Spread too thin
First of all, I bought too many shitcoins. Yes, I held 30-40 shitcoins. Which is a bad idea since all of them go in the same way as TOTAL3 goes. There are pros and cons of doing this.
Pros:
Moonshot coins: You spread the risk into various shitcoins. If you’re lucky, at least one of them will hit the moonshot and doing something like 50x, 100x or even 1000x and it will cover all the cost of spreading shitcoins
Experience: The more you learn, the more you earn. You spread it across the entire blockchain ecosystem. You bridged fund from ETH to SOL to BSC to TON and so on. This will make you learn a lot more. Not just the fundamental of each projects and protocol. But you also get to observe the narrative, culture, and other factors that driving the price of your coins.
Lucky Prize: Some of the project from different ecosystem might reward you via airdrop. However, it can’t be as much as dedicated airdrop hunter.
Cons:
Small capital: Holding 30+ shitcoins forces you to buy in a small size since it’s high risk. All of them are high risk, so you want to diverse the risk into various coins with smaller sizes.
Exhaustion: Babysitting your shitcoin’s portfolio is a lot of work. You have to constantly make a financial decision. Which may ultimately lead to poor decision.
Illiquid: You might want to stake some of your holdings. That will make you illiquid and you may miss out on other opportunities. Plus, some of the coins could get rug and exploit at any given moment.
That being said, I’m planning to sell all the shitcoins. HOWEVER, it might be too late. The best time to sell and consolidate all the shitcoin has passed. Now, it’s just a cut-loss selling. Luckily I hit some minor moonshot which made me just break even or roundtrip. Some people aren’t profitable even in the 1/3 bull run.
4 coins were exploited
the rest of them didn’t do well
few of them hit moonshot but not big enough
You know what saved me from getting rekt?
It’s taking profit
That’s the lesson. Plan for profit taking. Sadly, mine didn’t do well since it didn’t hit all the targets. But it good enough to save me.
Old Cycler Phase
Retail money not here yet. That’s why the market morph into meme season. Only degens knew that tech coin with low-float vesting can’t fool them.
Solana became the Las-vegas chain
Ethereum price getting slow + ETF delayed
Bitcoin dominance still flying (New money flooding through ETF)
These are just a few of the factors on why the price of altcoins facing massive price correction. Those who stay liquid and taking profit are surviving or even better, making gains. Because it’s old same people from the previous cycle PVP each other. They know the drills on low-float vs meme coins.