Thread by @Spirit16Crypto

Beginner's guide to #shitcoins 🧵

If you are new to crypto and especially Shitcoins, it might be difficult to understand everything and eventually risk losing a lot of money because of all the millions of Shitcoins that are released every day.

-That's why i made this #THREAD

1/ Scams/Rug Pulls. A LOT of shitcoins end up being rugs or scams. One important thing to do in a newly launched coin is to check the contract. TokenSniffer is where you paste the contract of the token and it scans it for you.

Watch out for Unrenounced contract, high TAX, and how much % wallets hold. Even in these cases you can still get rugged depending on the situation, but most of the time it should be safe.

2/Utility plays. Utility CAN be a good factor for shitcoins to run,but most of the time it is not the case.If a project has good utility that is only a plus, most Shitcoins are not really serious about their utility.Find a project with a unique utility if you want to invest in it

3/ The META plays. Finding the kind of projects that are hyped in a certain period of time can benefit very well IF you are early in the meta itself, just like dog/porn/AI meta's.

The more projects that launch within the meta, the higher the chances are that you will lose money because the hype dies very quickly in crypto. Pay attention to the HYPE plays.

🧵How do you know where to invest your money?😯

4/Find the Telegram or Discord of the project. And always feel the vibe of the telegram. The website of the project also helps even though not always the case. Roadmap and such is also very important to look out for.✍️

5/I would say the most important thing to look for in a shitcoin project is COMMUNITY without doubt😏. You can have 0 utility and send a shitcoin to billions only through the community. Yes, I'm saying it.👈

6/ Find communities that are willing to work for their bags, and constantly working. Those are the kind of communities you want to be a part of. And once you're in it, PUT your work in there too. That's very important if you care about your investment.🧠

7/ Do not waste your time chasing green candles. Only invest in a project IF if you believe in it. And do not follow the emotional journey that comes with the charts.💹

8/ Avoid the TOXIC communities where they post all the PUMP and BOOBS gifs to ''SEND IT''. Avoid all ''DEV do buyback'' to pump my bags. AVOID IT.❌

9/ Invest your money in projects/communities that have been around for a while(not only) because there is a reason they are still around.🌱

10/ Learn the SHITCOIN game. Follow the PEOPLE, who have experience and know, not the charts and the FOMO at the moment.

Hope you learned something today.✍️Follow me if you want to learn more about shitcoining. More detailed threads within shitcoin topics will follow soon.
Much love🙏