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Why Penny Cryptos are LETHAL for TradersCryptocurrencies are often likened to the Wild West. They are untamed, unregulated, and packed with potential riches. However, they are also fraught with hidden dangers and potential pitfalls. One such peril lies in the world of penny cryptos. They’re cheap, super volatile, and they attract the minds of those who want a quick fortune. This is similar to a gambling mentality. And You don’t want to go down this rabbit hole. Once you get in, you find every reason to hold. You build so much trust, prospects and hope with them. You might as well marry them and expect the inevitable divorce which will rob you of your money. Anyways, penny cryptos are lethal, and here’s why. #1: Huge Volatility with Major Fluctuations Imagine being on a roller coaster that has extreme highs and drastic lows. One moment, you’re at the peak, enjoying a scenic view. The next you’re plunging into a scary abyss. That’s the world of penny cryptos. Penny Cryptos are definitely like the wild wild west. They swing drastically in value. This is because of the low value of the currency. #2: Issued by Small Companies with Little Experience and Knowledge If the financial world was an ocean, penny cryptos would be the tiny, uncharted islands you might stumble upon. The kind of islands that do not inhabit life and have erratic waves completely wash over it on a sporadic basis. Well, in the deep ocean of crypto currencies, Penny Cryptos are these tiny pebbles. Most times they’re issued by small, relatively unknown companies. Sometimes they are issued by children in their parents basements. Sometimes they are issued by gamers who don’t want to work for a living. Sometimes they are issued by Only Fans sexy girls who flaunt their bits and believe their currency will go up in value (amongst other things). Anyways, Penny Cryptos (unlike Penny Stocks) lack the experience, credibility, intangible asset value and knowledge to navigate the tumultuous shitty penny cryptos. In fact, they call many of these Penny Cryptos Shit Coins – No joke! Such companies often struggle with regulatory hurdles, lack of funding, and poor management, making their cryptocurrencies extremely risky ventures. #3: High Target of Scams and Fraud and Even Ponzi Schemes Penny cryptos can sometimes be the financial equivalent of snake oil salesmen. Their low cost and relative anonymity make them the perfect target for scams, fraud, and even Ponzi schemes. And you know how messed up the world is and what kind of trash people there are. And so, they are Penny Crypto con artists who try to sell their shitty coins only to lead to either a pump-and-dump scheme. Or to fake an ICOs Initial Coin Offering) gather a whole bunch of money from investors, then make a run for it. Please don’t fall for these scams! #4: Illiquid and Low Volume Which Will be Difficult to Get in and Out One of the most lethal attributes of penny cryptos is their lack of liquidity. Liquidity, in the financial sense, is like the exit doors in a movie theater. The more doors there are, the easier it is for people to leave when the movie is over. In the world of penny cryptos, these exit doors are often few and far between. Due to their low volume, buying and selling penny cryptos can be incredibly difficult. If you’ve invested in a penny crypto and its value begins to plummet, you may find yourself trapped, unable to sell and cut your losses. And you’ll just be stuck in your trade for years on end, while it gathers digital dust. #5: More Likely to Hit 0 as They are Less Trusted by the Public Trust is like the foundation of a house. If it’s strong and solid, the house stands tall. If it’s weak or non-existent, the house collapses. Given the factors I mentioned above, should be enough to make you realise. Any one of these weaknesses with a coin, can lead to a crash down to 0. And believe you me, most of the millions of Penny Cryptos that are around today – will be nothing more than a remnant of a memory in the future.
Education
by Timonrosso
Is the Grimace a new potential gem?Hello, traders! Today I'd like to talk about Grimas coin This is a P2E project with a very active audience. Reasons why it should grow? The creator will not launch futures trading at the moment, as we know that futures lead to a drop in organic liquidity and more manipulation in the market due to leverage. He is constantly working on marketing, it has already happened that Mcdonalds itself is PR'ing Grimas and this is to his advantage. The marketing campaign has organized a fund to help underprivileged people, which is very good for social proof. It is also being PR'd by bloggers who are known in political circles. Who knows how this will impact further - time will tell. I would not like to say that the government has no impact on cryptocurrency, however, the cryptocurrency world is now closely tied to it. What about the technical parameters? We have a very long consolidation and a spike in volume to buy, there is a resistance zone around 7.4. Under current realities, once the number of limit sell orders falls near the upper boundary, then this coin will rise in its price. What do you think about Grimas? What coins are you currently considering trading on the spot market?
GLong
by Ingwina
🔥 PEPE Oversold Bounce From Support: Great Upside!PEPE has been trading bullish alongside the dotted support line for around a week now. This trade is based on the idea that PEPE will once again bounce from said support. The idea of the bounce is reinforced by the fact that the RSI has hit oversold on the hourly chart, which has always caused a bounce in recent history. Target at 200, stop at 159 just below the support. It's a risky trade, but has very decent upside.
