2 Cryptos to Avoid No Matter What
When searching for bargains in the always-volatile crypto market, it's easy to run across landmines. Typically, these are cryptos that are trading at unusually low prices, but that are nonetheless the subjects of a lot of hype and speculation. Often, they are tokens that have produced spectacular gains over periods in the past, which can make it harder to recognize their flaws.
With that in mind, ApeCoin (CRYPTO: APE) and Shiba Inu (CRYPTO: SHIB) are two cryptos to avoid, no matter what. Both have significantly underperformed the market in 2023, and both show few signs of turning things around anytime soon.
When it debuted in early 2022, ApeCoin seemed to have unlimited upside potential. After all, the prospects of ApeCoin were tied directly to the performance of the Bored Ape Yacht Club, which is still the most successful non-fungible token (NFT) collection in history. New brand extensions for the Bored Ape Yacht Club were in the works, including new digital gaming and entertainment experiences, as well as real-world products and services. Some even speculated that the Bored Ape Yacht Club ecosystem might become the foundation for a modern entertainment brand -- a Walt Disney for the NFT era.
Source Fool.com
