Have We Started in the Era of Zero Coins?
It initially started with Doge coin, which had a few zeros, then we moved to Safemoon, then Shiba, and from here a group of many coins ending with Inu.
I opened the Market Cap today to find that in Trending we have BTC number one and then a new coin called #Shinji Inu which is now followed by more than 3000 thousand people on Coinmarketcap and it also has nearly 15 zeros or more that currency that was traded yesterday with more than a million Dollar has become a trend.
This has attracted these currencies a number of many people who seek only double the profits after the owners of these currencies promised them to fly some zeros, then you will have achieved tens of times the profits.
Indeed, these currencies attract a large number of users, and some profit very significantly, and we at Shiba inu are a good example, where some were able to make millions by buying Shib early.
But I think in the long run, despite the promotion of Doge on Twitter and SHib, there is no future for these coins in light of strong coin groups such as NFTs, Play2earn and other coins that are booming day by day away from Shitcoins.
Long Term Market
But in my opinion, the cryptocurrency market is a long-term market where you must invest for the long term in order to reduce the risk of your investment, otherwise many of the currencies that appeared quickly and also disappeared quickly, they also caused the loss of millions for investors.
Therefore, you must choose good currencies with a strong project and continuous development. This is the goal of buying these currencies so that there is a continuous development by the work team because this is what gives the currency its value in the future, and you can also earn from it dozens of times.
This is the same as happened with ADA, Solana and BNB as well, which doubled dozens of times in about a year, which is not a long period of time compared to reducing the risks achieved by investing in those currencies.
Therefore, entering into Shitcoins or zeros coins as I call them, is a bet that may be ridiculed or profitable, but it is still a gamble in the market because it does not guarantee the work team that may escape with your money.
And you, what do you think ?
Thank You
Interestingly, I think the top three or four (but no more than those) shitcoins may end up with incredibly important use cases. Because individually they are so low value, in larger quantities their prices are relatively stable over the short and medium term. That makes them ideal as an actual medium of exchange (rather than an investment and store of value like BTC).
As the owner of an e-commerce business, I see DOGE and SHIB as perfect for low value sales, and LTC (also relatively stable and with low fees) as the next tier up, for medium value sales. I guess I think of LTC as pounds and DOGE/SHIB as pence.
We still see a lot of people questioning whether you need to buy 1 whole Bitcoin.
A feat that at $40K, looks extremely intimidating..
Therefore, I actually see these zero coins (I like that term!) like SHIB as a gateway to the space.
People buy and then they have a vested interest in learning more about the space as a whole.
Eventually gravitating toward the more solid projects.
PS. Your content is excellent and I see you post it all to the LeoFinance community.
However, by not using the leofinance.io front-end, you're not maximising your LEO rewards.
Have you considered making the switch?
Posted Using LeoFinance Beta
Of Course
This is a good advice, I will use leofinance
Yay! 🤗
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