If you like adventure movies about treasure hunts and are interested in cryptocurrencies, then the 100x coin theme is for you. Here, potential profit is combined with healthy excitement, which does not contradict any law and exists exclusively at the level of human mentality. But is it possible to find these mystical coins this year and how? Based on my own experience and observations, I offer my view on the situation. Let me remind you that this is not economic advice, but purely my own thoughts and strategy, according to which I would act myself.
100x coins: myth or reality?
Today, tokens that have increased their original value by a hundred times or more have acquired a semi-mythical status and are perceived as something paranormal. Although earlier this was a common occurrence and the limit of one hundred times, or 10,000%, was crossed quite quickly and casually. Like everything in the world of cryptocurrencies, it started with Bitcoin: from the initial value of $0.0025 in 2010, the coin became 100x already at the beginning of the next year. And by the end of 2011, Bitcoin became 400x, because for the first time more than $1 was offered for the coin. At its past peak of $65,000, BTC can be considered a 26,000,000x coin and is currently the absolute market cap leader.
Thus, the history of Bitcoin is more the exception than the rule, and later in history such large-scale examples did not occur. That's why cryptocurrency owners have started coins, the success of which is 100x+ in a less short period of time, say a year or maybe two. Over time, it became a real trend and even a kind of entertainment among traders: to see a promising token, invest in it and multiply the investment a hundred times — what is not worthy of fun? But it is not so easy to do this and for the past year 2023 there were no more than 65 such coins in the world. The forecast for the current 2024 is even less optimistic, but the search for "treasures" continues and is gaining more and more attention among users.
Scam, hype and reasons for the failure of many projects
Any "hot" topic almost instantly attracts swindlers who want to make the most of it. 100x coins are no exception, so this phenomenon gradually acquires more and more negative color than practical benefit. To begin with, you should understand why "before" there were much more such tokens than "now" and why today investments in "loud" projects can cost you all your savings.
So the Bitcoin I already mentioned was the first. It was this cryptocurrency that set the rhythm and tone for all subsequent projects using blockchain technology. So whether we like it or not, the price of Bitcoin will always affect the rest of the altcoins. If BTC rises, its successors will also become more expensive, but not as quickly. And in the case of a collapse of the exchange rate, the value of other cryptocurrencies will "fall" tens or even hundreds of times faster. This is a modern axiom that should be reckoned with.
Accordingly, electronic assets striving for success today must not just exist as a phenomenon, but create a special value that will directly affect their value now and in the future. Most scammers trying to get rich on the topic of 100x do not pay attention to the value, but appeal to the emotions of people with extra money. Their main tool is hype, which is supposed to make people feel FOMO. Such a scheme requires investment, but in all cases it works the same:
● We invest resources in ICO and marketing;
● We create a believable image of future success;
● We attract investors and promise a cash cow;
● We collect the profit and close the project.
In general, this is how any scam projects work, but in the case of the 100x theme, this very lure is used here. The uproar surrounding such scams does not last long and usually falls on a period when there is an excess of money on the exchanges, for example at the beginning of a bull market. Without the extra money that people are willing to invest in entertainment or experiments, such projects simply will not survive. The other extremes are stressful times of great upheaval, when you can try to give people hope for a quick increase in funds. Although this strategy is more risky for scammers.
However, it cannot be said with certainty that all 100x projects are scams. In fact, many really good startups that could have surpassed the coveted mark failed due to other reasons: errors of the authors, competition, force majeure, etc. It is also of great importance in which direction of modern technologies value is created. Today, these are Metaverses, artificial intelligence, Layer 2 cryptogames and others. Projects focused on these areas have the potential for acceleration.
Where and how to look for "treasures"?
As you can see, 100x coins are not fiction at all even today. However, the probability of their appearance has decreased tremendously. For confirmation, let's take the statistics of 2023 for the Top-300 coins with a positive market capitalization. Among us, as I already said, there are 65 coins of 100x. Thus, the probability of getting 10,000% profit is 32.5%. However, at the beginning of the current year, we observe an increase in the value of Bitcoin and the forecast for 100x coins is reduced to 10%-15% of the same Top-300 list.
In the worst possible investment scenario (I am not taking into account the one where all options are losing), a trader should be ready to make an equal investment in 100 cryptocurrencies and lose in 99 cases. However, the profit from 1 successful deposit will cover the cost of the rest and bring profit.
To increase the probability of finding exactly that 100x coin, I personally pay attention to the following indicators:
● The token should be released after July 2022. It was then that Bitcoin completed the largest decline in history and began the journey "to the moon", which it is still on. So all previous altcoins are likely to continue to catch up with BTC by inertia and are unlikely to be able to surpass their own capabilities;
● The offer is not traded on DEX, but on CEX. Although this is not the most important condition;
● I pay attention to the direction of the project and its values. If token authors feed us promises and vague wording instead of concrete explanations, such coins should be avoided. Not only will there not be 100x here, but in general, a complete loss of the deposit is possible;
● I pay attention to the economic indicators of companies or teams conducting ICOs or promoting existing coins. Their costs and counter-investments should not be too high. For the token to take off, a financial base is needed, so reinvestment in no way plays in favor of future success;
● Too expensive offers are unacceptable for me. The higher the current value of the token, the more difficult it will be to multiply it in the future, especially by 100 times. On the other hand, it is much easier for cheap offers to gain value and achieve the desired indicators;
● In the end, I believe in 100x coins, but I also believe in the worst investment forecast. Therefore, I always try to diversify my investment activities and never invest in just one single project.
Epilogue
Last year did show a reduction in the number of coins by 100x, and some projects, like Solana with 0.9%, did not live up to even the most optimistic hopes. At the same time, there is a Bonk coin that has almost reached ¾ of the required level and had the highest level of capitalization, the RATS project is actively developing, and coins related to Artificial Intelligence technologies are gaining popularity. I repeat that this is not investment advice, but I would like to offer a completely friendly advice of a different kind: never fall for the lost hope syndrome, which 99% of the time leads to a loss of capital. I hope you found it interesting. If so, please like or share this article.
