The development of bitcoins led to the appearance of thousands of cryptocurrencies. Among them we find Doga, Pepe or recently pnut. These cryptocurrencies, baptized by the same or shitcoins for the most virulent, now represent a large part of the ecosystem, but where do they come from and how to recognize them?
With the recent Trump recovery, it’s just a bitcoin that is on the rise. Other cryptocurrencies are also kidnapped from the perspective of a Bullrun crypt. Among the virtual currencies that cause madness, there are some simple jokes that slipped and gained several million, even billions.
What are the same corners or shitcoins in a crypto? Definition
The terms “the same” and “shitcoin” are more or less used to indicate the same category of cryptocurrencies, namely currencies that have evolved on the edge of serious and established blockchain projects. Their value is based only on speculation and the hype of the moment. They have no other internal technological value, such as other “classic” cryptos such as Bitcoin or Ethereum.
The difference between the two terms is quite vague, but in general we use them to talk about cryptocurrencies based on their own blockchain (as dogecoin) or hosted as chips on existing blockchains (as shiba inu on Ethereum). They are created around memes or funny links with a strong community size. In general, it is a timing story, so the price flew.
An example of the same reason: a nap
Let us take the latest phenomenon to better understand how these crypts work and madness around them. Right now, the fashion crypto in the ecosystem is also known as peanuts of squirrels.
The same has flew sharply for several weeks and refers to peanut, orphaned squirrel received by an American citizen named Mark Longo, 7 years ago. On Instagram, a small animal became a very famous, with more than 700,000 subscribers on Instagram. Recently, however, a dozen agents of the Dec (Department of Environmental Protection) of the state of New York came to search Mark Long’s home to get squirrels and euthanasier.
This tragic event apparently moved a lot of personalities, including two accomplices Elon Musk and Donald Trump, who rushed in this respect to tweet.
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Gradually, this event turned another and was politically recovered as a symbol of American elections. “Voting for Pnut!” For freedom! For freedom! »We could read 4 November in the account of Elon Muska X, one day of the American elections.
In a way, the whole story was knit around Donald Trump, the popular candidate of the boss Tesla. The rest, you certainly know: Trump won the elections and increases the crypto peanut squirrels, only speculation. Meanwhile, a little smart created the motto in the image of squirrels on the blockchain Solana (another cryptocurrency that allows you to easily create your own chips).
Result: After ten days on the market and good speculations, the same capitalizes EUR 2 billion and occupies 48ᵉ instead of the most important cryptos on the market. It joins other successful people as PEPE, DOGE or even Shib.
The properties of the same and shitcoins
In order to understand how these virtual currencies are created, we must first return to the cryptocurrency structure itself. Specifically, the latter are based on common technology: blockchain. If an entity wants to create a cryptocurrency to meet specific needs, then it creates its own blockchain.
For several years, however, some cryptocurrencies, such as Ethereum, Solana and recently bitcoins, have built a real ecosystem. With the accumulation of updates, some blockchains allow users very easy to create tokens (also called tokens). In fact, where at that time the creation of their own motto required several months, even years of work, today, in a few seconds, anyone can create their crypto in a few seconds.
This is the least difficult part. On the other hand, the entities behind the road rely on everything on the communication and tried to find a narration around their motto to collect the quasi-pins community, who then take care of the virality of Shitcoin on social networks.
Where does the same come from the crypto phenomenon?
DOGE cryptocurrency is certainly the first obvious example. She was born in 2013 with reference to Kabos (Peace for her soul), a dog that became famous thanks to Meme, who all saw today to go through:
Dogecoin was also based on another crypto: Luckycoin, who himself carried Litecoin and used Scrypt in his work evidence.
At that time, the developers behind the crypt presented it as a joke and did not assume a great future for a virtual currency. In addition to experiencing a monumental explosion of its value in 2020 after Elon Musk proudly showed his love for cryptocurrency. As a great Guru from Doge, he led to the same intervention on X. These manifestations are also quite controversial and brought him to initiate crime to invest in investment.
Why do some people attract investors so much?
No matter how it is, the Doge recipe continues to inspire not only Shitcoin or the same, but also the investors. And for good reason, the increase in value is often quite spectacular and for the first on the train the added value can be crazy. In general, it comes from the fact that these cryptocurrencies, whether their unit value, regardless of their unit value, have a very low market capitalization at the beginning and the smallest investment increases the price. In a period of intense madness, this clearly becomes a missile. The counterpart is that the fall can also be if we take the crypto one day.
Risks associated with the same or shitcoins
In fact, many people invest in this type of same or shitcoins who have heard echoes of their success. Online communities generally sell dreams since they came in advance, and everyone is interested in the other investors to enter to raise prices ” to the moon ». Before you leave. In short, Ponzi.
It should be borne in mind that these cryptocurrencies are clearly casino and that DOGE, pnut, pepe are really anomalies among hundreds of thousands of other the same, or even more. Most, even in Bullrun, are more likely to stay 0.
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