Shitcoin is high English for a crypto altcoin that’s got no real purpose for existing.
Its future is completely reliant on speculation and being pumped, because, again, it doesn’t actually have any purpose other than existing.
Sadly, a shitcoin’s long-term future is filled with emptiness, failure and head-scratching by all those who bought it.
Oh, and we forgot, it’s a piece of sh*t.
Shitcoins, while subjective labeled as such, promise you the world, maintain price or even increase in price while the hype around them is high.
However, shortly after buying a bag, the sh*tcoin takes a fat nosedive off a cliff as the altcoin is sold off into oblivion by traders looking for profits.
To spot shitcoins in the wild, look for the following:
- Altcoins that have little to no information about their developers or leadership team,
- Altcoins that make generic promises but don’t back those up with any technical whitepapers or specific functionalities,
- Altcoins with super low liquidity
The future of a shitcoin isn’t bright.
It’s the opposite.
It’s dark and lonely and in the dumps.
You don’t want to touch it with a 10-foot pole even if Crypto Twitter is telling you it’s the next Dogecoin.
Stay away! You’ve been warned.