What are the characteristics of a shitcoin?

[ti4c]

I keep hearing people call a coin "shitcoin". I have seen some arguments regarding some coins being called a shitcoin but yet the same coin ends up being impressive in its growth in the market. I thought a shitcoin should be a coin with no potential or use. Can someone clarify for me on the term " shitcoin", it will be helpful for investment knowledge. Thanks

[VanDeinsberg12]

I keep hearing people call a coin "shitcoin". I have seen some arguments regarding some coins being called a shitcoin but yet the same coin ends up being impressive in its growth in the market. I thought a shitcoin should be a coin with no potential or use. Can someone clarify for me on the term " shitcoin", it will be helpful for investment knowledge. Thanks

No development, no product (It have been developed in some periods but no result at all). Sometimes there was a project that over hyped, over rated and overvalued and it can be called as shitcoin too.

It has no product and those people are giving a high price for each of its token.

[killerfrost]

Shitcoin is a term in the electronic money world used to describe a worthless Altcoin. In the first phase, due to FOMO psychology, the price of Shitcoin may be inflated by the positive impact of Bitcoin or the good news for the cryptocurrency community. But once the true nature of these Altcoins is apparent, shitcoin prices will fall dramatically.

[drlukacs]

There are many signs to recognize shitcoins. The first is the exchange rate between shitcoins and ETH and BTC, usually with shitcoins the price will be very low. And the second sign is that shitcoins show signs of postponing listings on exchange floors or no plans for listings. The third sign is probably the exchange rate fluctuations when the market falls, with shitcoins, the exchange rate recovery rate seems to be no, the exchange rate will only decrease rather than increase.

[Caelanpelley]

You want to invest in shitcoin so find out. The shitcoin nature is shit, but every shitcoin has the chance to become gold. It is important to know the options. Shitcoin offers more opportunities than any top coin. Hold shitcoin is also a far safer way for those with little capital.

[melamiras]

I keep hearing people call a coin "shitcoin". I have seen some arguments regarding some coins being called a shitcoin but yet the same coin ends up being impressive in its growth in the market. I thought a shitcoin should be a coin with no potential or use. Can someone clarify for me on the term " shitcoin", it will be helpful for investment knowledge. Thanks

Shitcoin is often used by people who believe that only Bitcoin should exist, but there is a part of truth on this, as there are many coins that are simply copycats with no technology and have no future nor team behind.

[joerogers8]

The dangerous shitcoins have no product but some sort of prototype that's about to go live.  They have tons of marketing and slick graphics.  They may also have a white paper that is well done.  The lack of product is the one tell tell sign that you have to be careful.

[JohnnyBobby]

The dangerous shitcoins have no product but some sort of prototype that's about to go live.  They have tons of marketing and slick graphics.  They may also have a white paper that is well done.  The lack of product is the one tell tell sign that you have to be careful.

I would just add an even bigger warning sign is a whitepaper written very poorly with bad grammar or poor English. Another sign to lookout for is a development team that is anonymous, i.e. no faces to their profiles, no LinkedIn additions, or simply a background that speaks of knowing little about the supposed product.

[cahkalem]

I keep hearing people call a coin "shitcoin". I have seen some arguments regarding some coins being called a shitcoin but yet the same coin ends up being impressive in its growth in the market. I thought a shitcoin should be a coin with no potential or use. Can someone clarify for me on the term " shitcoin", it will be helpful for investment knowledge. Thanks

i think a coins with too much hype, and the coins didn't have any product also there is no active development inside the project
then, most of shitcoins will die in this bear market

[goshay97]

There are different levels of shitcoin.  The main one goes something like this.  No white paper, Anonymous steam, no product, announcement only Telegram.  Those are fairly obvious to spot.  The usually will also be making wild claims and promises.  And yes I invested in one of these before.  It was my first week in.  UGH.  5K GONE.  Thanks Artemine.

[linkHA]

Without development, most of the time you can analyze whether this project is shit coin from the code of GTIHUB.
Because if it's shit coin, the code is not updated in most cases.

[Lighthouze]

The characteristics of a shitcoin are in a no particular order;

1. The team have no plans to further the project.
2. No updates
3. No consistency with roadmap
4. Price remains stagnant on exchange despite BTC rally
5. Code on Github is never updated

[cryptobae10]

Shitcoins have the following
1. Tempting and promising project idea that never gets fulfilled
2. Fantastic price when they list on exchange only to dump miserably
3.  Zero development after tokens are dumped by project owners

[sinachy]

There is always a misconception when it comes to coins, most people in cryptos space regards a coin to be shitcoin when the market price is going down and down, people will say, the coin is a shitcoin, but it's not suppose to be so, projects should not be measure just on it's market value.

[mbally]

In my own opinion, shitcoin are the once that doen't have a good user case, their product doesn't make sense and on the exchanges, the price of the coin always go down without going up.

[mexite]

A shit coin can be identified by any of these characteristics:
1. No tangible product(s)
2. No development team
3. Too good to be true claims (exaggerated claims)
4. Selling point of the token is the price it will hit an exchange with (price discussion prior to listing)
5. No technical plans

[Kang TB]

In my own opinion, shitcoin are the once that doen't have a good user case, their product doesn't make sense and on the exchanges, the price of the coin always go down without going up.

sometimes a sitcoins have a huge pump, but, only a while,, after that the bigger dump coming
a shitcoins just a coins without real dev tem and without a real product also a shitcoin mostly a useless coin

[vallytech]

To me a shitcoin is a coin that the price of the coin, is 50% down below the ICO and the project is not completed, the team doesn't communicate with the community on the progress of the project, no partnership, no event attending etc, that's a shitcoin for me.

[boy130]

The dangerous shitcoins have no product but some sort of prototype that's about to go live.  They have tons of marketing and slick graphics.  They may also have a white paper that is well done.  The lack of product is the one tell tell sign that you have to be careful.

I agree with you. Most of the signs of a shitcoin are particularly those when the price is relatively high due to some sort of market misconceptions but in its true colour the coin is worthless with no perspective of any product.

[danherbias07]

Maybe you should be looking at the profile of who said it and why.
They might just be Fudding an altcoin for their own greedy moves. Making people dump some token so that they could buy it at a cheaper price.

If it is really a shitcoin then you will find no progress with it. Do not just believe in anything you see on telegram for there are a lot of Fudders that are scattered now. Look at how the company markets their product and that could be the truth.