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Memecoins

Why Penny Cryptos are LETHAL for TradersCryptocurrencies are often likened to the Wild West. They are untamed, unregulated, and packed with potential riches. However, they are also fraught with hidden dangers and potential pitfalls. One such peril lies in the world of penny cryptos. They’re cheap, super volatile, and they attract the minds of those who want a quick fortune. This is similar to a gambling mentality. And You don’t want to go down this rabbit hole. Once you get in, you find every reason to hold. You build so much trust, prospects and hope with them. You might as well marry them and expect the inevitable divorce which will rob you of your money. Anyways, penny cryptos are lethal, and here’s why. #1: Huge Volatility with Major Fluctuations Imagine being on a roller coaster that has extreme highs and drastic lows. One moment, you’re at the peak, enjoying a scenic view. The next you’re plunging into a scary abyss. That’s the world of penny cryptos. Penny Cryptos are definitely like the wild wild west. They swing drastically in value. This is because of the low value of the currency. #2: Issued by Small Companies with Little Experience and Knowledge If the financial world was an ocean, penny cryptos would be the tiny, uncharted islands you might stumble upon. The kind of islands that do not inhabit life and have erratic waves completely wash over it on a sporadic basis. Well, in the deep ocean of crypto currencies, Penny Cryptos are these tiny pebbles. Most times they’re issued by small, relatively unknown companies. Sometimes they are issued by children in their parents basements. Sometimes they are issued by gamers who don’t want to work for a living. Sometimes they are issued by Only Fans sexy girls who flaunt their bits and believe their currency will go up in value (amongst other things). Anyways, Penny Cryptos (unlike Penny Stocks) lack the experience, credibility, intangible asset value and knowledge to navigate the tumultuous shitty penny cryptos. In fact, they call many of these Penny Cryptos Shit Coins – No joke! Such companies often struggle with regulatory hurdles, lack of funding, and poor management, making their cryptocurrencies extremely risky ventures. #3: High Target of Scams and Fraud and Even Ponzi Schemes Penny cryptos can sometimes be the financial equivalent of snake oil salesmen. Their low cost and relative anonymity make them the perfect target for scams, fraud, and even Ponzi schemes. And you know how messed up the world is and what kind of trash people there are. And so, they are Penny Crypto con artists who try to sell their shitty coins only to lead to either a pump-and-dump scheme. Or to fake an ICOs Initial Coin Offering) gather a whole bunch of money from investors, then make a run for it. Please don’t fall for these scams! #4: Illiquid and Low Volume Which Will be Difficult to Get in and Out One of the most lethal attributes of penny cryptos is their lack of liquidity. Liquidity, in the financial sense, is like the exit doors in a movie theater. The more doors there are, the easier it is for people to leave when the movie is over. In the world of penny cryptos, these exit doors are often few and far between. Due to their low volume, buying and selling penny cryptos can be incredibly difficult. If you’ve invested in a penny crypto and its value begins to plummet, you may find yourself trapped, unable to sell and cut your losses. And you’ll just be stuck in your trade for years on end, while it gathers digital dust. #5: More Likely to Hit 0 as They are Less Trusted by the Public Trust is like the foundation of a house. If it’s strong and solid, the house stands tall. If it’s weak or non-existent, the house collapses. Given the factors I mentioned above, should be enough to make you realise. Any one of these weaknesses with a coin, can lead to a crash down to 0. And believe you me, most of the millions of Penny Cryptos that are around today – will be nothing more than a remnant of a memory in the future.
Education
by Timonrosso
🚀GRIMACE to the MarsTake a closer look at $GRIMACE right now Short-term local forecast This trading idea is based on a commonly observed behavior of meme coins. After an initial surge, the coin tends to consolidate for a few weeks, undergoing redistribution and position accumulation. Here are some arguments in favor of the asset's potential growth towards the first target ($10): After trading in a deep discount zone, significant players start accumulating positions. We can observe a gradual reduction in local liquidity from decreasing lows. Referring to the basics of technical analysis: A Wyckoff pattern is apparent, with an UpThrust (UT) observed - a liquidity shakeout from the previous high. This forms new liquidity for further growth. Next, it is necessary to test the support in the form of an OB (Overbought) area. Here, a Spring will be formed - a local liquidity shakeout before mark-up. It is characterized by lower volumes, and the decrease to the specified values may take some time. Local reverse bull divergence and direct bear divergence in local highs indicate buyer weakness, providing another argument in favor of a short-term asset devaluation.
