Should I just sell my Dogecoin?



They are notoriously volatile and account for most of the new cryptocurrencies in the market. The term shitcoin highlights this trait, as projects like Shiba Inu have famously pumped and crashed in the past. Elon Musk’s tweets have been known to disrupt cryptocurrency markets, creating both rallies and huge sell-offs, after he lends public support for or lays criticism against, various projects. Musk also shares his thoughts on Bitcoin regularly using Twitter, like announcing in 2021 that Tesla bought USD $1.5 billion worth of Bitcoin. Shiba Inu is an ERC-20 token built on Ethereum that’s reported to be 100% run by its community. For every cryptocurrency, there will be a debate over whether or not it’s a shitcoin.

The price can suddenly spike overnight and fall back to below zero as investors rush in for short-term gains and dump the project mid-way. For instance, Jacob Martin created the coin called shitcoin and released the project on December 20, 2021. While it is not considered a serious project in some quarters, it still serves as a digital currency. It was available on pancakeswap as a token after the presale. Shitcoins are unique in the way they are traded, despite some projects' striking similarities. Shitcoins like baby shitcoin are a good example of these projects' uniqueness.

Custodial brokerage accounts for kids — because it’s never too early to start saving and investing. Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks. Daily cryptocurrency news digest and 24/7 breaking news alerts delivered to your inbox. They can be a copy of another well-known coin or they can be a brand new project.

The key is to recognize shitcoins that have potential and invest in them early while they're still relatively cheap. The demand for cryptocurrency is driven by many different factors. The more utility the coin yields, the higher the demand for it is going to be. For instance, Bitcoin is perceived as a good store of value and a medium of exchange.

Furthermore, this metaverse has a play-to-earn feature, allowing gamers to play and earn the crypto token. Tamaverse allows users to create a virtual pet, train it, and compete with other pets. Their winnings and activities can lead them to earn Dogecoin, which can be exchanged for Tamadogecoins. Cryptocurrencies that have poor transparency initiatives are more likely to be shitcoins. For example, if the founders are anonymous, lack successful and real experience in crypto startups , it’s a red flag.

There are exciting possibilities out there when investing in cryptocurrency, but this isn't one of them. Stick to serious projects that are aiming to solve real problems. With joke tokens, it's only a matter of when -- not if -- they'll collapse. It's one of those cryptocurrencies where the name is pretty much the only reason it exists. There's nothing it does differently from thousands of other crypto tokens, so the only reason to purchase it is the fact that it's called Shitcoin.

Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. The rewards are sent to everyone who holds BBYSTC tokens in their wallets. The 1% for development is sent to the wallet of Shitcoin's founder, Jacob Martin, who goes by Shit-toshi online.

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