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What is Shitcoin?

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Suba

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What is Shitcoin?
Shitcoin is a way of grouping or identifying a cryptocurrency that has a weak fundamental foundation and its price is highly volatile.
 
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Most shitcoins are characterized by having huge supply, in billions or even trillion. They are usually pump and dump coins, but people get crazy rich if they are lucky to buy low and sell at the right time.
 
Often, Shitcoin is used to name a cryptocurrency that have no use case. There are numerous shitcoins in the cryptocurrency space, but keep in mind even big exchanges have shitcoins that people can trade as much as they want.
 
Shitcoin is a term given to meme coins. Until recently, people were calling Shiba Inu a shit coin but the coin has shown to be resistant and is still one of the top coins by market value even during this bearish season.
 
Nomad said:
Shitcoin is a term given to meme coins. Until recently, people were calling Shiba Inu a shit coin but the coin has shown to be resistant and is still one of the top coins by market value even during this bearish season.
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You have a very good point because the shitcoin are coin with not special purpose and a typical example of that is DENT , Dogecoin etc.
 
Flower said:
You have a very good point because the shitcoin are coin with not special purpose and a typical example of that is DENT , Dogecoin etc.
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People are calling meme coins shit coins because these do not have known value. However, the value of any coin is based on the idea that what people think it to be.
 
Nomad said:
People are calling meme coins shit coins because these do not have known value. However, the value of any coin is based on the idea that what people think it to be.
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This is why the value of any cryptocurrency depends on the mindset of its users. If crypto users believe in the coin it will definitely rise in value.
 
A "shitcoin" is a term used to describe a cryptocurrency that has little to no value or utility. These types of cryptocurrencies are typically low-quality
 
Etini said:
A "shitcoin" is a term used to describe a cryptocurrency that has little to no value or utility. These types of cryptocurrencies are typically low-quality
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That means a scam crypto project that appears suddenly increase to 10 times value then disappear from the market after a while.
 
Suba said:
What is Shitcoin?
Shitcoin is a way of grouping or identifying a cryptocurrency that has a weak fundamental foundation and its price is highly volatile.
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I really do not like to invest in shitcoins. I will rather invest in a normal cryptocurrency
 
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