Just Say NO to Poo-Coins
It’s such a crazy phenomenon to see Shib (Shiba-Inu) so high in this chart. A ranking of #15 today according to CoinGecko. I would expect any new crypto investor to start learning about what a market cap is within the first few weeks/months (based on the individual) of their crypto education. Knowing even a little about market cap and applying that knowledge to Shiba’s crypto coin stats aught to be enough to send any potential investor running for the hills.
To me, this mass adoption of a token with such return-prohibitive fundamentals suggests that people are just arbitrarily buying in, “wishing” for a return, based on nothing more than the low price per token. To me, I see this as one of the biggest socially driven FOMO fleecing of the general public in history. What’s worse is that ironically, the mass “Auschwitz-train” of new adopters of these trash coins actually causes the price to rise just enough to proliferate this mass delirium and snowballs adoption from even more newbies wishing on a star. The lesson is only truly learned when the price comes crashing down, yet the cycle starts all over unabated with an entirely fresh group of recruits. Hence the adage, “a sucker born every day”.
It is sad to me, as there are incredible crypto projects out there that if they received the same adoption as the trash coins, would bring forth incredible returns and empower the project to form more powerful partnerships and develop more use cases and utilities which would precipitate even further profit for all who were invested.
I wish there was a way that I could convey to the world in layman’s terms just how much blind adoption it takes to raise the price of these “poo-coins” (the industry word is a bit stronger, referring to coins/tokens with little to no use-case nor utility with inconceivably large token counts and market cap). I understand that it is difficult for most people to fathom the difference between billions, trillions and quadrillions, yet it is essential to try to wrap your head around the vast difference of these numbers if you are to invest in crypto.
Pro tip: Do a little research on what makes a good crypto project. Here’s a great little video from one of my mentors:
There are many crypto projects out there trying to change the world for the better, striving to bring real utility, security, and financial autonomy to the world. I suppose my point is, try to be a part of the solution not the hype. In the long run, just a little research will do you, your wallet, and the world a lot more good than just “aping-in” (pun intended), on the cheapest poo-coin you can find in hopes that it’s “low price” will go up. cryptocurrency ROI simply doesn’t work that way.
Not financial advice. Never risk more than you are willing to lose. DYOR.
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