Best Shitcoins to Buy in 2024
With a wide range of cryptocurrencies out there, many can be said to be useful while others not. While some of them do not have real use, some are just shitcoins that are known to lack real value. Such coins are mostly meme coins or coins from projects that do not really offer anything useful. They are usually very cheap and often crash quickly. On some occasions, however, there can be instances of price spikes, producing huge profits for those who were able to get in early.
What Is a Shitcoin?
A shitcoin is a cryptocurrency that has very low value or no value at all. It is generally coin with no evident purpose or usefulness. Some people consider meme coins such as Dogecoin and Shiba Inu as shitcoins. These coins may not have utility in the real world, but they may have a large following.
Best Shitcoins to Buy in 2024
- Dogecoin (DOGE): Dogecoin is a widely known and publicized meme coin and prides its excellency on being in the top 10 of all cryptocurrencies. Though its meme status has remained consistent over time, Dogecoin has shown stability and consistency over the years. For investors keen on meme coins, this is a safe choice.
- Shiba Inu (SHIB)
Shiba Inu calls itself the “Dogecoin killer.” It may have started pointless but soon became a big deal. Although, at the moment, it does not provide much purpose, it has been built on the Ethereum blockchain, which saves it something good. The Shiba Inu team is working towards coming up with more use cases to increase value.
- Pepe (PEPE)
Pepe coin is based on the well-known meme Pepe the Frog. There are very few qualities on its usage, but it maintains its presence within the top 100 of cryptocurrencies on market cap. The team of Pepe is not hidden, and the coin goes by burning a tiny dose of tokens during every exchange that contributes to lowering the supply.
- Luna Classic (LUNC)
The original Terra blockchain is what Luna Classic has become. The process of rebranding took place once the blockchain succumbed in 2022, but its reputation is still very much in the waters. Some people think by community efforts that recovery could happen, but its future is uncertain.
- ApeCoin (APE)
ApeCoin is the brainchild of the same team that built the famous NFT collection, Bored Ape Yacht Club. It has been minted as a governance token to facilitate decentralized decision-making in Web 3. It is at the higher end of a shitcoin, but because it has strong connections to a well-known NFT project, it might get its chance at growing.
- SafeMoon (SAFEMOON)
SafeMoon is a meme coin with a very strong community-based support. They have a very unique transaction fee structure that benefits the holder and discourages selling. The future of SafeMoon is still uncertain as it however raised some security issues. This is for speculators interested in the short-term market.
- Bonk (BONK)
Finally, Bonk has cemented its place, being the first meme coin on the Solana ecosystem. Community- and hype-driven, the project gave away almost 50% of its tokens to the so-called Solana community. While still high-risk, it has the potential because of the support it has received in favor.
- Dogwifhat (WIF)
Basically started from memes that went viral on the internet, Dogwifhat is another meme coin. After appearing on various exchanges, it quickly gained momentum, although the market has been volatile and much of it has been speculation and enthusiast backing.
- Dog (Runes) (DOG)
Dog (Runes) is a meme coin that is built on Bitcoin’s blockchain. There are very high chances that it can grow because it is built on Bitcoin. The people behind this project make it much better for the investor in pursuit of a meme coin that can bring long-term results.
- Baby Doge Coin a.k.a BabyDoge
The coin that was invented for a meme for animal adoption is now a huge wallet with millions of dollars contributed to animal shelters. It has its own ecosystem inside BabyDogeSwap, a website meant for exchanges.
- Floki Inu (FLOKI)
This has become yet another meme dog, proving that it is more than just a meme. More use cases are being developed, but it is a multichain base: ETH- and Binance Smart Chain-based. It has been partnered, just like popular meme coins.
Almost all shitcoin purchases could be relied upon by the token presale. participate in the Initial Coin Offerings to yield the greatest result from the shitcoin trading period or presale, where early token-buying gains access to the mainstream market. Most of the time, airdrops give maximized coins for free, however, being in active communities like Telegram and Discord could probably lead to spotting potential rising tokens at an early stage.
How to Identify Shitcoin Scams Projects
With new projects appearing every day, it becomes increasingly difficult to distinguish those which are real from those that are scams. Here are some useful tips to avoid scams:
- Follow the Money: Check who is behind the project. If the team is anonymous or not transparent, be cautious.
- Purpose: If the coin has no real utility and is just copying other projects, it might not be worth your time.
- Marketing: Be wary if the project spends more on ads than actual development.
- Pyramid Schemes: Watch out for projects that only grow by recruiting new investors rather than offering real value.
Conclusion
Shitcoins are not probably the safest investment; they are very likely to provide the highest returning it can get if entered very early. Most coins are backed by communities that can inflate their prices, and investment into these coins does not require actual use. But do keep in mind that shitcoin investing is speculative and can lead to dramatic losses. Hence, do extensive research and invest carefully in these coins.
