It’s been a tough year for cryptocurrency investors. Market leader Bitcoin (BTC) is down more than 70% from its all-time high. As a result, many other altcoins have seen even greater losses. We are in a bear market and it is not yet clear when prices will start to recover. However, there are some altcoins that are likely to crash that you should not invest in even if prices go up. According to a new post, SHIB is among them.
“Stay away from SHIB and these 3 altcoin projects”
Many crypto experts see prolonged price drops as part of a natural cycle and time to weed out less realistic projects. This means that if the projects that are weeded out are those in which you invest your hard-earned money, you will suffer a lot. For example, when some cryptocurrency lending platforms crashed, people lost their capital invested in them. As Kriptokoin.com, we have compiled the cryptocurrencies that the consulting giant Motley Fool recommends you stay away from. Among them is SHIB.
Terra (LUNA) and Terra Classic (LUNC)
There are plenty of smart contract cryptos to choose from. However, people are turning to these two altcoin projects that have proven to be unsuccessful recently. From crypto giant Ethereum (ETH) to fast Solana (SOL) or flexible Avalanche (AVAX), developers are building decentralized finance and other projects in several different ecosystems. Each has their own strengths and weaknesses. However, almost all of them have a better chance of survival than Terra (LUNA) and Terra Classic (LUNC).
After Terra’s collapse, Blockchain split into Terra and Terra Classic. Both are trying to be reborn from their ashes, but both face certain challenges. For starters, there is an arrest warrant in South Korea for Terra ecosystem co-founder Do Kwon. It’s unclear how much he was tied to LUNA 2.0, but the rebuild was his idea. However, Terra Classic is managed by the community. But it still depends on the model we’ve seen crashing before.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a popular meme coin that rose to fame last year following the success of Dogecoin (DOGE). So what’s the problem? Namely, a bear market is not a good time to own meme coins. There are a few big issues that even the rising popularity of the SHIB token can’t hide. First, meme coin founder Ryoshi decided to leave the project earlier this year. If you’re going to fund a crypto, find out who’s behind it. It is still unclear who manages the SHIB token at this time.
Adding to the uncertainty in the team there are too many tokens in circulation. The project came to life with a quadrillion token offering, giving half of them to Ethereum founder Vitalik Buterin. Not a fan of random projects that gifted him with tokens, Buterin burned some of the SHIB and gave the rest to charities. However, this means that there are still a lot of tokens out there. If these are not enough, also look at the development of the project. Shiba Inu claims to produce a Metaverse game and a layer-2 solution. However, there is no clear development yet.
Bitgert (BRISE)
Several crypto articles promote Bitgert as a fast, low-cost alternative to Ethereum. But when you look at the project, a series of alarm bells start ringing in your head. For example, there is no information about the founders on the website. Earlier this year, the team felt the need to tweet that they would only reveal the identities of the team after accusations that the information was fraudulent.
By the way, the project’s website has extremely bad English. When you look at a project, you expect an error-free article, but Bitgert does not have it. Also, peer sites say that Bitgert spends 3% of their transaction fees on marketing. Even that is enough for a rug pull alarm. Finally, Bitgert’s Whitepaper is only 6 pages long. The project claims to be faster than Solana. But it doesn’t explain anything about how it does it.
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