So how does the "Too the Moon" bait works? This Coin will Go "To the Moon"

Have you seen Telegram companies? Everyday I see someone promoting their token on ethereum or binance. They are showing the promise of "to the moon" with every of them selling the coin. More deeper you dig you recognize that they may be missing use case and they may be just pumping up charge till they are able to make the exit. And increase! The coin goes down and so does your investment.

So how does the "Too the Moon" bait works?
This Coin will Go "To the Moon"

Let's take an example of ways the coin is being promoted. You discover some telegram group, forum, reddit or some social media thread. Where this coin is being promoted. Number of fake bills will begin to guide this coin. Some can be bots or maybe paid posters who're supporting this coin. All of them are the usage of references of Elon musk or maybe a few different massive rich man. Giving "regulation of enchantment" advice at the same time as residing their whole day on the net and talking about being wealthy and considerable lifestyles.

You can without difficulty see thru some of these symptoms as this can come to be a rug pull coin or token soon.
Use "Doge" or "Elon" in the Names of Token

There has been a massive trend recently making use of the Elon musks call whilst freeing the new token. A lot of humans have also attempted the use of the call of the dogecoin and doge particular breeds for growing token and building the atmosphere across the equal. Guiliable people fall for it. Like if there's association of tesla, elon and dogecoin round this new coin, then yes it's going to go to the moon and our investment might be double.

A lot of human beings are still looking forward to dogecoin to become 1 dollar. Sure there re a few human beings profiting out of it however it's not the coin of guarantees and rich. It's basically a grind cycle "first come first take out" device.

It'll have Use Case in Near future

It's been years since Shibanu is launched, Dogecoin is released and lots of other cash released within the market. Yet there's a lack of use case. There are stores and the offerings that make use of those coins however it is not surely profitable in context of the rate. We hold to pay attention the preachers of these cash telling us that those tokens and the coins will have a future.

But while? When it'll have a destiny? I don't suppose a number of these underneath 10 cents coins could have robust destiny. It's all threat and cycler sport until it gets popularity once the law kicks off.

You Put in Money, I Go to the Moon

Let's imagine the situation in which your cash is caught into the coin. And you want to make an exit and be achieved with that coin. What might you do? You need other people to make investments into such cycler device get your funding pumped up. And then make the go out and others would do the equal until the coin is flat dead. Sounds familiar? Yes network advertising and the MLM systems paintings the identical way. Remember the LUNA and other token massacre that takes place whenever someone makes a mistake of joining due to the fact others convinced them to do.

What should You Do?

I talked enough about the traps and now allow's communicate approximately what you as an investor must do. Here's my technique in investing into crypto.

Make sure coin has a use case. Tokens too need that.
Make positive large company make investments into it.
Make sure to make an go out by using having specific price in mind and making exit after attaining.
Avoiding long term keep on tokens, as they may be layer 2 and infrequently really worth long term.

Again my system works for me. It won't be just right for you. Next time someone comes to you with the promise of "To the Moon". Make certain to recognize that it is a trap.