3 meme coins you can cash out now for maximum returns

Selling meme coins is not a hot topic of discussion at the moment as we approach the fourth Bitcoin halving in mid-April. A deflationary event like the halving often triggers one Bitcoin (BTC USD) bull run. Bitcoin, which has already reached a new all-time high of around $73,000 this year, is the benchmark for the sector. So when it grows, the industry grows too. Pretty simple logic? However, at the heart of every investment is value.

Because Bitcoin acts as a hedge against inflation, investors prefer it, especially in countries like El Salvador and the Central African Republic, where it is accepted as legal cash. In the case of ether (ETH-USD), the ecosystem will be enhanced in 2024 through a series of innovations.

However, the meme coins we will examine do not offer the same utility. Now seems like a good time to cash out as their valuations rise.

Shiba Inu (SHIB-USD)

Shiba Inu (SHIB USD) begins our discussion about selling meme coins as the gap between market speculation and real utility makes investors sit up and take notice.

The meme currency was originally created as a joke in August 2020 and, despite its $15 billion market valuation, is still largely just a joke with no real use. A lack of use cases is the ultimate disadvantage, both as an investment and as a project.

Shiba Inu’s only ally is celebrity hype, especially Elon Musk, the CEO of SpaceX and Tesla (NASDAQ:TSLA). And Musk has a long history of openly supporting meme coins. His logic is that meme coins are for the little guys.

However, many Shiba Inu fans are aware that both ETH and BTC offer something to the investor beyond trading, whether as a store of value or as a platform for decentralized applications. This is the problem that Shiba Inu needs to solve; Otherwise, it will remain one of the meme coins available for sale for the foreseeable future.

Dogecoin (DOGE-USD)

Dogecoin (DOGE-USD) follows in the footsteps of Shiba Inu, as there are more similarities than differences between the two.

It started in December 2013 as a light-hearted joke. Two software engineers wanted to provide satire on the wild speculation in the crypto markets. Unfortunately, the two sparked further unintentional speculation in the crypto space as the meme coin caught on. Thanks again to Tesla CEO Elon Musk.

In March, Musk hinted that Tesla would accept the meme-based cryptocurrency as payment for its cars.Sometimeduring an event. Dogecoin is already accepted as payment for other Tesla merchandise purchases.

Dogecoin saw a price surge as Musk called it “the people’s cryptocurrency.” The title reaffirmed support at a time when belief in the coin was wavering. And many in the investing community thought his support was a thing of the past.

Overall, Dogecoin enthusiasts can use the meme coin for small tips and also for fundraising events. But they’ll have to wait for the next Musk-X post or major announcement to make any price move. And no one can accurately predict Elon Musk’s next move.

Pepe (PEPE-USD)

Pepe (PEPE-USD) is another meme coin we should sell as we approach the Bitcoin halving cycle. In terms of utility, the coin has little to say; Much of its value is speculation.

But that doesn’t mean there isn’t market speculation to profit from. PEPE has experienced a lot of trading activity. Especially on Binancethereby amassing millions of dollars worth of PEPE.

At the height of the meme coin frenzy, the PEPE token market cap rose to $500 million in 2023. doubled its value in a week. However, PEPE gave back these gains later in the year as investors took profits, particularly in exchange for the more established Ethereum.

In addition, Pepe has encountered problems that have undermined investor confidence. For example, insider trading, where the founders reportedly stole Tokens worth around $15 million. Such occurrences raise doubts about the openness and governance of the project and create even more headaches for investors who are already struggling with a lack of utility.

At the time of publication, Faizan Farooque did not hold (either 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