5/6/2023 0 Comments Reddit crypteyTo save you time, here are two of the top trades on their radar right now. Instead, the leading traders are spread among various subreddits - r/CryptoCurrency, r/CryptoMarkets and r/Altcoin, among others - as well as Twitter (NYSE: TWTR) and Discord. And single-token forums such as r/SafeMoon cater to diehard fans who have never considered the word “sell.” Lightly moderated subreddits like r/CryptoMoonShots tend to draw spam by self-promoting cryptocurrencies. “Safemoon bag holders admit losing $100,000+ and congratulate each other for having ‘diamon hands’! CANT MAKE THIS S**T UP” The CryptoMoonShots of Redditīut tracking these crypto Reddit traders isn’t quite so straightforward. And many of these same investors have no love for SafeMoon, Tron (CCC: TRX-USD), EOS (CCC: EOS-USD) and yes, even Dogecoin, due to their lack of development (Cardano and Solana (CCC: SOL-USD) are also notoriously hard to program). Many began replacing Cardano (CCC: ADA-USD) with other altcoins two weeks ago, just as I was recommending Moonshot investors do the same. The best of these Reddit investors also know when to sell. And SafeMoon’s (CCC: SAFEMOON-USD) 125x return rewarded at least 1 million active wallets by the time the token peaked in April. A quick check of public ledgers shows that Dogecoin’s (CCC: DOGE-USD) rise from 0.01 cents has turned at least a thousand DOGE millionaires into U.S. Source: Catalyst Labs / Reddit Cryptocurrencies on the Riseįor some lucky souls, Reddit has provided a golden ticket to financial freedom. Many holders have likely seen a chunk of their holdings vanish into thin air.īut why do so many investors jump headfirst into these Spamcoins? With almost every other option looking just as bad (more on this later), perhaps the question we should be asking is: why don’t they? Gravitoken now boasts more than four times the number of holders it did ten days ago, even as its token count has shrunk from 6 trillion to 1 million. That hasn’t stopped retail investors from jumping in. The dev wallet has cashed out at least $45,000, while other closely controlled wallets appear to have earned even more. And careful readers will notice that another 3.27% of transaction fees are unaccounted for.”įast forward to today, and the only clear winner from the project has been GRV’s anonymous developers. Rebasing a currency means affecting every user unless the token buyback (set at 3.27% of transactions) covers the amount. “Whose coins get burnt, however, isn’t so clear.
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