Meme coins are not often a good investment due to their volatility and are prone to dying off due to a lack of utility. Also, these coins are primarily made for fun and have no new functionality to aid their growth.
Of course, some of these meme coins can be profitable if significant hype surrounds them. However, the value spike is unlikely to continue in the long term.
Moreover, due to the current state of the crypto market, these assets are likely to slump soon. Therefore, I have found such meme coins you can reduce your exposure in 2022 before they start to decline further.
Meme Coins Expected to Suffer During Q1 2023
ApeCoin (APE)
ApeCoin (APE-USD) was developed by a group associated with the Bored Ape Yacht Club (BAYC), which is a non-fungible token (NFT) collection.
Despite being called a utility token by its developers, the token has almost zero utility outside of the BAYC ecosystem and some small NFT projects. In addition, ApeCoin is also an ERC20 token, another obstacle to its long-term utility.
It is unlikely for ApeCoin to have a significant rebound soon due to the decline of the NFT market. The token has been in a devastating freefall in the past week, down 42%.
SafeMoon V2 (SFM)
The first SafeMoon project was discontinued, and its developers created a newer project named SafeMoon V2 (SFM-USD). The original project’s investors were given hours of warning before its developers taxed all the non-migration transactions at 100%.
SafeMoon’s price performance has also been disappointing. Its current price is almost 95% down from its all-time high. In addition, SafeMoon’s current reputation among investors makes it impossible for the project to have a significant rebound. In short, the SafeMoon project is neither safe nor going to the moon.
Dogelon Mars (ELON)
Dogelon Mars (ELON-USD) is an ERC-20 meme token. The project has almost zero utility or long-term prospects. Without a practical roadmap to increase token usage, ELON will likely see the same fate as Shiba Inu in the future.
Elon Musk’s impact on meme coins is no longer significant. A year ago, his support for Dogecoin considerably impacted cryptocurrency. However, despite his continuing support of the project, it has failed to increase the value of DOGE in the long term. Therefore, expect assets such as Dogelon Mars to have a similar fate.
Floki Inu (FLOKI)
Floki Inu (FLOKI-USD) is another ERC20 meme coin seeking to capitalize on Elon Musk’s promotion of Dogecoin. Floki is the name of Musk’s dog.
Although the token has started to focus on NFTs, its utility is almost nonexistent, with little productivity and revenue from its partnerships. However, refocusing on NFTs is unlikely to shift the Floki Inu away from its failed purpose.
Floki Inu is 98% down from its all-time high and is still in a long-term decline. Also, the token has lost 49% of its value in the past week alone; therefore, the short-term prospect for Floki seems alarming.
Budblockz and Hedera’s Utility Tokens Expected to Revolutionize the Crypto Industry
BudBlockz
BudBlockz is an excellent crypto project with the mission of applying blockchain technology to the rapidly blooming cannabis industry. BudBlockz aims to build the world’s first digital, fully decentralized cannabis investment and e-commerce platform.
Many crypto analysts have predicted that BudBlockz is the perfect crypto to invest in 2023. It is still new and undervalued. BudBlockz opened its doors for investors with its presale phase on September 12th after a successful private sale.
During the sold-out private sale, many investors traded their Bitcoin and Ethereum tokens to purchase BLUNT. You can still be part of the BLUNT presale on the official website.
Hedera (HBAR)
Hedera is a cryptocurrency platform that runs on a hashgraph blockchain. The Hedera (HBAR) Hashgraph is a blockchain project that supports smart contracts and decentralized applications (DApps).
The HBAR price has shown some clear patterns. After dropping to a local low, a price hike follows. However, the ongoing bear market in the crypto space slowed down the HBAR price recovery. The price could reach a maximum of $0.44 in 2022.
With new developments and partnerships working, the HBAR coin price prediction for 2023 is optimistic. HBAR will likely be sold at nearly $0.5 by the end of 2023.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
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