Things to consider before investing in meme coin!
We are constantly buying different types of cryptocurrencies on different exchange sites hoping to make a profit. Some of them bring us profit while many become a major cause of our loss. Because we make mistakes to buy coins or tokens. Also, we are often wrong about when we should be in the market. However, although some coin strategies can be adopted or bought by analyzing candles, there are some coins that you can never analyze with candles. One of these coins is Meme Coin.
We see many meme coins in the market that bring good profits. Such coins are tempting. I think they are a lot of cheating traps. Except for a few meme coins, most coins will either make you a profit or drain your balance to zero. As we see many meme coins on MEXC global exchange site most of which are scam traps. As I introduce to you a coin, $sai was listed on this exchange site some time ago. It was rising to $2.349 on opening day but then its current market price is $0.000010. It was listed on 19th of last month.
Now think about how much your investment can go down at the current market price if you enter the market for one dollar through this token. Which is really disappointing. Honestly many people are constantly falling into such scams and losing their investments. Because when such tokens go down, they go down so much that it drops 50 to 60 times in value. Which is very sad. If you look at such exchange sites, you will see that many points are constantly entering the market and many coins are leaving the market. And these coins after being in the market for a few days get out of the market with their own profit. So I think they are one of the biggest traps of cheating. Who get out of the market by grabbing investors' money.
Be careful if you invest in such tokens. Also you need to invest a very small amount. Otherwise, they can collapse at any moment. And also you have to do dollar cost averaging otherwise you will never get out of this market with profit. Rather such tokens may take 50x or 60x from you, you may get double profit. Sadly, this is the truth and this is their motto. When we see such tokens increase by 200 to 500% we get greedy to invest in them but don't imagine how many thousands of percent it has come down to this level. So beware of such tokens.
Thank you, friend!
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Very important speech about meme coin. Cryptocurrency Market is very risky.
Yes. Crypto market is not easy everyone. Thanks
very useful, thank you for sharing useful knowledge and knowledge
Thank you too....
We invest our hard earned money on any instrument with expectation of returns but investing on meme coin is something that comes with the higher risk. I think we need to be careful while investing on meme coin projects because the probability of risk is way higher as compared to other projects that have got some utility in place. Agree that we need to be careful when we invest in such tokens because it is risky however investing with the small amount that we can afford to lose can be a good idea.
Such coins are very dangerous. So we should move on from buying them.