My opinion on Snake Wif Hat – $SSSSS and current situation of this coin

It’s a bit longer, but I’ve probably said everything I ever wanted to.

I’ve been holder of Snake Wif Hat since about day 2 of it’s launch. I’ve been there through every big pump and every major drop. I was there when it crashed from 18mil mc to 1mil mc in literally minutes, only to bounce back to 10mil just as fast. So here’s my opinion on SSSSS:

I stopped believing in this coin a month or two ago. The only reason I stayed holder was because I bought it at like 300k mc and didn’t invest much more at higher mcs, unlike others who put their entire month salaries into it. I secretly hoped this downward momentum would reverse and we’d see some light pumps, especially after the Chinese New Year but that never really happened.

I don’t feel like the team has done much to promote this coin to new audiences beyond putting up a few posters in cities by community. They’ve never paid for ads, and when you suggest it, they say they’re waiting for the “right moment.” When was a better chance to invest in ads than during the Chinese New Year? They promised us big marketing, including targeting in China’s market, but for some reason it never really happened, as far as I know. They keep telling us to do our daily, raid everywhere, and do all sorts of things, basically doing free work for them, while they haven’t invested much themselves. For example, Instagram account that was created a few days ago still hasn’t been updated and important details are missing. I don’t think it takes much effort to add things like where the coin can be bought and similar details.

Whenever I had doubts and asked some questions, I was accused of being a fudder and jeeter, so I stopped speaking in Telegram chat a while ago. Most of the people who were around from the start and who I saw regularly in chat are gone now, I wonder why. I’m not saying the current team in the chat hasn’t been around for a while, they definitely keep good vibes going, but as long as the questions aren’t about coin’s future.

Most people are staying because they invested when mc was much higher and they don’t want to exit with loss. Team and people in chat keep telling you to “buy the dip” or that we’ll never get a better price, yet mc just keeps going lower and lower. They are convincing those already at loss to invest more, even when some of them put their life savings in it and claiming it’ll blow up any day now. But I don’t know, over the last two months, this coin has been slowly dying, and I’m tired of pretending otherwise.

Every time the coin looked like it was about to take off, someone would cash out all profits, and team would blame random person, mock him in chat, make fun of him and say how much he lost on other coins, claiming that if he had just stuck with SSSSS, nothing bad would’ve happened. It seems like most people are catching on, and the only ones left are the team, who constantly try to convince you to invest more, and those who bought in at higher mcs, also trying to convince you to buy the “dip” because they want to get at least some of their money back or are looking for exit liquidity.

I’ve stopped being emotional, just like everyone in the chat always says when you doubt about something: “Stop being so emotional in crypto.” The only thing that kept me holding onto SSSSS was emotion, but I started looking at it more realistically and my realistic conclusion is this.

The coin has been struggling for a while now, with each small pump then getting sold off. Holder count is slowly decreasing, and energy especially in chat isn’t what it used to be. It feels like momentum has faded, chat is getting less and less active, raids are decreasing and instead of growing the community, we’re losing members.

Everything feels half-done, things get started but never really finished. For some, it might be enough that the team is active in the chat, but unfortunately, that’s not enough for me and I know I’m not alone. It feels like it’s always the same small group of people talking, and half of them are team. I know almost every coin is in red, and we’re in what you call the trenches, but this was happening even before this situation and like I said, I’ve been watching this coin slowly dying for like 2 months.

Just to be clear, slow rugs make much more money than if you had just pulled rug at like 20mil mc and let the coin die right away. You can keep draining money from unsuspecting people for months, especially when you build a strong community like cult around it.

After this message, I don’t expect anything from the team other than laughter. I just wanted to share my opinion on why I decided to take my profits and why people shouldn’t trust random strangers on the internet with their money. It’s extremely painful for me to see this coin dying, especially knowing how much money some people put into it and after I put so much faith into this community. I held for so long, even though I could have run away with much more a long time ago. I spammed, raided, spent most of my free time in the chat, and genuinely believed this was one of those rare coins, not just another money grab. Unfortunately, after watching the chat over past month, seeing team’s inactivity and shrinking community, I was forced to stop believing. I know I’m spreading FUD, but at this point, I don’t know if it’s FUD anymore or rather realistic view of the situation.

I’m not saying this project is a slow rug pull, and I don’t have any proof of that. I’m just sharing my opinion and explaining why I won’t be part of SSSSS anymore.

This is what I had on my heart, how others interpret it, is up to them.