Recently, I saw many people in the square buying small neiro and squirrel pnut and getting stuck. Many are averaging down and losing a lot, and I might have to pour a bucket of cold water and advise you to stay away from these coins.
$NEIRO has dropped more than 60% from the highest price of 0.0031 in November.
$PNUT has topped today's decline list, dropping 47% from the December high.
These types of coins have a characteristic: they peak upon launch and surge all the way.
Squirrels once tripled in a single day.
Neiro once surged when the market crashed, increasing tenfold in just two months after launch.
Such a surge can easily excite people. Many firmly believe that these will continue to rise sharply.
But often things go against expectations. When you think it should rise, it starts to decline slowly.
You can consider it a washout, or say that the market is not good, but what cannot be denied is that someone has been offloading. Otherwise, why does it keep falling?
These types of coins have a characteristic: they are very popular among retail investors and have high visibility.
This means that many retail investors will be optimistic, continuously averaging down their costs, waiting for the squirrels and neiro market makers to pump.
Can you imagine how much stock they have? Can you imagine how low their costs are?
From the perspective of institutions, through continuous washing, they wash out all retail investors until they can't stand cutting losses, which can yield good returns.
Imagine, if all other coins rise, but the ones you bought do not, can you endure missing the entire bull market because of that?
Therefore, from the perspective of ordinary retail investors, one should stay away from these new coins.
