There must not be more penny coins like Safemoon or Shib

[DashingAgent]

There must not be more penny coins like Safemoon or Shib

There must not be more penny coins like Safemoon or Shib as coins like these are destroying real projects because the money is circulating in such coins. Its bad impacts are hurting investors. They are losing their investment day by day. We have to stay away from more such projects or they will harm Bitcoin.

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[AB de Royse777]

On coinmarketcap.com I have added a filter for coin price from $0 to $0.1. I was returned with 3193 coins LOL



I wonder what's special with those Safemoon or Shib? :-D

[sujonali1819]

There must not be more penny coins like Safemoon or Shib

There must not be more penny coins like Safemoon or Shib as coins like these are destroying real projects because the money is circulating in such coins. Its bad impacts are hurting investors. They are losing their investment day by day. We have to stay away from more such projects or they will harm Bitcoin.

You are right. Money is handover to such project and after some period of making investment in such project the investor lose the capital. There are lot of project coming with the same format like safemoon. They just wait for a bullish market and launch there project with huge hype in social media mainly in twitter.

I wonder what's special with those Safemoon or Shib? :-D

Nothing, to be honest people always think 0.01$ is the minimum price for a coin how big the total supply. And when  a project launch with for example 0.000001 $ with huge hype in social media. Investor just think it could  be go atleast 0.01$. And they invest in it. Sometime the first investor rise their capital 10X or even more. (personal opinion)

[Beparanf]

One thing that make this shit so special was it has very low price with good trading volume and good price change that's why traders can easily have a huge profit on this very volatile coin. Buying this coin just like putting your coins in future trading without liquidation. This kind of project really destroying the cryptomarket by getting huge volume.

[tbct_mt2]

There must not be more penny coins like Safemoon or Shib

No one can prevent their appearances. With source codes, coders can create their clone tokens to join the market. It is an easy part, a beginning of a game.

Succeeded or not, it is another issue and belong to the future, the market phase, the response of investors, the temporary hype trend.
No DOGE Allowed? Thai SEC Bans Meme, Fan and Exchange Tokens as Well as NFTs. Such hype and risky trend like these will never last long.

Governments, national SECs react with ICOs, IEOs, IDOs and they will react with meme tokens, NFTs. The South Korea is the most serious nation with restrictions on cryptocurrency. After the blazing growth, their governments took actions and controlled the hype, to protect their people from scam projects.

[Ararbermas]

They're very promising at first after dogecoin, but see what happen even they all have massive volume in the market wherein seemed very critical as its keep struggling and had a huge percentage itself after massive dump in the market. We should stay away on this kind of coin because they didn't show any sign of improvement and surely soon it will become shitcoin when market crash again in my personal opinion.

[DashingAgent]

Just stop investing in more such projects.

There must not be more penny coins like Safemoon or Shib

No one can prevent their appearances. With source codes, coders can create their clone tokens to join the market. It is an easy part, a beginning of a game.

Succeeded or not, it is another issue and belong to the future, the market phase, the response of investors, the temporary hype trend.
No DOGE Allowed? Thai SEC Bans Meme, Fan and Exchange Tokens as Well as NFTs. Such hype and risky trend like these will never last long.

Governments, national SECs react with ICOs, IEOs, IDOs and they will react with meme tokens, NFTs. The South Korea is the most serious nation with restrictions on cryptocurrency. After the blazing growth, their governments took actions and controlled the hype, to protect their people from scam projects.

[Sterbens]

DYOR!!! only to take advantage on one occasion when the first bubble is pumped with great force. not for the long term that's why coins like this become a hotbed for huge profits. regardless of destroying the market or not, I have not really followed the trend of such coins since their emergence until now.

so if anyone feels aggrieved by the coin, I hope you return to the initial decision of why you dare to bet on a coin that will only last in the short term, because after a big pump the impact will be unstoppable.

[Ryker1]

DYOR!!! only to take advantage on one occasion when the first bubble is pumped with great force. not for the long term that's why coins like this become a hotbed for huge profits. regardless of destroying the market or not, I have not really followed the trend of such coins since their emergence until now.

so if anyone feels aggrieved by the coin, I hope you return to the initial decision of why you dare to bet on a coin that will only last in the short term, because after a big pump the impact will be unstoppable.

Well for me, they are still on the hype and it will perhaps very risky to invest if those who controlled the price will make the coin dump.
However, I admit that as of now ^{[in a short period of time]} they are profitable since they are in bumble right now but as a matter of fact they are of no use in the community. We should have proper research of having investment especially in altcoins, they are most likely very hot in the first place but later on, they will become useless. If you will believe in high risk, high return profit should have your own study.

[shield132]

There must not be more penny coins like Safemoon or Shib

There must not be more penny coins like Safemoon or Shib as coins like these are destroying real projects because the money is circulating in such coins. Its bad impacts are hurting investors. They are losing their investment day by day. We have to stay away from more such projects or they will harm Bitcoin.

Have you seen how many fans these coins have online? Things exist in nature because of one reason: There is demand, there is supply. There isn't a problem with these coins because there is demand, the problem is about the quality of demand, i.e. people. People invest in these coins because they want to multiply their profits in some days, if not hours. They think that they can turn their $1000 into $10 000 in one week if they invest in these coins.

So, this is the problem. People don't invest in coins because they believe in the benefits that certain projects can bring to the financial sector or the community, they invest because of speculation and the wish of easy money. Elon Musk multiplied the number of such people because Elon made shitcoin to worth up to 1 dollar and people believe that shib is a new dogecoin.

