If there's anything that the 2022 crypto meltdown taught investors, it's that you need to do the proper amount of due diligence before getting involved with digital currencies. Get-rich-quick schemes abound, and even popular cryptos with billion-dollar market caps are not necessarily safe investments. In a market downturn, they can lose almost all of their value overnight.

With that in mind, ApeCoin (CRYPTO: APE) and Dogecoin (CRYPTO: DOGE) are two cryptos to avoid no matter what. Both have significantly underperformed the market in 2023 and show few signs of turning things around anytime soon.

When it was launched in March 2022, ApeCoin generated a lot of hype and speculation. This new token promised to become the primary way that everyday investors could get access to the upside potential of the Bored Ape Yacht Club, which remains one of the most popular non-fungible token (NFT) collections ever.

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Source Fool.com