I’m fairly new to the crypto trading/buying realm. But what I’ve noticed is that lots of coins for a STUPID low price which are just trash. How DOGE is worth anything over $0.15 is beyond me. Either way, I purchased ~100m SHIB when it was somewhat lower, bout 3x on average what I put in (unrealized gains) but, with the amount in circulation (which I did not know until after the purchase) it’s quite clear that SHIB is unlikely to moon.
So what I’m getting at is, what is a stupid cheap yet promising asset I could look into. How do I find these new ICO’s or underperforming assets? When I see on Crypto com an asset that went up 60% in their gainers charts, I just wonder where these people getting their info to get in before hand and what moves the price.
While this is indeed temporary, I’m looking for stupid cheap but promising in long run, not necessarily moon this day and tank tomorrow
In fact, the best way to make money in crypto investments is to buy at a very cheap price and then sell at a high price, but you need to understand that many people are trapped in this, many crypto investors (often beginners) are actually buying shitcoins that have just appeared via ICO or pre-listing on an exchange
For this reason, the role of research is needed when it comes to buying coins/tokens, don't be tempted by cheap prices but that is a shitcoin trap, it is better to buy tokens/coins that are old or listed on a large exchange because the liquidity is already trusted there and definitely the potential for a rugpull to occur is very small