2 overbought cryptos to sell and 2 to buy ASAP

Determining which cryptocurrencies to buy and sell is sometimes notoriously irrational. Hype and speculation often fuel short-term profits rather than real benefits. As a result, investors can get caught up in the hunt for meme coins or obscure altcoins in the hopes of making quick profits. However, not all cryptos are equal when it comes to long-term profitability.

It is advisable to take profits from overdrawn coins that are unlikely to reach new highs in the next cycle. These can be meme coins that have had a long period of fame, or obscure alternatives that lack developer talent or real adoption. Meanwhile, more promising utility cryptos with strong fundamentals could still have significant upside potential even at today’s prices.

Shifting funds from overbought cryptos to more sustainable projects could pay off significantly in the long run. Projects with real value are far more likely to stand the test of time and deliver consistent growth year after year.

Dogwifhat (WIF-USD)

Dogwifhat (WIF-USD) has undoubtedly been the game-changing meme coin of this cycle so far. As a newer meme token based on the rapidly growing Solana (SOL USD) Blockchain has enjoyed explosive popularity in recent months. At the time of writing, WIF has experienced breathtaking development Market cap of $3.5 billionThis makes it one of the largest meme coins on the market. There is no denying that it has brought huge returns in a short period of time.

However, dogwifhat might be a bit overheated at current levels. Solana’s low fees have enabled speculation in WIF and other Solana-based altcoins, but hype-driven gains can be difficult to sustain over the long term. While further gains in the short term are certainly possible if the meme coin craze continues, WIF lacks the real-world utility and fundamentals that typically allow cryptos to reach new highs cycle after cycle. Once the spotlight fades, WIF may struggle to stay relevant.

For these reasons, investors should consider taking some profits on WIF here before momentum fades. The meme craze won’t last forever and more sustainable crypto projects could soon take center stage again. WIF has likely peaked this cycle, so the time to sell may be coming sooner than many think.

Banano (BAN-USD)

banana (BAN USD) actually offers some fascinating real-world use cases to back up the hype. A fork of the instant, fee-free DAG-based cryptocurrency Nano, Banano uses a similar architecture that enables free, near-instant transactions. This gives it an inherent utility as a payment coin that many speculative meme tokens lack.

However, Bananano’s most exciting use case is its ability to harness user-provided computing power for medical research. By allocating their GPU resources to Banano’s Folding@Home initiative, users can contribute computing power to disease research and earn BAN tokens as an incentive. This represents a sustainable source of demand for the coin as the need for distributed computing power grows.

With bananas The market cap is still just $11 million Despite an enthusiastic fan base, I believe the coin is still undervalued relative to its potential. If Banano continues to receive support and expands to more exchanges, the price could explode. I am confident that BAN can achieve significant further growth in this market cycle as Redditors and research organizations make greater use of its network in the future.

Internet Computer (ICP)

Internet computer (ICP USD) seemed poised to revolutionize the crypto industry with its unique approach to on-chain computing and decentralization. However, ICP tokens have crashed from their all-time highs.

Renewed speculative interest has boosted ICP in recent weeks as altcoins have risen. But make no mistake – this temporary boost should not be viewed as a convincing recovery. I believe that now is the time to completely abandon this controversial cryptocurrency before losses continue to mount.

A key long-term headwind that is likely to worry investors is Internet Computer’s astronomical token inflation plan. An overwhelming amount of ICP will come into circulation in the coming years, massively diluting the value of current holders’ shares. Given the low adoption and activity of the ecosystem at such extreme dilution, ICP appears to be fundamentally flawed.

Sure, Internet Computer is still active in hot emerging sectors like DeFi, NFTs, and the metaverse. However, with better positioned alternatives available, there is no reason to weather the ongoing inflation storm that ICP has in store. The sales window could close quickly if the ICP passes, so investors should strongly consider moving their funds into other cryptos with superior tokenomics and real-world traction.

Golem (GLM-USD)

Golem Network (GLM-USD) is an open source peer-to-peer marketplace for computing resources. Golem leverages crowdsourcing to provide affordable, distributed processing for tasks such as scientific research and machine learning.

By breaking complex calculations into smaller pieces and distributing them across the network, Golem can reduce costs and accelerate schedules beyond what centralized cloud services can offer. Compared to Internet Computer’s hefty $7 billion market cap, Golem appears to be a little more than attractive value 500 million dollars.

As demand for distributed computing booms in the coming years, I believe Golem’s impressive track record and real-world use cases should lead to strong growth cycles for the GLM token.

At the time of publication, Omor Ibne Ehsan did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.