Some friends enter the cryptocurrency world and find that investing in Bitcoin is too slow to make money, so they take a wrong turn and frantically bet on dog coins.
What is a dog coin?
It refers to some funding schemes and scammers randomly issuing a coin on the Yuan public chain in the crypto world, packaged by a professional team, and promoted in various communities. These coins have skyrocketed hundreds of times during bull markets, so many naive investors choose to take a gamble.
Especially dog coins introduced by acquaintances or experts have a fatal attraction for them, leading to a frenzied investment in hopes of buying several houses in one go.
Although there are people who make money investing in dog coins, in my experience, I haven't encountered anyone who has made a profit; all have come up empty-handed.
Maybe one moment, the project team of the dog coin is still painting a beautiful blueprint, and the next moment it has already collapsed, and all the coins instantaneously drop to zero.