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5 Top Meme Tokens To Avoid In Your Portfolio This Week

Meme tokens like ApeCoin and Dogs Of Elon have failed to live up to their hype and demonstrate their viability as an investment.
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5 Top Meme Tokens To Avoid In Your Portfolio This Week

Ongoing lawsuits, layoffs, and prolonged crypto winter have had a significant impact on the market. Top cryptocurrencies saw their value plummet by more than 90%. The total crypto market cap dropped below $1 trillion. One of the reasons why the crypto industry saw the worst hit can be a slew of digital currency projects that have fallen short of expectations. Here’s a list of meme tokens one must avoid adding to their portfolio this week.

Dogs Of Elon

In the last 7 days, this meme token has only seen red. Sliding on a downward trend, DOE has lost around 98.81% of its value and is currently trading at $0.0001587.

It is neither a popular meme coin nor a large following. According to Wallet Investor’s AI cryptocurrency analyst, DOE has a negative outlook and will follow a negative trend in the future.

Source: CoinMarketCap

Fronk

FRONK coin came into circulation after the developers behind Solana-based meme coin BONK burned their allocation of 5 trillion BONK tokens. FRONK is the latest addition to the cryptocurrency market but miserably failed to prove its strength. Fronk’s current trading price is $0.00000005123, and its price has dropped by 30.21% in the last seven days.

DOGGO

This meme token is currently trading at $0.00000003143, which is down by 51.92% in the last 7 days. This coin is only listed on three exchanges, namely, MEXC, Raydium, and Orca, according to CoinMarketCap. Making it one of the meme tokens you should avoid adding to your portfolio this week.

Source: CoinMarketCap

ApeCoin

ApeCoin (APE) is a meme coin with ties to the Bored Ape Yacht Club (BYAC) NFT (Non-fungible token). It is the utility token of the APE Ecosystem with its own Decentralized Autonomous Organization, the Apecoin DAO. $APE has lost nearly 80% of its value from its ATH. Until ApeCoin demonstrates tangible value and utility, it’s not worth buying.

Samusky

This meme coin is currently trading at $0.00005466, and its price has dropped by 19.49%. The trading volume of SAMU is very low, hovering around $406.68 for the last 24 hours. According to Wallet Investor’s AI cryptocurrency analyst, SAMU will continue to fall in the future.

Walletinvestor.com
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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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