May has warmed the wallets of many crypto investors, as the market has shown a recovery after correction. Bitcoin (BTC-USD) did not fall below $57,000, crossing the $70,000 mark. The dominance and achievements of the first cryptocurrency did not become an obstacle to the growth of altcoins and memecoins, which are mostly going up along with high levels of the fear and greed index. However, in an atmosphere of excitement, it’s easy to forget that losses are possible in digital finance and that growth tokens may easily turn into cryptos to sell.

When every minute is profitable, investors lose focus and do less analysis. Looking at the history of previous bull runs, you will find examples of coins that lost a significant portion of their value despite the overall growth. The reason for this was general market trends, internal project difficulties, technical imperfections, or flaws in the tokenomics structure.

One thing is common — investors failed to identify these cryptos to sell and paid for them with their money. Regarding long-term viability, investors should not rely on loud promises from the development teams of overbought and unstable coins, as they can lose everything in pursuing high profits.

Ripple (XRP-USD)

Including the coin in the top 10 cryptocurrencies by market cap does not mean Ripple (XRP-USD) investments will grow. This digital asset is trying to break through the critical 50-day exponential moving average (EMA). Despite attempts to rally, the coin has failed to gain a foothold, raising concerns about its ability to sustain the current momentum. The EMA indicates the inability of bulls to raise the price and adds negativity to market sentiment.

Multimillion-dollar transfers in a particular cryptocurrency usually reflect whales’ attempts to influence the market. Such large transfers related to Ripple caught the eye of crypto enthusiasts in May. Thirty million XRP were moved to the Bitstamp exchange, 26 mln XRP to Bitso and 240 million XRP were transferred with Coincheck. Hundreds of millions of dollars have increased supply pressure on the market.

Large holders unload their XRP reserves in response to the token’s technical performance and the threat of an escalating legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs. Accusations of selling unregistered securities are nothing new for the project. Still, in the current environment, XRP is moving into the category of cryptos to sell because the dreams of profits are not worth the risk. The Financial Innovation and Technology for the 21st Century Act (FIT21) may clarify the regulatory framework for digital assets, but it may also play against Ripple.

Baby Dogecoin (BABYDOGE-USD)

Users who liked the early meme coins added Baby Dogecoin (BABYDOGE-USD) to the dog-themed tokens in 2021. Fans of Dogecoin (DOGE-USD) and Shiba Inu (SHIB-USD) have shown that using cryptocurrencies can be fun. BABYDOGE picked up on this idea and added a high-profile animal adoption and protection mission.

The charity raised the project’s social rating, but it did not change anything regarding its usefulness. Baby Dogecoin’s efforts to become popular would have been unsuccessful if influencers had remained silent. Meme coins without a foundation in the form of a well-thought-out multifunctional tokenization are commonplace and will not surprise anyone. It is another matter if Elon Musk recognizes the token on social media. You may have heard of the coin, thanks to this lucky break, but BABYDOGE has nothing more to support the hype.

Baby Dogecoin’s deflationary nature means that its tokens decrease over time. With more functionality in these coins, the law of supply and demand would work in the project’s favor. However, BABYDOGE is a meme coin, meaning the decrease in supply does not directly impact it. The price of this asset is affected by articles, celebrity posts, or scandals.

If you don’t have a 100% guarantee that we will see any of the above in the coming weeks, you can safely send BABYDOGE to the list of cryptos to sell. For over two years, BABYDOGE’s price behavior has been limited to an expanding triangular pattern. At the same time, using it purely for speculative trading destroys the foundations of the project and leads to prolonged and unpredictable periods of decline.

GameStop (GME-USD)

After appearing on the big stage in early 2024, GameStop (GME-USD) experienced a downturn until mid-May. This coin warns against buying hype digital assets you don’t understand, as a sharp fall followed a price surge. Roaring Kitty’s post on social media gathered a lot of theories and speculation. This was enough to ignite a fire in crypto enthusiasts.

This excitement pushed the token’s price from $0.0005 to $0.0219 but failed to keep GME high. Since May 15, the token’s price chart has been a downward trend line that falls below $0.0035. The fact that the token has not yet returned to the $0.0005 level may be due to the unnoticed risk appetite of some investors, as well as their hope for a repeat of the 2021 stock market situation.

At its price peak, the coin lacked the info drivers to stabilize its position. After thousands of investors have lost money from owning the digital asset, it will be difficult for the token to regain the same reputation. Even in the case of a repeated post by the influencer or the incredible performance of GameStop, crypto market players will be wary of GME.

Since the likelihood of a new ATH is very low, there is no point in stuffing your wallets with the coin. Conversely, among all the cryptos to sell, GameStop is in the lead, as it is steadily approaching zero.

On the date of publication, Julia Magas 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 writer, subject to the InvestorPlace.com Publishing Guidelines.