How to identify a coin with good future potential

[Sotherefore]

A lot of cryptocurrency are circulating around the crypto space, some do not have anything to offer and because of this they may not likely be able to reach a certain price, most cryptocurrencies that doesn't have anything to contribute to investors are likely to fade away since investors will abandon it and turn to those with good future potential , everyone believes that those with good future potential are likely to be valuable in the future.

However the valuability of a cryptocurrency will always depends on what they have to offer i.e the problem such cryptocurrency is able to solve , but there are other things we should look for when we are determining the best cryptocurrency to invest , which are as follows

1) FUTURE PLANS AND DEVELOPMENT: A potential cryptocurrency will always have a lot of future plans on how they can make the cryptocurrency the best for investors, TO KNOW the future plan of a cryptocurrency it is always advisable to follow them up on their social media pages as they are likely to discuss it there

2) THE STRENGTH OF THEIR ONLINE COMMUNITY: This is something we needs to pay absolute attention to, whenever we are investing in a particular cryptocurrency we need to understand that a cryptocurrency with few or weak online present are not likely to be the best option, the strength of a cryptocurrency's online community might indicate positive acceptance by everyone.

 

[Skysaint]

You're right about what you've said. If am not over exaggerating a fact, I would say that new coins keep emerging in the cryptocurrency space on a daily basis considering how the market is flooded with it. This actually some times makes me wonder if there's no regulations to this or the cost of developing and launching a coin is a negligible price.
Anyway, I do have a way I can check out for the potentials of a coin. One is determining it's use case in the cryptocurrency market, just to make sure that it's not a shit coin or a meme coin that is mostly characterised by pump and dump action by the whales.
Secondly, I look at how popular the coin is in the cryptocurrency market and the reviews people hold on the coin. For example, Shiba Inu coin actually started off as a meme coin but I had invested in it even then because of how popular it is and I can't say I didn't earn money from it.
I never judge a coin by it's past glory because like I said earlier, it might be a pump and dump action by the cryptocurrency whales trying to manipulate the market for their own benefits.

 

[Mika]

When they launched a meme coin called Shib INu, there was no well-laid plan. The coin gained momentum when VItalik Butrein received 50 percent of the total supply and burned 90 percent of what he received. The developer started working on the project and revealed a lot of plans, that's how the coin became prominent. A lot of coins have launched this we, they don't have any plans in the initial stage and gradually build the future plan. Thus, it is difficult to analyze coins on this basis. However, checking the popularity of the coin among the early adopter can help you identify a good coin.

 

[Suba]

To identify potential coins for the future, we need to pay attention to several fundamental factors, such as:
1. The origin of the coin (crypto), so you will know the plan and purpose of launching the coin.
2. Study the consensus mechanism used whether PoW or PoS, this blockchain mechanism can affect the popularity of a coin, because PoS is considered more environmentally friendly.
3. Study the market cap, so you can know how much public interest is in the coin.
4. Study the coin's price history, price change movements will form a trend, so you can predict the future potential of a coin, such as using trend lines, support and resistance levels and moving averages.
5. Visit Github and check if the coin project is running actively or not.

 

[saoussen5765]

You have to view if it is a meme coin or a serious coin. Alternativelly, if the coin maker has announcement of gender to increase * 10 announcement then be sure that coin will drop to 0 $ value after scam people money.