In the dynamic world of cryptocurrency, often overlooked digital currencies have been amassing significant value, painting a vibrant yet complex landscape for investors. However, this surge in wealth isn’t a free-for-all; discernment is critical. As investors navigate this tumultuous sea, it becomes crucial to identify the cryptos to sell offering little to no upside before they plummet into obsolescence.

The recent gains in the crypto market, staggering as they may be, are unlikely to be sustainable. Amidst this backdrop, the ability to pinpoint cryptocurrencies worth buying, those exemplifying resilience and adaptability, becomes imperative. This period of reflection on the crypto journey underscores the volatility and rapid shifts that characterize this realm. Having said that, here are seven cryptos to sell marred by significant headwinds.

Shiba Inu (SHIB)

Shiba Inu (SHIB-USD), once a darling in the crypto market, now finds itself simmering on a decidedly cooler burner. The dilemma for investors remains palpable as they oscillate between the fantasy of a dollar-per-token valuation and the reality of its current price, a mere one-thousandth of a penny.

Beyond the initial excitement, Shiba Inu’s fundamentals reveal a different story. Historical surges, while thrilling, don’t assure future triumphs. Moreover, Shiba Inu’s utility in the realm of digital payments is overshadowed by more powerful networks such as Dash, which offers a whole host of benefits along with minimal transaction fees and greater price stability. Therefore, placing bets on this underdog in a field crowded with more sophisticated and established Ethereum-compatible contenders seems overly optimistic.

TRON (TRX)

From its inception, the TRON (TRX-USD) token has been embroiled in controversy. Critics point to the lack of originality, alleging plagiarism in its whitepaper. Perhaps an even bigger concern is its centralization, significantly influenced by founder Justin Sun, which contradicts the decentralization ethos of blockchain technology. Furthermore, the platform’s involvement in a myriad of legal and ethical controversies, including accusations of pump-and-dump schemes, adds to its dodgy standing.

Moreover, TRON’s tokenomics raise eyebrows. Its supply, a massive 90 billion TRX without a hard cap or burning mechanism, hints at an unavoidable dilution of investor value. This inflationary model is far from reassuring. Adding to the governance concerns, TRON’s decision-making power is concentrated in the hands of just 27 super representatives, significantly impacting the fairness and equity of its operations. These combined factors paint a worrying picture for TRON in the eyes of many in the cryptocurrency space.

Dogelon Mars (ELON)

Dogelon Mars (ELON-USD), another entrant in the meme token space, aims to efficiently ride the coattails of the Dogecoin (DOGE-USD) craze and leverage the star power of Elon Musk. However, its token distribution raises major concerns. With more than 40% of its tokens in the hands of the Methuselah Foundation, this concentration leads to market manipulation and a lack of long-term upside.

Further dampening its appeal is Dogelon Mars’ vague utility and unclear roadmap. The lack of a well-defined purpose or direction casts major doubts on its prospects. This is particularly concerning given the asset’s value plunge of about 46.5% from Apr. to Aug. 2023.

While Dogelon Mars has seen a recent surge, mirroring the broader market uptick, this should be approached with caution. The token’s shaky fundamentals suggest that it might not be the wisest choice for those looking for stability and growth.

Internet Computer (ICP)

Internet Computer (ICP-USD) is another digital asset worth avoiding. Despite the ambitious efforts of its developers in creating a smart contracts platform to rival Ethereum, the project faces significant challenges. The cryptocurrency market recognizes Ethereum’s shortcomings — such as high costs and less-than-ideal speed — and any new project which addresses these issues has major potential. However, ICP has been characterized by rapid and erratic price swings, making it a highly unpredictable investment.

Although the technology behind Internet Computer is advanced, it bears resemblance to other altcoins, with lingering uncertainties concerning its decentralization and the nature of its transactions. Moreover, Internet Computer has seen a substantial decline in value since its inception. Early backing by top venture capitalists, such as Andreessen Horowitz, initially sparked speculation and excitement. However, this enthusiasm hasn’t translated into sustained growth or stability.

ApeCoin (APE)

ApeCoin (APE-USD) is another overvalued crypto bet lacking practical utility and a clear developmental roadmap. Essentially, it’s a collection of 10,000 NFTs, each with a slight variation of the same ape-themed design. This lack of diversity and purpose has contributed to its decline in value over the years, a downturn that seems justified given the project’s trajectory.

Initially, the crypto gained momentum and value due to the NFT craze, with the Bored Ape Yacht Club playing a key role in its popularity. However, the project’s reliance on the fleeting hype around NFTs, rather than on substantive technological or practical application, has been its undoing. Despite the relatively low cost compared to its NFT counterparts, ApeCoin remains a questionable investment. The lack of a solid foundation or direction suggests that investing even a small amount in ApeCoin is unlikely to yield any significant returns.

Pepe’s (PEPE)

Pepe’s (PEPE-USD) presents itself as a collection of aspirations rather than a solid long-term plan. With over $500 million in investor capital, it’s challenging to assess Pepe’s true market value. Additionally, its distribution heavily favored liquidity, leaving a smaller percentage for future use. Its valuation is further complicated by the lack of use cases, serving primarily as a vehicle for speculation.

The volatility of Pepe Coin was exemplified by its rapid 7,000% increase in just 17 days following its launch in April, followed by a substantial fall. This decline was exacerbated by the founders’ dubious decision to withdraw a large number of tokens, which caused the coin’s value to plummet, exposing major security flaws. Hence, it is an unpredictable and high-risk choice for investors seeking stable and substantial returns.

OG Fan Token (OG)

The OG Fan Token (OG-USD), linked to an eSports organization known for Dota 2 and CS: GO, became the talk of the town back in April when it surged 400% over a weekend. However, the enthusiasm surrounding the token has died down, and then some, with it offering limited value to serious investors. The valuation of the crypto seems absurd, though, as its market cap dwarfs that of the industry leader in Faze.

The fully diluted market cap of OG Fan Token is at $24.3 million, compared to the market cap of Faze Holdings at almost $14 million. Moreover, this is especially striking considering OG is less popular while having a significantly weak social media presence. Therefore, it’s best to shed the OG token from your portfolio at this time.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines