Sh!t coins pumping 10x, 20x even more....

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There is phrase going around the crypto space. "ALT-season has just started"! BTC dominance made a huge impact in the crypto market. Which was definitely a positive info for us but as well it defines how volatile the market was if BTC swings the mood once in a while. Which eventually led the market to the peak and the other way around as well. While I am writing this post the BTC dominance is around 56% but still when you see the market it is positively standing without making any negative difference. Which is impressive and seems like the Alt season is just getting started and the impact on it can be seen in the price of the coins and how they are making a move.


Keeping that in mind, the recent surge of few SHIT-coins is flooding the market. I personally do not invest nor do I look at them, neither I am aware what they are upto. But the phrase of altseason has started kind of gets me most of the time. Which is why, I have been looking at few shitcoins and putting some money in them just in case shit takes places. Which precisely gives the idea of investing as much money as I can afford to loose.


Safe Moon


All this happened due to Youtubers which I follow and how they tend to make a FOMO and push you to buy it. But like I said these are shitcoins which has a high risk of making your money go in vain or even loose them at any time. So I got in on this with only 100$ and I literally was not convinced about the project when it launched. As it was like a kids website and everything they said was literally just few promises, which will be completed in near future. Two things which I liked about their token distribution was

  • 5% fee = redistributed to all existing holders
  • 5% fee is split 50/50 half of which is sold by the contract into BNB, while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.

So every time someone makes a successful trade my portfolio increases. I liked that idea ;) but still I was not satisfied with that and kept an eye on them. The chart seems very nasty tbh. It is like being pumped and once it reaches a certain point boooom, dump happens. A 12 hour chart is given below.


AGC.png

Link to the chart if you wanna look at it. Here

There are plenty of new tokens aka shitcoins are coming to the market and from what I can say, this can make you crazy rich or they can loot you in ways you can not even imagine. For starters if I would have got in on this one when I heard about it, I could have easily made 10-13x of my investment as of today. I did my own research and waited for it to a go to a decent phase where I could at least clear my doubts and than enter.


There are plenty other forks happened and even new coin coming with the same formula of giving the share to the users and also providing liquidity to Uniswap from the conversion but the fact is, how many of them will actually last in the long run or will they even see the light at the end of the tunnel.


My strategy


My initial invest was $100. My plan was as soon as it reaches mu initial investment in terms of profit, I will take the money out (my profit). Which I eventually did. And look out for another shitcoin which I can put that money into. As you never know which one will go kaboom. So if I do that my investment would be $100 but my assets would increase as days keeps going. But even amidst that I lost $100 in one of the coin. As it was a complete nonsense and boom my money gone. My current portfolio is around $400 but this money can go kaboom at any time, even when I wake up tomorrow morning they could be turn to null and gone ;) As I said, I have withdrawn my $100 and these are just my profits which are being used as of now.


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Image source


Which is why I do not suggest anybody to get into these coins. As we have much more appreciable coins which are doing amazing and we can make genuine profits from them. So this post is just for fun and not any kind of financial advice. DYOR!



Best regards
Rehan

Posted Using LeoFinance Beta



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7 comments
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When the shit coins start pumping prepare for a major sell off

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Yup, whatever goes up shall eventually come down. In this case it will be a massacre when the sell off happens.

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Good strategy, I like to do that, there are certain coins that I buy and sell at what I make a profit, holding them too much is risky.

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Get in and out ASAP from these coins that is what matters and along that road make some quick cash ;)

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Hi @rehan12 ,
we are in a rising market and this is making many coins have an impressive value, I see with concern that many projects do not have viability in time and yet people invest everything they have is a real madness makes me remember 2017 and all the ICO that ended very bad

I'm promoting That curation trail on HIVE and it would help me a lot if you forward it, You can also check it yourself: you might find it interesting to join, I'd love to hear your comments.

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