If at the dawn of cryptocurrencies they could be counted on one’s fingers, then the count went into the hundreds, and now it’s hard to say exactly how many there are – thousands, or maybe even tens of thousands. At the same time, most investors know only a few dozen, the most advanced – a few hundred. All other altcoins are known in a very narrow circle, are hardly traded on major exchanges, and have low liquidity – they are called shitcoins.

They can be divided into several categories:

All of them occupy distant positions in the rankings and are of little interest to anyone. At first glance, it may seem unclear why one should pay attention to such coins when there are those with serious fundamental value and popularity in the community. But in reality, an experienced speculator can extract huge profits from some shitcoins – precisely because of their low liquidity. After all, even transactions for relatively small amounts can significantly change the value of these coins. But this requires considerable skill, as almost everyone holding shitcoins dreams of getting rid of them – which means that buying a shitcoin is usually easier than selling it.

In the traditional stock market, there is a penny stock strategy – buying unpopular and cheap stocks in the hope that if at least a small portion of them takes off over time, the profits will outweigh the losses from the rest. There are people who use this strategy in the cryptocurrency market – buying a large number of various shitcoins. The chances of at least one of them skyrocketing are real: they may have potential that the market will notice over time, or someone might simply decide to pump one of the chosen coins to make a profit. Given the volatility of cryptocurrencies, even one successful coin can cover the costs of buying hundreds and bring in profit.