WHAT IS A SH*TCOIN?
The cryptocurrency market is complex and unpredictable. I looked at $ORN Square and many people said that it's a sh*tcoin. But let's be fair, is the coin is a sh*t if its price suddenly down?
Well, large and persistent price changes may indicate that the coin's market is susceptible to manipulation. Be careful with that! However, there are times when the market is volatile due to many other factors, not because that coin is a sh*tcoin.
$BTC , $ETH are considered good coins. If you bought BTC at $69K and the price suddenly down to $66K two days later, then is BTC a sh*t? Clearly not. But because you made the wrong decision.
You should avoid these types of coins:
👉 Pump-and-Dump schemes: a new coin is being heavily promoted on social media platforms could potentially be part of this type.
👉 Dev team owns too large amount: the market could be manipulated.
👉 Unknown coins: be careful with coins have a little information available.
By definition, a sh*tcoin can mean obscure coin or one of types above. In fact, meme coins are considered as sh*tcoins although the profit made from memecoins is not too bad so far. But don't bet all your money to it.
Remember, it's crucial to do your own research and understand what you are investing in. 💥You should only invest money that you can afford to lose.
In your opinion, what is sh*tcoin? Do you have any coin in specific so that people can avoid?