In a recent article, Investorplace analysts discussed 3 altcoin projects that exhibit risky and sudden moves for investment. The list includes projects and unstable cryptocurrencies that lack real utility.
According to Investorplace analysts, “3 altcoins you need to sell before they hurt your portfolio”
Dogecoin (DOGE)
According to Investorplace analysts, Dogecoin should stay out of the investors’ portfolio as an altcoin that serves no functional purpose. However, this shortcoming has not stopped investors from continuing to collect Dogecoins until now. DOGE has reached historical heights as the cryptocurrency that Elon Musk once launched on social media. It is currently trading at more than 90% discount from this level.
All in all, Dogecoin is an unstable cryptocurrency that should be avoided as its charts show. Therefore, it is at the top of the cryptocurrencies to be sold this year, according to Investorplace analysts.
Pepe Coin (PEPE)
When it comes to volatility, PEPE outperformed Dogecoin at one point. This frog-themed meme token, like all meme projects, serves no real purpose. Also, it has been rising and falling in extreme price movements in recent weeks. The PEPE price has gained more than 2,000% since the exit price. As can be seen from the chart below, it is currently in a downtrend similar to Dogecoin.
cryptocoin.comAs you can follow from PeckShield, Pepe was recently featured on the rug pull list.
Despite the heavy trading volume and accompanying turmoil, PEPE seems to have captured the imagination of retail investors. Social media is full of stories about how people got rich by buying PEPE. There is also speculation as to what the next Pepe Coin will be. But, as its analysts put it, “no one can predict where PEPE will go from here”. If their other projects are a guide, PEPE will eventually return to the world and burn many retail investors who bet on it.
Bitcoin Gold (BTG)
The largest cryptocurrency Bitcoin is often referred to as “digital gold”. Bitcoin Gold (BTG) literally addresses this area. It is currently trading at $14, down 13% from last year and 97% since it was created in 2017 through a hard fork in the original Bitcoin. Aiming to be a store of value or safe-haven asset like precious metal gold, Bitcoin Gold failed to catch up as its developers envisioned. As a result, the price of BTG has trended lower over the years, especially since the outbreak of the Covid-19 pandemic in 2020.
The real problem is that investors tend to prefer real gold as a safe haven in times of economic strife and market turmoil. Also, the general volatility in crypto markets in recent years has further damaged sentiment towards BTG, causing most investors to view cryptocurrencies as a risky market. Bitcoin Gold has been subject to many network attacks. It has caused analysts and investors to question its safety and stability. In the end, investors interested in Bitcoin should invest in the real thing. BTG is another ‘future uncertain’ cryptocurrency, according to Investorplace analysts.
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