Some people were lucky and really profited enormous amounts of money from shib. It's not different from pyramid schemes because the FOMO and Panicky people are the coin holders and the project has zero value.

[noorman0]

Its bad impacts are hurting investors. They are losing their investment day by day.

Hurting investors who fall into their trap. I don't think they are investors, just fortune seekers with no underlying reason.

We have to stay away from more such projects or they will harm Bitcoin.

What can shitcoins do to harm bitcoin? Even years after bitcoin was introduced, new projects with better innovations have sprung up. And that doesn't change the fact that, bitcoin is still better.

[danherbias07]

On coinmarketcap.com I have added a filter for coin price from $0 to $0.1. I was returned with 3193 coins LOL

Wow, that's a long list. I didn't think it would be that many and they all paid coinmarketcap just for listing. I hope they got ROI.  
It became a trend, I suppose that's the main problem of this. Making coins got easier and the pandemic helped more giving them time to take lessons from Youtube on how to create one.
But we can't stop it. All we could do is stop supporting them and maybe stretch our knowledge to inform more investors that it is not the most wise investment out there.
Sure, it look cheap and you will have billions in coins amount but that doesn't mean the value of it will always go up.

[Mpamaegbu]

Well, there's really nothing single individuals can do if exchanges don't stop it. We get to buy these tokens you talked about from exchanges, don't we? So, if those buying don't get to see where they would buy, whether on Cex or Dex, the tokens will die off naturally. Again, don't pity those who invest in such tokens. They certainly know why they do it. They want easy money, so they think. Sadly, a lot of them get trapped. It's frankly not any one's fault, but theirs.

[enhu]

One reason is that doge had gone up already. Dogecoin was a good coin to trade back when its price was less than a cent. If you could just have 1M Doge during that time, you could earn every day with up to $100 a day with a tiny price movement. They are making more of it because it's easy to earn despite the Ponzi scheme of it like this safemoon.

[XCANA]

Many investors have really lost a lot by investing in all this coins or new project. If I may ask why are we even having new projects now of which many of them are similar to the existing one. Is there anything difference from Dogecoin and SHIBA INU ? If there is no much difference then why need for SHIBA INU if whatever they are out for is same as Dogecoin.

[teosanru]

There must not be more penny coins like Safemoon or Shib

There must not be more penny coins like Safemoon or Shib as coins like these are destroying real projects because the money is circulating in such coins. Its bad impacts are hurting investors. They are losing their investment day by day. We have to stay away from more such projects or they will harm Bitcoin.

You and I cannot do anything about it. These types of scams will take new forms but the money of innocent investors is the bread and butter of big whales. Even in the stock market until today, penny stocks exist, which means even until today there are a lot of stock market investors who lose money in penny stocks. If a regulated market hasn't been able to curb this practice, how do you expect an unregulated market like cryptos to curb this practice? It's the money of the investors themselves and it's their responsibility to get educated about their money, So I don't think you or me or even anyone in the community can do anything about it.

[dezoel]

They are not harming good cryptos because any serious investor will never invest in a coin that calls itself a meme coin. I don't know why traders and investors recently have shown more interest in these high-risk coins because eventually they will become dirt and offer little to no value at all. Maybe after the crazy doge push by Elon, people are just going to invest in any dog-named coin for a while.

Yes, a lot of traders might blame the crypto market after being scammed by ICOs and meme coins but that is the nature of the market, if you are not smart enough no one can save you in such a competitive market especially decentralized. There are tons of coins I see named after some dog breed which is quite hilarious because are people actually so naive that they will invest in anything just because dogecoin was pumped? That is bizarre.

[retreat]

There must not be more penny coins like Safemoon or Shib

There must not be more penny coins like Safemoon or Shib as coins like these are destroying real projects because the money is circulating in such coins. Its bad impacts are hurting investors. They are losing their investment day by day. We have to stay away from more such projects or they will harm Bitcoin.

delusional investors continue to hope from new coins like this with dreams of getting rich overnight, this is what makes penny coins like shiba and safemoon have a price.

I promised myself that I would not buy new coins and meme coins like this because surely I would only lose big.

[justdimin]

They're very promising at first after dogecoin, but see what happen even they all have massive volume in the market wherein seemed very critical as its keep struggling and had a huge percentage itself after massive dump in the market. We should stay away on this kind of coin because they didn't show any sign of improvement and surely soon it will become shitcoin when market crash again in my personal opinion.

The market for these shit coins is going to crash even during bull runs for other tokens because these coins offer no use-case and are totally based on the hype created by them. You may consider them as ponzi schemes where as long as the ponzi is getting money, some of the investors will get their money back with good interest but as soon as saturation point is reached, the ponzi just shuts down and similarly these coins will die.

DYOR!!! only to take advantage on one occasion when the first bubble is pumped with great force. not for the long term that's why coins like this become a hotbed for huge profits. regardless of destroying the market or not, I have not really followed the trend of such coins since their emergence until now.

Even for short-term profits, one shall look at other alternative options because when you enter such a market where the coin is being hyped without any solid development behind it, you don't know which moment the market starts crashing.

[livingfree]

There's no way for you to stop these developers. Some coins that I've seen have added "elon" on their names like Dogelon and Elonone.

You have to embrace whatever that's being made by these developers that only wants the money of their newbie investors. They'll die eventually when there's no more volume on these coins.

But the sad truth is that developers got their money on their pockets and will just have to move on and might make another meme project.