Post
Topic
Board Altcoin Discussion
Re: Question about cheap coins under 1$ need to ask how to make profit
by
albon
on 31/12/2024, 20:29:19 UTC
and the last option to avoid getting into that obscure memecoin is to buy Bitcoin and the top altcoins and do a DCA when the price drops or consolidates, the important thing of all of that is Research.
The last option is the safest, in my opinion. Honestly, the price of the coin you want to buy doesn't matter much at first, but focusing on the core of the project's fundamentals and its potential to attract investors is one of the most important factors. There are many coins under $1, but they don't have a solid project or use cases, especially for meme coins that some invest in, hoping to reach $1. However, reachiing that price depends on many factors, such as market cap, total supply, demand, coin price, burning, etc. It also acts like gambling and carries a massive risk—there's a 99% chance the coin could turn into a scam. So expectations should not be raised high in these meme coins, and they should be invested with complete caution because even with sufficient research, the future of these coins is unclear and we do not know whether their team will abandon them or strive for their success.