Long
by FieryTrading
17
WHO WANTS FROG? MEMEMEMEME! : PEPEUSDTLemme know which version is preferrable so I can run with that in future: Me: Last chance to enter early. I have no incentive to promote this particular coin other than about a Dollar worth of street cred for calling it correctly and the knowledge that I contributed a little bit of value to some people somewhere. ********************* ChatGPT: 📢 Attention Traders! 🚀 Get ready for a groundbreaking opportunity in the crypto market! Today, we bring you exclusive news about the PEPEUSDT meme coin that's on the verge of an explosive surge! 🐸💥 Don't miss out on this golden chance to invest in PEPEUSDT before it skyrockets to new heights. With the market conditions aligning perfectly, now is the time to take action and secure your position at the bottom. Act swiftly, as this might be your last opportunity to join the wave of potential profits! Why should you invest in PEPEUSDT? Let's take a look at the compelling factors that make this coin an irresistible option: 1️⃣ Unique Meme Coin: PEPEUSDT stands out from the crowd with its exclusive meme-based concept. As the popularity of meme coins continues to rise, PEPEUSDT has the potential to capture the attention of a massive audience. 2️⃣ Explosive Growth Potential: Our experts have thoroughly analyzed the market trends, and all indicators point to an imminent surge for PEPEUSDT. With strong fundamentals and positive sentiment surrounding the project, the growth potential is enormous. 3️⃣ Early Entry Advantage: By getting in at the bottom, you position yourself for maximum gains. As more investors recognize the tremendous value of PEPEUSDT, the demand will skyrocket, driving the price higher and increasing your returns. Now, let's turn our attention to the most crucial part—taking action! We urge you to seize this opportunity with the following persuasive call-to-action: 📢 Join the PEPEUSDT revolution NOW! Don't hesitate, as time is of the essence. Open your trading account on TradingView and secure your position at the bottom. The potential rewards are waiting for you! Remember, successful traders are those who spot opportunities and take decisive action. By investing in PEPEUSDT, you position yourself at the forefront of a potentially groundbreaking crypto movement. Embrace the excitement and potential profits that await you! 🚀 Act NOW, before it's too late! Start trading PEPEUSDT on TradingView and be part of this incredible journey to financial success!
Long
by Rebelmedia
PEPE like DOGE?Hello friends, when asked how I see it with PEPE, I would compare it to the similarity with DOGE, on pepe I put important trend lines for me and attached a long-term chart of dogecoin on it... make the picture yourself, I don't have any special one on pepe now opinion and we are not even overly bullish on the crypto situation. Overall, however, another big increase is expected for PEPE, in fact, when PEPE passes above the tredline, which is resistance, and rebounds from the lower trendline.. then I will open a long position.
CRYPTO:PEPEUSD
by Bitcoinblockchainonline
Decision levels for useless altcoins!Meme coins like BINANCE:PEPEUSDT showed how easy to make money for the fraud developers. There are countles meme coins floating around in the Crypto world. If Crypto market wants to become stronger, it needs to have real tokens with real world use cases. Meme coins should be part of history like the dinosaurs. Countries have started to reject to give license to crypto platforms. On the other hand Asia has started to support coins and platforms again. We may see another fight here. This war between west and east may accelerate the extinction of the useless coins. We will watch this critical level for the progress along with the bitcoin dominance CRYPTOCAP:BTC.D . Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
CRYPTOCAP:TOTAL3
by WhaleGambit
Meme Coins VS Web 3.0 Cryptocurrencies !I'm writing this article during the crypto selloff, almost as a joke, taking inspiration from the story of a trader who purchased a cryptocurrency known as SAFEMOON, basically a shitcoin: After remaining inactive for a period of two years, a significant whale recently sold 10,000 BNB tokens at a price of $230, amounting to $2.3 million. What's interesting is that this particular whale was previously involved in the SAFEMOON cryptocurrency and managed to generate a substantial profit of 110,000 BNB tokens, equivalent to $47.5 million at that time, with an initial investment of just 10 BNB tokens, valued at $2,400 back then. So he made $47.5 million with only $2.5 thousand invested, and now the project is dead! I remember this SHIB signal back in the days: I still consider it worthless, even if i bought it back then. I don't see any difference between SHIB, SAFEMOON, FLOKI, KEKE, and other crypto projects that are solely based on a community rather than focusing on developing the infrastructure of Web 3.0, similar to larger projects. There`s no intrinsic value in any of those. But opportunities will come!
