Quote from: Cling18 on October 29, 2021, 02:32:16 PM

Too much hype from the crypto community, as well as the whales who are manipulating it, is the reason why the price of it is too volatile.

You could become a whale too, that is what every newbie would be thinking, making it an effective method to dump on the newbies. Whales love to manipulate the market when there is no regulation and therefore they want more hype and then cycle this hype-sell-hype-buy.

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Seeing it remain steadily at the same price is quite hard since it doesn't have a firm purpose and function.

Good thing you have realized it before the rest. I hope you take better decisions on how to spend and save your money in the future. Just buy bitcoin. Grin

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I hope it would have a real purpose as a coin and would continuously develop in the future.

As much as I would love to agree to your statement, I am afraid the truth and reality are more harsh than that. Major shitcoins that masquerade as memecoins or so are 100% failures. This will not be evident while the veil of hype is covering it, but you too will understand this a few months later.

These coins all go for the hype and get pumped and then the whales will decide to dump and move to a new coin at which point all investors will be left hanging high and dry with a price lower than their buying price. In other words, a net loss.