On 19th January, the Trump Coin was launched and quickly gained attention. However, what most people don’t realize is that this coin is actually a meme coin with no major project behind it. These kinds of coins can make huge price jumps, but they are often short-lived and highly unpredictable.
Imagine this: You invest just Rs. 10, and it magically turns into Rs. 90 crore! Sounds too good to be true, right? Well, that’s the volatile nature of pump-and-dump coins.
There’s a website called DEX Screener that tracks the wild fluctuations of these coins. Some coins have seen massive increases of 5k%, 10k%, and even 25k%! But here’s the catch: there’s no real value or solid project backing these coins. Once the hype dies down, the price crashes, leaving investors with massive losses.
These types of coins are designed to create hype and attract new investors. Early buyers profit while latecomers get left with worthless coins.
Don’t fall for the excitement of sky-high profits without understanding the risks. Always do your research before investing in any cryptocurrency. If the project doesn’t have a solid foundation or backing, it’s probably a scam waiting to happen.
Protect your investments by being aware of meme coins, pump-and-dump schemes, and coins that promise unrealistic returns. Stay informed and always check the credibility of the project before jumping in.
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