Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.
1. They are not created for long term most of the time shitcoins exist for short term and devs who create it will dump this because they move to their next project to avoid losing your money sell it immediately once you are in profit.
2. Never believe about devs promises since they are not really there to help you but they want to scam people and want o get rich quickly.
3. Be realistic and don't join the FOMO since this could lead up losing your money.
4. Never believe on people telling you to hold or even buy more they just want their target to get hit and for sure they will dump it without your knowledge so sell first before other do so that you will not end up chasing pumps to gain back your capital.
5. Most important of all became a smart investor and never doubt on possible profit which is not in your hands. Always be grateful on profit big or small since this could give you contentment and became always bullish on your investment.
I agree with your points. These are the things that I often say to most of the people who asks me about Meme coins and shitcoins. Although I do not advice investing on those for beginners, if the one asking about it is really set on jumping into Meme coins and shitcoins, I don't stop them as well since it is also a great learning experience. Besides, there truly are profits to be gained from these types of coins if you just know what you are doing.
Too bad though, despite giving the advice, some people still tend to fall in love with their investments which makes them ignore all the knowledge they have and go titanic ship captain and sht on their investments. Sticking with the coin despite the sinking price ending up losing more than they should. Oh well.