Cryptocurrency Terms You Should Not Miss! (Part 3)

Cryptocurrency Terms You Should Not Miss! (Part 3)

Continue exploring the most common terminology with GameFi.org. If you miss the previous parts of this series, see Part 1 and Part 2!

16. Moon/Mooning

When a cryptocurrency is mooning, it signifies that its price is so sharply rising that it is metaphorically traveling to the moon. This term is used to characterize a cryptocurrency that is anticipated to have a significant upward market trend. Investors looking to time the best sale of their bitcoin to receive the most price for it might utilize this event to help them.

17. NGMI/WAGMI

NGMI stands for ‘not gonna make it.’ When it comes to cryptocurrencies, it's frequently used to foretell future failure as a result of bad decisions, such as selling a token at the bottom despite all indicators from the market indicating its value is rising.

WAGMI, on the other hand, stands for ‘we’re all gonna make it.’ The crypto community frequently uses the term to promote positivity and trust in a project. It is also used to inspire the neighborhood to stick together and never give up.

18. No-coiner

A person who has a negative view about cryptocurrencies and thinks they have little to no value is known as a "no-coiner." No-coiners don't keep Bitcoin (BTC), Ethereum (ETH), or any other digital currency in their portfolio because they believe that cryptocurrency is doomed to fail.

19. Normie

A conventional thinker with little or no awareness of cryptocurrency.

20. Pump and Dump

Pump-and-dump schemes are a sort of fraud that entail artificially increasing the price of an asset by providing false or misleading positive information. Typically, a group of people would acquire huge amounts of a specific asset at a cheap price all at once, pushing up demand and price.

This sudden increase in price will drive others to step in and buy as well, and the initial group would then sell (dump) the assets to make a quick profit, leaving others who bought late with large losses.

21. Rug/Rug Pull

A rug pull is a form of cryptocurrency fraud in which a development team abandons a project before it is done, draining all assets and leaving investors with worthless money. Its name comes from the phrase "drawing the rug out from under someone." Scam victims would claim that they 'became tough.

22. When Lambo?

'When Lambo?' means 'When are you going to buy a Lamborghini?' It's used humorously to ridicule those who are solely concerned about the price of a coin.

In the early days of bitcoin, many affluent cryptocurrency investors bought Lamborghinis as a prestige symbol to demonstrate their market prowess. Following that, Lamborghinis became linked with cryptocurrency success, with many in the community asking when a crypto investment will be valuable enough to buy a Lamborghini using the crypto slang phrase 'When Lambo?'

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