Examples of altcoins like ApeCoin and Dogs Of Elon failed to reach their scam and demonstrate their viability as an investment.
Tokens hit hard by crypto winter
The ongoing lawsuits, layoffs and prolonged crypto winter have had a significant impact on the market. Top cryptocurrencies have seen their values drop by more than 90%. The total crypto market cap has dropped below $1 trillion.
One of the reasons the crypto industry has seen the worst blow could be a series of digital currency projects that fell short of expectations. Analysts this week shared a list of meme tokens to avoid adding to their portfolio.
5 altcoins that the analyst warned
Dogs Of Elon
In the last 7 days, this meme coin has only seen red. As we noted on cryptokoin.com, the bearish DOE has lost about 98.81% of its value and is currently trading at $0.0001587. It is neither a popular meme coin nor a huge following. According to Wallet Investor’s AI cryptocurrency analyst, the DOE has a negative outlook and will follow a negative trend in the future.
fron
The FRONK token went into circulation after the developers behind the Solana-based meme coin BONK burned an allocation of 5 trillion BONK tokens. FRONK is the latest addition to the cryptocurrency market but has miserably failed to prove its strength. Fronk’s current trading price is $0.00000005123, and its price has dropped 30.21% in the past seven days.
DOGGO
This meme coin is currently trading at $0.00000003143, down 51.92% in the last 7 days. According to CoinMarketCap, this coin is only listed on three exchanges, MEXC, Raydium, and Orca. Oda is one of the meme coins you should avoid adding to your portfolio this week.
ApeCoin
ApeCoin (APE) is a meme coin associated with the Bored Ape Yacht Club (BYAC) NFT. It is the utility token of the APE ecosystem with its own DAO, Apecoin DAO. $APE has lost about 80% of its value from its ATH. It is said that ApeCoin is not worth buying until it shows tangible value and benefit.
Samusky
This meme coin is currently trading at $0.00005466 and its price on exchanges has dropped 19.49%. SAMU’s trading volume remained very low, hovering around $406.68 in the last 24 hours. SAMU is among the meme coins that will continue to decline in the future, according to Wallet Investor’s AI cryptocurrency analyst.
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