Not every market dip is a good buying opportunity. In this article, we will look at three cryptocurrencies that may not be worth considering for investment at this stage.
Pi Coin
Pi Coin gained popularity through its mobile mining app; however, its situation has deteriorated recently. A significant risk is represented by **massive daily token unlocks**—about **8.5 million tokens**. This leads to excess supply and price pressure, causing the value to drop from **$1.56 to $0.84** in just a few days. Currently, **Pi Coin seems based more on hype than reality**.
quote: "Five months ago, 5.4 billion Pi coins were transferred from the Pi Foundation 1 wallet to the Pi Foundation 3 wallet." — Dr Altcoin
Shiba Inu
Shiba Inu peaked in 2021, but this cycle has shown much less traction. Despite the rise of meme coins in general, **SHIB has mostly lagged behind** its competitors like Dogecoin. The Shiba Inu ecosystem tried to expand through **Shibarium**, but actual adoption has been lackluster. Investors in meme coins are clearly chasing newer options.
Solana
Solana was one of the major winners earlier in this bull run, but user activity has dropped by more than 40%. The network has been flooded with low-quality meme coins, harming its reputation. In just over a year, Solana rose from under $10 to over $200, and at this point, it may be overextended especially if Bitcoin continues to dip.
In light of the current market correction, it is essential to exercise caution and avoid rushing into investments in these cryptocurrencies. The lack of clear growth prospects and issues with supply volume cast doubt on the wisdom of purchasing them right now.
