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Shitcoin is a derogatory term for coins or tokens without utility or real value. The crypto community often used the term for memecoins or other assets without a clear utility.

However, shitcoin is a very subjective term and it is often used jokingly. For example, some people call governance tokens shitcoins because they don’t capture any value from the network or provide any real utility. Some people won’t agree with this because governing a network can be considered as a value of decentralization.

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