3 meme coins to sell in July before they crash and burn

I can say with some confidence that the cryptocurrency bull market is likely to continue. Bitcoin (BTC USD) appears to be in a consolidation zone. Given the likelihood of interest rate cuts, I expect another rally for Bitcoin and other cryptocurrencies. But even in the biggest bull markets, there can be wealth destroyers. The focus of this column is to identify three meme coins that can be sold before their value declines further.

It is worth noting that Bitcoin has fallen by around 7% in the last 30 days. This is a small correction within a bull market. In the same period beam (BEAM USD) And Celestia (TIA USD) have decreased by over 40%. I mentioned these two coins because they are in the top 100 in terms of market capitalization. The key point is that in a high beta crypto market, there will continue to be wealth destroyers.

So let’s talk about three meme coins you should sell before it’s too late.

PepeCoin (PEPE-USD)

Dogecoin (DOGE-USD) And Shiba Inu (SHIB USD) have survived several downturns for cryptocurrencies. Dogecoin continues to enjoy the support of Elon Musk and Shiba has expanded its ecosystem and utility. If I had to bet on meme coins, I would consider these two names instead of going with something relatively new.

PepeCoin (PEPE-USD) is one of the top 25 coins in terms of market capitalization. A valuation of nearly $5 billion seems excessive, and I believe PEPE will trend lower from current levels. The meme coin has corrected by 23% in the last month, but that is small compared to a 650% rally in the last 12 months.

I also believe that the token economics for PEPE coins are unattractive. A total supply of 420.69 trillion does not seem to be a problem at the moment. However, if there is a loss of confidence and only a few large investors exit, a collapse can occur. A recent report suggests that the crypto market has a whale strategically reallocated funds from PEPE to ether (ETH-USD).

Bonk (BONK)

Bonk (BONK USD) is another meme coin for sale. It is worth noting that BONK is up 6,500% in the last 12 months. With a market cap rank of 65, the meme coin seems expensive.

Therefore, the best part of the rally may be over and I see high risk at current levels. My view is reinforced by BONK’s 2030 price prediction implies upside potential of 310% from current levels.

As for the positives, BONK has over 120 integrations over 9 separate chains. The ecosystem of integrations was therefore robust. In the gaming segment, BONK has 25 integrations and is an emerging in-game currency across blockchain gaming.

However, these factors are not unique to the world of cryptocurrencies. The rally in BONK was largely driven by euphoria. As soon as investors find cheaper alternatives, money is likely to flow out of BONK.

The token economy doesn’t seem attractive either. The current circulating supply is 66.3 trillion, out of a total supply of 93.5 trillion. Furthermore, the Supply inflation is high, and if a few whales get out, there will probably be panic.

Floki (FLOKI-USD)

Based on market capitalization Floki (FLOKI-USD) is the fifth largest meme coin. Additionally, if we look at the top 10 meme coins, FLOKI has the worst performance over a 30-day period. Of course, this isn’t the only reason to be pessimistic about FLOKI. However, I believe the downward trend is likely to continue.

If we look at the price prediction, FLOKI has one Value increase potential of 295% from current levels by 2030. The technicals seem to indicate that most of the rally is over for the meme coin.

The Risk of fraud is another factor that influenced mood. Recently, Floki issued a scam alert about fake tokens Solana (SOL USD) and basic blockchains.

Another recent news suggests that Floki investors are liquidating their holdings to buy Mpeppe (MPEPE-USD). Reasons include “Potential for higher returns, innovative betting features and strong market forecasts.” I would therefore remain cautious about investing in FLOKI again. In addition, profits can be booked and a move to stronger projects can be considered.

At the time of publication, Faisal Humayun 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, subject to those of InvestorPlace.com Publishing Guidelines.

The responsible publisher did not hold, directly or indirectly, any positions in the securities mentioned in this article at the time of publication.