⏺ Is Shitcoin a scam?

🐶 What is "Shitcoin"?
Shitcoin = a small coin with no real value, no technology, and no application scenarios.
Typically characterized by:
• Project team anonymous
• Shoddy white paper
• No product, no technology
• Relying solely on community hype
• Extremely volatile prices
Its essence is "speculative," not an investment.
🚨 Why do many people say Shitcoins are scams?
Because the vast majority of Shitcoins have only three stages in their lifecycle:
1. Pump (project team + whales)
• Mint coins at extremely low cost first
• Buy some to drive up the price
• Create the illusion of "taking off"
2. Attract retail investors to buy in
• Post on Twitter, make meme images, shout buy signals
• Make you think "this is the next 100x coin"
3. Dump and run away
• Project team sells off their coins
• Price instantly drops to zero
• Community disappears
This is "Rug Pull" (completely rugging out)
So many people equate Shitcoins with scams.
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