My wild ride with a shit coin

This took place over Memorial Day weekend, which feels like months ago, but was really only weeks.

It all started as a half drunk bet between my boyfriend and I. I could double our money in less than 24 hours. I like games and I sure as hell like a good gamble. And that’s what shitcoins pretty much are. Sure, every coin has to start somewhere but unfortunately, scammers have made it hard to pick out the legit ones.

I was wanting a gamble though, so I didn’t care. I’m going to name the coin because it’s now worthless but I think it’s a good idea to say it. It was a sexy name and can easily be used again in a scam. Frostfire.

I found it at around 6pm on the day it launched. It was around 10 minutes old and only had a few wallets. I searched Reddit and google. Nothing. I bought some anyways. I wanted a gamble. I put $50 in and got 1 trillion coins. Sweet.

Fast forward to an hour later, I was up double my money. My boyfriend told me to pull out but I couldn’t. Fomo was real.

Another hour later I was up to $200. Boyfriend told me to pull out but I definitely wasn’t at this point. And I found a telegram for it.

Fast forward to 4 hours later and I believe I was up to $1k. My boyfriend was sleeping and I was riding this out.

8-10 hours after putting $50 in, the market cap hit 1million. My $50 was now over $5k. I couldn’t pull out at this point. I was so sure I’d hit the jackpot. I felt like those damn baboons that fall for the salt traps in the Amazon. I thankfully pulled out $500 just in case.

I woke up the next morning to it being down to $2k. Not great but it’s ok. It’s only stabilizing I told myself. The dev got active on telegram and a bunch of people started buying again. Back up to $4k almost $1million mc.

There were a lot of red flags on telegram and a lot of bots in the Reddit comments but I chose to ignore them. Then over the next day we got slowly rug pulled until my $5k was worth $200 that I managed to pull before it was completely worthless. The dev deleted the website and telegram.

Ouch. I spent the next week trying to find the next Frostfire and lost about $200. And then I just started looking up new coins on bscscan and lurking the telegram and poocoin out of curiosity. I made a rule that no matter how much I believed in a coins potential I wouldn’t buy a brand new shitcoin until it survived the first week at least.

Guess what? They never did.

My advice? Don’t put your money into a coin unless it’s been audited. I did my homework every time and even when there was a burn wallet and no major whales, a liquidity pool, a rug pull always happened.

And if you’re going to anyways, expect your money to be gone.

Best way to get rich? Do some good DD and put any money that you don’t need into some projects that have a purpose or aim to satisfy a need. And don’t ever chase losses.

If you’re still here, have a great weekend and feel free to share your story if you have one.