Re: Why people keep "investing" money in shit/memecoins? Genuine question.
It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?
This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?
When the time People in crypto Invested the word "GEM" ? this is the answer to your question mate because people are use to seek more income , they even believe in Scam that promised them big earning so best not to wait for your funds to die eventually , invest only what you can afford to lose and invest the funds that you know you can leave for long term without expecting big that soon.This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?
I won't lie shitcoins brings the biggest profits if you know your way around them, the way is buy at very early stage of release and wait for just weeks the higher the volume grows the faster your money climbs up so just find an exit point.
Of course since shitcoins are mostly use for manipulation , but if you are the luckiest one then you will profit , and how many like you needs to lose for you to earn?