Investing in cryptocurrency can be a rollercoaster ride for investors. The crypto world has seen significant growth in the past few years. And traders are now starting to believe that it is here to stay!
However, just like every other investment, cryptocurrency investments have their ups and downs as well. Traders must stay proactive if they want to get the best outcomes from this digital asset.
It’s important to remember here that investments aren’t just about buying a lucrative capital asset. You also need to sell it at the right time. Read on as we discuss some cryptos to sell to stop your losses and maximize your gains. Let’s get started! Here are five cryptos that you should sell in 2022:
1. Shiba Inu
Initially launched as a meme by a tiny group of investors, Shiba Inu went on to see a lot of success. It is an Ethereum-based crypto coin that has gained incredible popularity recently owing to its doge-themed ecosystem.
However, when Dogecoin replaced Shiba Inu, investors shifted their interest towards Dogecoin to earn more from it in the future.
Besides its declining popularity, another critical reason to sell Shiba Inu in 2022 is that its founder is unknown and has gifted Ethereum’s founder 50% of its supply to impress the public. This has backfired, and if you are currently holding any of this cryptocurrency, it’s time to sell it.
2. Tron TRX
A few years ago, people were suggesting that Tron TRX would be the next big thing in the crypto world. There were predictions that it could reach $1. However, the predictions would have made sense had they predicted 10 cents.
Given its performance so far, it is clear that Tron hasn’t delivered in the way expected from it. The founders say the network can tackle up to 2,000 transactions per second, but there’s no sign of improvement in the performance of its price activity.
Cryptocurrencies are generally not as useful in the real world due to their instability and unpredictability. Dogecoin experienced these issues a lot more than its competitors. Dogecoin depends on the “Greater Fool” theory, which suggests that traders buy it to sell it without thinking of fundamentals.
To make matters worse, Dogecoin isn’t programmable, leaving users helpless to build decentralized apps on its blockchain.
SafeMoon has probably been the easiest inclusion to this list. Even though it has a market cap of almost $1 billion, it is offering zero value at the moment. In addition, it has no clear way of utilization, which makes it difficult to trade. Still, the company is constantly coming up with updates that include a beta version of its wallet.
Concluding the list of cryptos to sell in 2022 is Monero. It is largely considered a privacy coin. Essentially, you can perform transactions from Monero without disclosing the details.
As a result, traders looking to buy this coin may end up attracting the attention of investors who want to utilize their money for illegal purposes. Naturally, this makes Monero one of the cryptos to sell before it’s too late!
Make Your Decision Now!
And that brings an end to our discussion on cryptos to sell in 2022. We hope this blog helped you clear up any confusion on which cryptos to hold on to and figure out your next steps in the crypto game!