Shitcoin is a term we hear more and more lately. Besides the name that alone tells you how people feel about those particular coins, surprisingly many people know nothing else about them.
We tried to identify the best shitcoins 2022 that can surprise us this year and see some massive, even if temporary, gains. Please note that chances for that are slim at best. Here is a shortlist and you can read detailed descriptions below.
1. Tamadoge
2. Shiba Inu (SHIB)
3. Dogecoin (DOGE)
4. Magic Internet Money (MIM)
5. Dogelon Mars (ELON)
6. Floki Inu (FLOKI)
Despite all the hate shitcoins get, it is possible that some of them will explode shortly or go to the Moon in crypto speak, just like Dogecoin did in 2020 or Shiba Inu in 2021, and now Tamadoge in 2022. If that happens, investors stand to gain incredible profits.
In the last couple of years, a new category of cryptocurrency appeared on the market. Generally known as shitcoins, they are best described as worthless coins with no future or no application whatsoever. Many of them are, to put simply, a scam devised by unsavory characters looking to fleece a few sheep and get their hands on some quick cash. Others represent failed projects or are made for their meme value.
A lot of people are obsessed with finding the "next big thing" that will rock the world and bring them a fortune. This is the main appeal of shitcoins, as people are desperate to believe pretty much anything if it is wrapped nicely enough. With more than 10,000 cryptocurrencies on the market as of February 2022, it is incredibly hard to decide which ones are real deals and which ones are scams or simply worthless.
The best way to recognize shitcoins is to visit their site and look through the documents listed there, specifically the whitepaper. A whitepaper is the coin's manifesto, detailing the founders' intent and specifying the roadmap that will lead to fulfilling their aim. This is usually when the first red flags appear.
For instance, a whitepaper can claim that crypto is the next Bitcoin that will transform the global payment system. But if it doesn't contain a specific list of problems the coin will solve, as well as ways of solving them, it is just empty talk. In other words, this is a clear sign that the founders have either no idea what they are talking about or are planning on running a scam on their investors. Both are good enough reasons to stay away from such coins.
Like any other cryptocurrency, you can buy shitcoins by using several methods. You will find below a brief description of our top selected shit coins and how to buy them.
Tamadoge is currently the most sought-after shitcoin of 2022. The whole world revolves around the Tamaverse, which is a universe where you will be able to breed, trade, and care for your Tamadoge on the go.
Tamadoge comes from the popular virtual pet called Tamagotchi, which was introduced to kids in the 90s. Just like the virtual pet back then, people can now take their doges and interact with them. It's a vintage/retro spectrum that brings the thematic to today's most favorite meme pets, the Corgi and Shiba.
Their use case is solid, and it appears that the doges themselves will be NFTs, which has drawn even more attention to investors. Tamadoge is currently on pre-sale, and like most coins, it's expected to launch and make big bucks for its early investors. Though it cannot be guaranteed, that is usually the case with most pre-sale projects. The team has already raised over $1million dollars in its first 2 weeks.
STEP 1
To begin, make sure you have a MetaMask wallet installed on your browser, or use one of the wallets supported by Wallet Connect (we recommend Trust Wallet).
Purchasing on a desktop browser will give you a smoother purchasing experience. For this we recommend Metamask.
If you are purchasing on mobile, we recommend using Trust Wallet and connecting through the in-built browser (just copy https://buy.tamadoge.io into the Trust Wallet Browser).
STEP 2
Once you have your preferred wallet provider ready, click "Connect Wallet" and select the appropriate option. For mobile wallet apps you will need to select "Wallet Connect".
You will then have 3 options
1. Buy ETH With Card. This option will allow you to purchase ETH that will be sent to your wallet by our partner, Transak. You will then be able to use this ETH to purchase TAMA. Click "Buy Eth With Card" to begin and follow the on-screen steps. We recommend purchasing a minimum of $15 worth of ETH to cover the minimum TAMA purchase.
2. Buy TAMA With ETH. Once you have sufficient ETH in your wallet (if you do not have ETH or USDT, please select option 1 to purchase ETH first), you can now swap your ETH for TAMA. Type in the amount of TAMA you wish to purchase (1,000 minimum) and then click "Convert Eth". Your wallet provider will ask you to confirm the transaction and will also show you the cost of gas.
3. Buy TAMA with USDT. Please ensure you have at least $15 of USDT in your wallet before commencing the transaction. Type in the amount of TAMA you wish to purchase (1,000 minimum). Click "Convert USDT". You will then be asked to approve the purchase TWICE. The first approval is for the USDT contract and the second is for the transaction amount. Please ensure you go through both approval steps in order to complete the transaction.
STEP 3
Once the presale has concluded, you will be able to claim your TAMA tokens. We will release details closer to the time, however, you will need to visit the main site https://tamadoge.io and click on the gold "Claim" button.
Shiba Inu exploded in October 2021, after Elon Musk tweeted about it. And that is all you need to know about this token. If a single celebrity tweet is enough to send it to the Moon, that probably means it is a memecoin. However, even today, Shiba Inu retains a significant market cap of over $13 billion, meaning that a lot of people are hopeful that the coin will bounce back from its current price of $0.00002388. The daily trading volume was more than $750 million, indicating a strong interest in the coin. Take a look at this article on how to buy Shiba Inu in 2022.
Cryptocurrency markets are highly volatile and your investments are at risk.
Dogecoin has fallen off sharply from its heyday in May 2021. Hyped by various TikTokers and self-styled Dogecoin daddy Elon Musk, the token reached a value of $0.55, a huge rise since January, when it was worth just $0.01. At the moment, it is priced at $0.122435, but with a market cap of over $16 billion.
Cryptocurrency markets are highly volatile and your investments are at risk.
Magic Internet Money (MIM) is a stablecoin, and as such, its price always fluctuates around $1, as it is tied to it. At the moment, it is $0.9982. It was touted as the stablecoin of the future, but little is known about its founders, so it failed to get any serious traction with the market. Still, that can easily change, as MIM is still present on the market and a daily trading volume of over $15 million indicates some activity.
Cryptocurrency markets are highly volatile and your investments are at risk.
The spinoff of more famous Dogecoin, Dogelon Marsis a highly volatile coin that is considered a high-risk investment. In other words, it is a typical shitcoin. The founders tried to play on Elon Musk's popularity, so far with little success. However, the trading volume of over $5 million daily may be indicative that something is happening and at a price of $0.0000007468, ELON is a tempting proposal.
Cryptocurrency markets are highly volatile and your investments are at risk.
The coin got its name from combining the name of Elon Musk's dog and the popular Shiba Inu coin, to create an illusion that the project is supported by the famous investor. Despite that, it has managed to gather the interest and even trust of some key people within the crypto community and that may be its ticket to success.
Cryptocurrency markets are highly volatile and your investments are at risk.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.