope and they feel not comfortable with such trading.

OMICRON TOKEN (OMIC)

This coin is created by the inspiration get from the killing virus Corona virus’s new Variant Omicron which is identified in the Africa region and this most sever variant of Covid 19.This token is not so familiar and famous and only listed in single exchange now.

When this token first introduced it was trading between 50 to 70$ but as the new variant of OMICRON confirmed officially this token prices gone up and in December 2021 it reached on 700$ peak but now the trading price of this coin is 15$ according to CoinMarketcap.

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Baby Doge BNB

This coin is named as same the coin dodge and before it was listed in the exchange the fake news was spread in the market about this is child of dodge coin and it comes under the influence of the dodge coin. So many people started invest in this coin as after it involved in the scam. All the tokens was holed by the single wallet in the start which was alarming news and people who invested in it did not do proper market search and investigation before investment.

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SQUID2 (SQUID)

This shit coin also introduced in the 2021, and the idea was taken from the web series names Squid games a Korean series. This coins also got fame due to the killing in seasons. Many people invested in this token and its demand was increased at the time but after that it involved in the scam and main developers took all the money and ran away.

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Question# 5

Safemoon

Safe moon is the also the shit coin which is first introduced in the march 2021, and that time it was ranked on #207 in CoinMarketCap with the capitalization of 1.2 Billion US Dollars which really huge amount. At that time it was said to be shit coin but it proves that it is something extra than a shit coin and people who invested in this coin enjoyed a lot of profit and the price of this coin remains stable for a long time.

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Floki Inu

This coin also said as Shit Coin when it came to the market, this is successful shit coin which was named on the name of pet puppy Floki, of Tesla Owner’s Elon Musk. The current value of this coin on today’s price is $0.00007232 and this is on 2841 ranked on CoinMarketCap.
Owners team of this coin have planned many new projects in the future like NFT gaming and Matavers NFT gaming. Which is showing if these projects will get success in future then the price of this token will definitely goes up and this would be safe investment.

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Question# 6

In the last question i choose the Floki Inu token and by the analysis of its price chart which is given below I made and assessment on its price fluctuation for all the time. This coin have improved itself really well in past few days.

Most of the time we see many people just invest in such coins on the basis of their trust and affiliation of some start and celebrities. Like in the opening price of this toke Floki Inu was around $0.00000002 as at August 2021, and after few days it reached on its high price which was $0.0003437. The main reason of the price was that tweet of Elon musk which was related to his dog which was the reason of this high.

This is same like some time before Elon tweeted about the BIT coin acceptance which was also a cause of its price increasing.

The highest price was on the 4th November 2021 and after that a bearish behavior shown in its price to till date. But this bearish behavior not to high.

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Question# 7

From the previous analysis of the token we can see that the fluctuation of price is normal according to the market trends and Bit coin fluctuation. This is not fake fluctuation which may leads towards the scam and other fraud.

As I mentioned earlier that floki Inu on the name of the Elon’s Puppy so this is clear that the owners and team behind the coin is a large group which have more plans in future like NFT gaming which may be the cause of increase of this coin.

Additionally, the price is consolidating in a strong support zone. So, there is a strong confluence to bullish trend so technically we can deduce that the price can bounce and start an uptrend with momentum.

Furthermore we can see that the price of Floki is in stable mode not more fluctuations can be seen since its launch time which shows positive sign also.

At the end of the topic I want to conclude my topic with the advice that shit coins comes with high risks and before the investment we should perform proper market study and research. Shit coins have no purpose and mostly use for the scam and frauds. But on the other hand some shit coins also there which are really beneficial for the investors but again the proper market study needed we should not invest in the market on the basis of emotions and affiliation with others.

I hope I would get some good remarks from professor on my effort.

Note : All screenshots are taken from tradingview.com and coinmarketcap , all the Images that i have used have been citied and source have given with every image.

Cc :
Professor:
@nane15