How comes some currencies holds literally a fraction of value?
How comes some currencies holds literally a fraction of value?
Im new to crypto and trading, in one hand Ive discover there are thousands (!) of different cryptocurrencies, what are memecoins and so on.
With that research question(s) come to minds, why the ”diversity” and how comes people don’t focus on project to an already established and stable coins, and starts creating gazzilion of new currencies that probably will not be worth anything and still generate costs on infrastructure.
There are also the memecoins that “just exists” and have 0 “real life usage”. What is the real reason for these to be listed?
Taking as example the Vita Inu coin that has $0,00000001 per coin.
Hope Ill get some information on this, and thanks in advance for any comment!
People create useless coins, pump them using social media bots on reddit, X, youtube etc. Then when real buyers enter the market, they sell their coins to the noobs for profit.
Its basically a new form of scamming. Stay away from meme coins
Gimmick to pull in newb investors “you can own a billion of them!” It’s also a hair away from valueless where many of them end up.