Is Clucoin Scam {May} Read About The New Digital Token!>> This post give detail of a digital currency launched recently and has reached a decent valuation within a week.
A cryptocurrency Clucoin launched on 19th may 2021 was having a fully diluted market cap of 136 million dollars on 20th May, and its current market cap is 200 million dollars. This rise in the valuation of the new token has made experts in the United States suspicious about this coin.
Is Clucoin Scam or expert are unnecessarily suspecting a potential coin with a noble cause is topic of discussion of this post. In general, crypto coins are risky ventures, and people can lose money in no time.
What is Clucoin?
It is a token coin launched on 19th may 2021 by DNP three as given on Twitter, who claims to be a software engineer and has a keen interest in online gaming. The community backing it has the noble purpose of doing charity work for needy and poor people.
Is Clucoin Scam the question discussed on social media platforms due to its overnight price rise? Investors and experts are suspecting it to be another scam coin with the sole purpose of making the developer rich.
Its current price is .0000000211 dollars and is down by 18% on the previous close. It has a market rank of 2647, according to coinmarketcap.com. Its trading volume is down by 80%, a sign of profit booking by the retail investor.
Is Clucoin Scam?
As market regulation for digital currency is almost negligible, scammers want to cheat genuine investors of their money. In the past, many scam coin has flooded the market to make their developer rich and after that dumping the coin.
Clucoin is designed in such a way that it promises to reward the holder while taxing the investor who wants to sell the currency. This approach of the coin is known as multi-level marketing, and one investing earlier will gain, which will also push the price of currency up due to a fall in selling.
Things to Consider While Deciding Is Clucoin Scam or not:
Any cryptocurrency can be a scam, but we should consider certain things before concluding:
- Is it backed by some known community, or people developing this currency are a new one?
- Look for the financial concept behind the crypto like decentralized finance, elastic finance, or capped currency.
- Look for consumer protection in the asset you want to invest if it is giving a high return.
- During the early stages of a coin, price volatility can be a sign of a scam as a developer is trying to inflate the price rather than leaving it on demand and supply.
- If the developer promises a very high return during the initial launch stage, don’t buy their argument blindly. You can check this link to know more about the Clucoin.
Final verdict:
Is Clucoin Scam or legit is not an easy question to answer, but its certain features have raised the eyebrows of experts and opinion-makers in the United States. New investors should remain away from this coin, while regular investors should research this currency before committing their money.
If you are a crypto investor, please share your views on Clucoin in the comment section and give your opinion about this post below.
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