With the crypto market taking a breather, it might be the right time to think about which meme coins to sell.

In a rising tide lifts all boats scenario, Bitcoin’s (BTC-USD) robust rally in the first three months of this year boosted meme coins in the process. Meme coins are essentially built on the pillars of social media buzz, lacking real-world utility and technological backing.

Moreover, with the enthusiasm waning, the crypto market has witnessed a considerable slowdown in inflows to new spot Bitcoin ETFs and softness in asset prices overall. Such a trend is likely to weigh down meme coins substantially, which beckons investors to offload these highly speculative assets. With that said, here are three that you should probably discard from your portfolio.

Meme Coins to Sell: Bonk (BONK-USD)

Bonk (BONK-USD) was among the few cryptos that ignited hope for a crypto bull run during the disastrous market downturn 2022. Bonk went parabolic briefly during that time, spiking to six cents, having traded for roughly one-tenth of a cent for seven priors. It is now changing hands at approximately one ten-thousandth of its peak price of six cents, 100% lower than the highs achieved during 2022. Its surge underscores the crypto market’s vulnerability to quick bursts of speculative frenzy from meme tokens that offer little real-world utility.

Bonk offers hardly any use cases, and the few times it witnessed a spike in price had had little to do with its project. For instance, it rebounded back in 2020, but it was mainly due to viral TikTok videos, which temporarily bumped its price. Moreover, its speculative nature and unlimited supply model cast a long shadow over its long-term viability, making it a digital one to avoid.

Pepecoin (PEPE-USD)

Pepecoin (PEPE-USD), featuring the image of a cartoon frog, has been one of the top-performing cryptos in the past year. Year-over-year growth in PEPE is at over 15,000%, a dumbfounding figure by any stretch. In fact, trading volume in the coin jumped a staggering $3.50 billion in one day, primarily driven by individual investors chasing speculative assets. The speculative frenzy in PEPE shines a light on the perils of investing in meme tokens, which offer virtually nothing in long-term stability. Like its peers, Pepecoin relies on viral trends rather than substantive value, making it an asset class during a downturn.

Most recently, on March 27, a massive transfer of 2.6 trillion PEPE to an unknown wallet valued at over $21 million turned heads among crypto investors. This action followed a steep decline in price, which is linked to major stakeholders intervening to control the coin’s price. Such volatility again underscores the precarious nature of PEPE, which remains vulnerable to the slightest shifts in online trends and investor narratives.

Shiba Inu (SHIB-USD)

Shiba Inu (SHIB-USD), often heralded as the playful cousin to Dogecoin (DOGE-USD), is another popular meme coin you should avoid. Despite its lack of intrinsic value and minimal utility, Shiba has garnered a strong following online. Moreover, its price has surged significantly over the years during peak hype cycles. However, it hasn’t been able to maintain those gains, reflecting the topsy-turvy nature of crypto bets.

Furthermore, the SHIB is not rising from its technology or utility but celebrity endorsements, most notably from Elon Musk. Musk’s Twitter feed has been a needle-mover for meme coins such as DOGE and SHIB, which he champions as populist investments. Arguably the last big moment for SHIB occurred when Musk briefly changed X’s logo to feature the Shiba Inu image.

However, the reality for its enthusiasts is that these cryptos offer little to no tangible benefits compared to the market’s stalwarts. Without addressing these fundamental problems, Shiba Inu will continue to be a speculative asset, especially with more sustainable cryptos gaining more traction in the industry.

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