Popular Shiba Inu marketing lead, Lucie has unveiled a comprehensive guide to investing in meme coins, offering detailed steps and emphasizing the risks associated with such ventures.
Do’s And Don’ts Of Meme Coin Investing
In a recent X (formerly Twitter) post, Lucie revealed a blueprint for meme coin investments, providing a road map for investors and crypto enthusiasts looking to navigate this complex market. The SHIB influencer disclosed that meme coins should not be regarded as conventional investments, but rather as a fun venture within the cryptocurrency space.
She shared a screenshot outlining five essential aspects of meme coin investing, compiled by Shiba Inu team member Da Vinci. The first step of the guide highlighted the necessity of understanding the risks and high volatility characteristic of the meme coin market, accentuating how these coins frequently undergo swift price fluctuations.
Lucie further disclosed how much meme coins were subservient to social media. According to the SHIB influencer, the price of meme coins is greatly influenced by intangible factors like celebrity endorsement and social media trends. This highlights the possible absence of an intrinsic value in these coins, amplifying the potential for increased risks.
In stressing the dangers associated with meme coin investments, the Shiba Inu team has also provided important advice to investors looking into this market. They urge crypto enthusiasts to thoroughly understand the fundamental principles of a meme coin, along with its community dynamics and market trends, before making any investment decisions.
Further highlighting the need for risk mitigation, the team has stated the necessity of utilizing only expendable funds for meme coin investments. They stressed the importance of responsible investing, urging investors to base their decisions on solid research rather than market hype. By adhering to these guides, investors may potentially avoid unnecessary risks in the market, while also optimizing their investment strategies.
Shiba Inu: More Than Just A Meme?
Starting as a humorous project developed by an anonymous individual or group identified as “Ryoshi”, SHIB began its journey as a meme coin, distinguished by its speculative nature and comedic mascot inspired by the Shiba Inu dog breed. However, over the years, the cryptocurrency has been making serious efforts toward differentiating itself from others, adopting a unique three-token structure, cultivating a vibrant community and showcasing its versatile use cases.
In light of these developments, Lucie has boldly declared in a recent X post, that SHIB has finally transcended the meme coin label. The Shiba Inu marketing influencer pointed out that the cryptocurrency has secured a position among the top 11 altcoins in the space, underscoring the token’s growing popularity and possibly promising trajectory.
She has also expressed optimism concerning SHIB’s ability to evolve into a governance token, potentially granting holders the opportunity to participate and vote on the decision-making processes of the Shiba Inu ecosystem.
SHIB price at $0.00002783 | Source: SHIBUSDT on Tradingview.com
Featured image from Yahoo Finance, chart from Tradingview.com
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