A shitcoin is basically a cryptocurrency that has almost no real value, legitimacy, or usefulness. These tokens are usually made with very little creativity or intention, often just for laughs or to make a quick buck. A lot of these coins, commonly called meme coins, are based on trending events, internet jokes, or memes. Since most shitcoins fall under the meme coin category, people often use the terms shitcoin and memecoin as if they mean the same thing.
Shitcoins are often supported by exaggerated marketing, unclear purposes, and teams of unknown developers. Since these tokens lack real value, their prices usually plummet when interest wanes. The term ‘shitcoin’ is often used negatively to refer to altcoins, as they can also experience price drops like shitcoins. However, altcoins aim to be superior alternatives to Bitcoin. The key difference is that altcoins strive to build projects with real utility and value, while shitcoins typically do not.
The Great Era
Seeing how popular memecoins have become, a lot of crypto projects have made it easier for people to create ‘shitcoins’ by taking away the complicated stuff. For instance, Pump.fun really nailed this in 2024, making it super simple for users on Solana to create tokens. This simplicity led to a huge wave of new shitcoins, with hundreds or even thousands popping up and trending every day.
How Are Shitcoins Made?
Shitcoins are basically created through token generation and some marketing tricks that developers use to draw in investors. Here’s a closer look at how shitcoins hit the crypto scene.
- Choosing A Blockchain Network
- Utilizing Token Creation Tools
- Setting Token Parameters
- Minting The Tokens
- Token Marketing
- DEX Listing
Conclusion
Shitcoin is a wake-up call about the dangers of crypto investing. They might promise fast profits, but most don’t hold any real value over time and are super risky. Make sure to do your homework before putting your money in, and don’t just jump on the bandwagon without knowing what the project is all about.