How to Know if a Shitcoin Is Good or Bad
In the last year alone, cryptocurrency investors have lost almost $100 million at the hands of exit scammers through various projects promoting their shitcoins. During and after the recent bull run of 2020–21, the cryptocurrency market has matured to attract institutional investors across the board. But the shitcoin saga hasn’t slowed down a bit.
If cryptocurrency’s history has taught us one thing, it’s that every bull run brings along a shitcoin season with various pump-and-dump schemes, exit scams, rug pulls and get-rich-quick cons that deprive investors of their hard-earned money.
However, some shitcoins manage to produce phenomenal short-term returns. Perhaps the most famous example is the memecoins like Dogecoin, a Twitter-fueled shitcoin that rallied over 12,000% this year. This guide will discuss shitcoins and their history, ways to identify them, and whether or not they are worth your investment.