Should You Invest in Shitcoins?

[Shaf]

People have made mad money from shitcoins in the past year. And many have also lost a lot of money to them.
Did you ever invest in shitcoins and make profit from it?

I was on the verge of buying Dogecoin but I didn't because I felt it was a meme coin without value. A few days, Elon Musk started promoting it. I also missed out on the run due to fear of FOMO. People had lost money on it trying to catch a move up after breakout.

Others came after it with Shiba Inu showing much success and even being listed on Binance. Some flopped badly and some were rugpulls.

The latest is Luna classic, Lunc. This may probably create more millionaires than happened in the bull run. Like Shiba Inu, Binance has shown special interest in it but burning all transaction fees associated with it's trading. This will create scarcity. The community has also created an address that people voluntarily send tokens to to be burnt.

Another interesting one to look at is baby doge. With the interest that Doge has, this coin is likely to blow too.

 

[Kennysplash]

I think this is a matter of personal decision. There are times when shitcoins boomed and proved to be a great source of income for investors. There are other times as well when it was a great loss. So whether to invest or not is left to individuals to decide. I have invested in shitcoins in the past and it was not a good investment for me, so since then I have made up my mind never to have anything to do with shitcoins again. I don't care about the hype, I just pass. But some people are actually finding them to be good investment, it's like their specialty. Everyone with what works for them, hence it's a matter of personal decision.

 

[Finger Geek]

I was on the verge of buying Dogecoin but I didn't because I felt it was a meme coin without value

Who says that dogecoin is just a meme coin with no value. I must ask this question, when did you start to follow cryptocurrency? Because if you have been following cryptocurrency, you will know that dogecoin has value and it is a coin that you can invest on. I could remember when the price of 1 dogecoin was very small. Those days you can only get 10,000 dogecoin for $2 but last year the price suddenly moved from $0.002 to $0.67 before the price declined. Then I would have turned my $50 worth of dogecoin to $3,500 worth but I was unlucky to have sold it before then. So are you now saying that it has no value.

I would advise you to put dogecoin to one of the coin that should invest in. Also binance coin is the only coin that has been doing well in recent time with it's price. Because the rate as which the price declined is less compared to every other coin.