Long
by TopgOptions
PEPE Coin | A Whale Sold PEPE at 52% Loss !A substantial loss was incurred by a whale who sold over 400 billion PEPE tokens at a 52% loss. The sale involved the transaction of 468.5 billion PEPE tokens, in exchange for 109 ETH valued at $190,000 and 237.5 thousand USDT. The unfortunate outcome of this transaction left the whale with a significant loss. On May 9, the whale withdrew approximately $890,000 worth of PEPE tokens from the KuCoin exchange. In my view, there appears to be a significant downward trajectory ahead. Looking forward to read your opinion about it.
Short
by TopgOptions
🔥 PEPE Leaving Oversold Area: Is This The Bottom?In my most recent PEPE analysis I argued that it was likely that PEPE was forming some kind of bottom. The initial trade hit SL due to it being a bit too tight. However, the second trade is still in profit and is currently looking great. For the people who missed the last entry, a new entry signal has emerged. - PEPE is leaving the oversold (<30) area on the daily RSI. - PEPE has formed a higher-low on the 4H time frame. Entry placed at 114, which is yesterday's local top. SL under the swing low, around 104. Target still remains at 200.
Long
by FieryTrading
15
🔥 PEPE Double Bottom Trade With High Potential RewardPEPE has been declining for nearly a month now. One would think that a highly anticipated token of this magnitude will bottom out at some point. This trade is based on the idea that PEPE will retest the fear bottom of 105, which will hold and cause a big bounce towards the 200 region, like it did immediately after the fear dump on 12-05. Keeping a tight stop at 99 to keep a very decent risk-reward of almost 16.
Long
by FieryTrading
6
Meme Coin Double BottomKEKE is a meme coin (the euphemism for shitcoin) similar to the new wave of no intrinsic value coins like PEPE, DINO and LADYS. They don`t produce any value in the crypto space, just speculation and FOMO from crypto degens. SHIB and DOGE are in the same category, just that they launched before memecoins were a thing. KEK KEKE market cap is lower than $2Million right now. Chart looks like a double bottom, don`t know who is still selling at this valuation. Could go to $0, is worthless anyway, or make a 10X at some point. Trade carefully!
Long
by TopgOptions
Bitcoin Bull Flag Chart Analysis ( Toward $41400 if hold Support BTCUSDT Technical Analysis Chart: A Bull Flag Formation Indicates Potential Upside Move In this technical analysis of BTCUSDT, we examine the current price of Bitcoin (BTC) and identify a bull flag formation on the higher time frame (HTF) chart. While BTC is currently trading at $27,300, there is a possibility of a significant upward move in the coming days. However, it's important to note that BTC is trading below the trendline resistance, which also serves as the upper side resistance of the bull flag pattern. This article will analyze key support and resistance levels and provide insights for potential trading opportunities. Key Takeaways: BTC is forming a bull flag pattern on the HTF chart, indicating the potential for an upward move. The upper side resistance level to watch for a breakout is $28,300. If the support level at $26,700 is breached, the next level to monitor is $23,800. Should BTC drop below $23,800, it could present a buying opportunity at $20,000. A breakout above $28,300 could lead to a bullish zone and a target of $41,400. Critical resistance levels to watch are $30,700 and $41,490. BTCUSDT Technical Analysis: The current price of BTC is $27,300, and a bull flag pattern is forming on the HTF chart. A bull flag pattern is characterized by a consolidation phase following a strong upward move. This pattern suggests that BTC may experience another significant leg up in the near future. Trendline Resistance and Upper Side Breakout: BTC is currently trading below the trendline resistance, which coincides with the upper side resistance of the bull flag formation. Traders should closely monitor the $28,300 level, as a breakout and candle close above this resistance could trigger a bullish rally. Support Levels to Consider: Support levels play a crucial role in determining the potential downside risk. The first significant support level to watch is $26,700. If the price closes below this level on the HTF chart, it may indicate a further decline towards the $23,800 level. Buying Opportunity at $20,000: In the event that BTC breaks below $23,800, it presents an opportunity to buy at the $20,000 level. Historically, this level has served as a strong support during previous bull runs, and acquiring BTC at this price could yield favorable results. Resistance Levels and Targets: A successful breakout above $28,300 could lead to a bullish zone and potentially propel BTC towards the $41,400 level. Traders should closely monitor the resistance levels at $30,700 and $41,490, as these are critical areas that could impact the price movement. Conclusion: Based on the technical analysis of the BTCUSDT chart, there are indications of a potential upward move driven by the bull flag formation. Traders should monitor the breakout above the $28,300 resistance level, as it could lead to further upside gains with a target of $41,400. It's crucial to be mindful of support levels, such as $26,700 and $23,800, as a break below these levels may signify a shift in market sentiment. This analysis serves as a personal view and should not be considered financial advice. It is recommended to conduct thorough research before making any investment decisions. Follow us for more Quality Analysis. Thank you.
BINANCE:BTCUSDLong
by CryptoPatel
2