2 Crashing Cryptocurrencies to Avoid in 2022

This has been a bonanza year for cryptocurrency investors, with the combined market soaring 185% to $2.2 trillion year to date. Meme coins like Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) led the bull run. But both look like risky bets for 2022. Let's explore why their disastrous fundamentals and weak competitive moats could set investors up for failure in the new year. 

Up by over 3,000% in 2021, Dogecoin was one of the year's top performers. That's despite falling dramatically from its all-time high of $0.74 achieved in March (now it's worth $0.16 per coin). And unfortunately for investors, Dogecoin's collapse looks set to continue in 2022 because of its weak fundamentals and concentrated ownership. 

Image source: Getty Images.

Continue reading

Source Fool.com