Hello steemians🤍

I hope all will be fine and enjoying your life by the grace of God and doing great work on this platform and in this community.
I'm also fine and enjoying life by the grace of God and doing great work on this platform.
Today I will be posting my Homework.
I will be answering a few Questions and how to profit from it.

Question-1: Explain your understanding of What a Shitcoin is?

Answer: There are 4000 different crypto currencies in crypto market. All coin
can't be stable as the popular of one likes Bitcoin, Ethereum and Binance smart chain. There are some crypto currencies fall under the category those we call Shitcoin.

This is combination of two different words.
"Shit" means given to anything that has literally no value. And
"Coin" means Currency. That's mean the word Shitcoin means have no solid project to support themselves with.

Shitcoin can developed by anyone as a result of crypto market in lack value. Because of how to easy develop a Shitcoin, but there are many scams out their trying to valuable digital currencies.
Spotting a Shitcoin can challenging very time. There are no features and rules order to label a coin as Shitcoin.
Some believe that it is the type of Bitcoin is a Shitcoin but it's little bit extreme. Shitcoin as those coin that have labeled as in scam(personally agreed). Shitcoin are those coin that lack stable projects. There are few Shitcoin that actually become successful.
For example; the Dodge and Shiba Inu.

Question-2: Do you Think it is possible to profit from investing in Shitcoin?

Yes I Think! Investing in Shitcoin can be very profitable. There are many investors who trade the base on speculation in crypto market.
Often a times, we can see increase coin two,four and eight time their value and most of these coin are Shitcoin and that are suddenly boost in price.
Example is Shitcoin their are increasing their prices day by day are the Dodge and Shiba Inu.
These Shitcoin has no basis and strong project on the world post biggest platforms.

However, trading Shitcoin are mostly done in mere speculation. That market could go either way where you can loss your money or make huge amount of profit.

Question-3: List advantages and disadvantages of investing in Shitcoin.

Advantages

• Sharp increase in prices:

On of the most advantage of Shitcoin in which our price increase sharply. We all know Shitcoin have little value and such can be obtained low prices. When the price spikes up, it's back to huge return.

• Low prices:

The prices of Shitcoin are extremely low with little investment, one can hold a big volume of these coins.

Low investment,huge return:
The prices of Shitcoin are extremely low.
When someone little investment and can hold a big volume of these coins.

Disadvantages

• Profit are not with guaranteed:

Investing in Shitcoin means chance you can profit from it. But the profit can't be with Guaranteed. There is also a chance we lost all money which is invest. That's why someone to Invest money if you want afford loss.

• Scams

Most Shitcoin are seen as scams. It is very easy to anyone develop a Shitcoin and other stable projects. Research before you invest in any Shitcoin can never be overemphasized.

Question-4: Of at least 3 examples of Shitcoin that have been scam, and also explain what they consisted of

• Squid Inu

The squid Inu was built on Ethereum Blockchain. It was released in popular TV show Squid Game in 2021. The coin become famous and attracted investors showing great potential it showed was 3000% increase in price.
Just after few months all investors begin to receive a stories know the website was hacked and all. All this point the coin was already gone and people's assets along with it.

• Trukey Inu

Turkey Inu was built on the Binance smart chain network. After it's release, it showed great potential which attached the investors to pump money in it. After some time they did away with many peoples assets.

• Shiryo Inu

Shiryo Inu was built on Binance smart chain network. This coin was 5 network addresses
Three of this was genuine but two are scam. Most people forget the copies of genuine project. In this case of shiryo Inu, two copies were made of it.

Question-5: Explain at least two examples of Shitcoin that have been successful and are currently keeping it. Other than (Dogecoin or shibainu.)

• Floki Inu

Floki Inu coin persently stands at position #2853 on coincapmarket. The name floki was actually inspired by the famous billionaire Elon Musk's nick name Floki.
The coin was made by the supporters of Shiba Inu.
Unlike other Shitcoin the Floki coin is partnership with other projects. Floki is partnership with various graden movements in order to solve food insecurity problem. This is being run by kimbal Musk.

That's not all, the Floki coin provide us another upcoming project like,NFT, Floki Inu and the NFT gaming.

• Baby Dogecoin

A lot of crypto currencies where was inspired where Dogecoin after it's increased in price.
The crypto market can be influenced by many factors. Baby Dogecoin witnessed a massive 1000% increase its price in just two weeks after tweet from famous billionaire Elon Musk's in June 2021.
24 hours after that tweet baby Dogecoin increased in cost of 228.3%.

Question-6: Perform a historical analysis of the prices of any of the cryptocurrencies that you choose for the previous question. (Use screenshots).

All time chart, that I above given you of Floki Inu. We pay attention closely we would notice that the movement of the Floki Inu.
The toke price was listed at $0.00000002 at August. After a period of time price being to move in a bullish direction, attraction to investors to pump a money in.
November 4th 2021 with a price of $0.003437.
This means investors invest money initial stage and get huge profits.
After hitting in November it's all time, the token began dip.

However the token was still able to maintain it's standard and as the time of writing as the article
the price was $0.0001025.

Question-7: Based on your previous analysis, what do you think will be development of the price of the cryptocurrency for this year? Be creative when explaining.

When the previous analysis made on the Floki Inu token. It's price from movement it was released show that Floki Inu going to around for a long while.

The Floki Inu coin inspired by Shiba Inu. In this case both coin under the influence of billionaire Elon musk. The Floki coin unlike other Shitcoin is in partnership with other project which is definitely make it more stable coin in soon feature.

The Floki Inu project has a metaverse and an NFT. We already know about the project in NFT tend to be solid rock. The Floki project also has various gaming DApps where user can acquire NFTs.

Here Floki Inu token proves to stay and those for who decide to invest in it are sure to make to profit for long time.

Conclusion

Through the course of this lesson, I have come realized that Shitcoin are not bad as people make them seem.
But investing in them very risky . Just as the possibility of making profit, there's also a chance of lossing their investment.i

I'm also learned that Shitcoin have their pros and cons. Before investing everyone knows their advantages and disadvantages.
We also listed few Shitcoin that where scams and did away many people assets with them.
We also saw two Shitcoin that came up from nothing and become successful.

I'm very thankful to @nane15 for opportunity to learn about what is Shitcoin and How to profit from it.

Thank you ❤️

Regards,
@sameer07