GLong
by glebeb
1
PEPEUSD: Hit the 1D MA50 again. Watch those buy levels.The memecoin PEPEUSD hit today the 1D MA50 on a historic first time. That is enough to turn the 1D timeframe neutral (RSI = 54.982, MACD = 0.000, ADX = 27.672) which means that the trend might be changing but there is no confirmation yet so we need to proceed with caution. We are willing to buy only above the 0.236 Fibonacci level or after a pullback to the 4H MA200. After all, we are forming today the 1st MA50-100 Bullish Cross on the 4H time frame. In both cases our target will be the 0.382 Fibonacci (TP = 0.0000022000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:PEPEUSDLong
by InvestingScope
8
$BTC looks good. Another $ call on direction. What now?CRYPTOCAP:BTC is PUSHING over 1k at the moment. #bitcoin volume is HEALTHY as well. We called the short term top BEFORE it happened. We called "bottom" BEFORE it happened. 28k is going to be tough but in my opinion it will eventually break. Also said CRYPTOCAP:ETH was waking up. Moving a bit last couple days. For some time stated that #altcoins looked weak. BEFORE all the fud. That's why, PERSONALLY, been doing mostly leveraged #BTC & #memecoins.
CME:BTC1!
by ROYAL_OAK_INC
MIMIR : MEME COIN THAT CAN SHOW VOLUME $1? long term This coin have low supply with max 100M further a coin that did breakdown before, and last times it seems that its making a new entry zone. We are following to see if this new zone can get volume, what will allow this coin to breakout. This week is an meme update week, this update should not be seeing as investments since the high risk of it. We just follow the trend of this meme coins with no further finance advice. ( the most risky coins in the markets are meme coins) High reward, high risk. The big question is this coin able to gain $1 long term with this supply its never good idea to invest fully on coins that are not known as this one. This is a high risk meme coin. This week sharing some meme coins that can move, more on study side, but it means not that it should happen.
Long
by Goldenbreakout
Meme coinsIntroducing Meme-Coin Perspectives: Discovering the Art of Folly. Are you familiar with the ubiquitous X's on Pepe, Doge, Shiba, and the like? These symbols have permeated the world of meme-coins, capturing the attention of many. Now, let's delve into a captivating speculative concept known as the "Big Fool's Theory." Picture this: you knowingly acquire something seemingly worthless, fully aware that a bigger fool will emerge to purchase it at a higher price. In simpler terms, you anticipate someone eagerly buying an unnecessary wrapper at an exorbitant cost. What lies in store for those who embark on this venture? The allure stems from witnessing numerous individuals amassing fortunes out of thin air. As a result, a fiery blend of FOMO and curiosity engulfs the hearts of onlookers, compelling them to impulsively dive into the realm of memecoins. They yearn to emulate someone else's triumph or, perhaps, acquire a memecoin that has been resold countless times, now soaring at its zenith. Amusingly, some proponents extol the virtues of these whimsical tokens. When questioned about the benefits of such projects or their potential for growth, the answer is often a resounding, "someone else will buy." This prompts us to ponder: how does this fundamentally differ from a casino? In conclusion, the question remains: Can one truly profit by embracing the Big Fool's Theory, banking on the existence of a fool willing to pay a higher price? The resounding answer is yes. Yet, pause for a moment and contemplate: Could you, in turn, become that very fool? Best regards EXCAVO
Editors' picks
Short
by EXCAVO
52
🔥 PEPE Potential Inverse Head & Shoulders: Bottom Is In?After a massive decline, and corresponding pump from the 100 area, PEPE has yet again found resistance around 210 (omitting the zeros for readability). I think that the bottom is in, for the short-term at least. Potentially, PEPE will form an inverse head & shoulders pattern, which is a bullish reversal pattern. Ideally, the price will move back towards the yellow area, which is the same area where the left shoulder bottomed las week. If the yellow area holds, the probability of this pattern playing out increases by a lot. Patient bulls will wait for price to break through the neckline around 210. Aggressive bulls will buy in the yellow area.
by FieryTrading
16