What is ShitCoin? How to recognize ShitCoin?
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Assalamu Alaikum
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But if you look at the volume and marketcap of that coin, you can see that it is very limited.
Then if you notice this coin you can see -90%/-98% down after few days,
What is the way to recognize Shit Coin?
First go to these sites Coinmarketcap /CoinGecko and you need to know the details about MarketCap, Volume, Market of the coin you want to know about.
Marketcap means the total price of that coin, for example, the price of a coin is $1, the supply of the coin is 1M, the total number of coins in the market is 500K, then 500K × $1 = $500K, then the marketcap of that coin is $500k, in the future, more coupons will come to the market and the coins marketcap barbe,
Most Shit Coins have a marketcap of $10M/$20M,
So it needs to be noted,
It is very important to note the volume of 24 hours, Volume means how much trade has been done in 24 hours.
Then how are they listed in the market, most of the Shit Coins are listed in the bad market, then they stop the deposit withdrawal in those markets and buy a large amount of coins, the price of the coins is increased intentionally, then they sell their own coins and run away.
Many trading signals do this scam, they first buy that coin at a low price, then they give a signal to buy that coin, then when the price increases, they sell the coins they have in the market.
So analyze yourself from Top 100 coins and invest.
And see if there is this coin in big markets, because bad coins are never listed in big markets.
And visit their social media to see if they are regularly active, what updates they are coming up with, what they are working on, know everything.
This is the end of today, everyone be well and stay healthy, Allah-Hafez.
https://twitter.com/RakibInsid68546/status/1787650268701565182?t=r_4IP24Zh601wJhObbJO1A&s=19
This is a comprehensive guide on identifying and avoiding "Shit Coins" in the cryptocurrency market. I have some in my Trust wallet lying worthless at the moment. Truly, it's important to research market cap, volume, and market listings, as well as social media activity and updates. This can help against falling for pump-and-dump schemes.
We need to ever stay vigilant and informed in the ever-changing crypto landscape. Thanks for this. It really helps.
Great content from you, indeed knowing shitcoin is really one thing but some after knowing it still willing to gamble with the risk, well that's a personal choice, it's good we recognize the dangers associated with this mind of coins. Appreciate your content.
thanks for support
Shared a great post on what is shitcoin and how to recognize it. I had no idea about shitcoin. I learned a lot from your post. Thanks for sharing such a helpful post.