3 Beaten-Down Cryptos That Aren't Worth Buying on the Dip

Key Points

  • Cardano, Dogecoin, and Litecoin are down significantly for the year, with declines as high as 45%.
  • Despite temporary rallies, these cryptocurrencies are not recommended for investment due to limited upside potential and high risk.

Summary

The article discusses the current downturn in the cryptocurrency market, highlighting three cryptocurrencies that investors should avoid despite their significant price drops. Cardano (ADA) experienced a brief surge after being mentioned by former President Trump but has since declined due to lack of government backing. Dogecoin (DOGE), known for its meme status, has not lived up to the hype around government efficiency initiatives or meme coin supercycles, with its value dropping over 45% for the year. Litecoin (LTC) saw a temporary rise with speculation about a potential ETF approval, but the lack of sustained interest and ongoing market volatility have brought its price down. The author advises against buying these cryptocurrencies on the dip, suggesting instead that investors look towards Bitcoin, which is seen as having more potential for recovery. The article concludes by emphasizing the importance of discerning value in the crypto market, cautioning against the allure of buying low without considering the broader market conditions and individual asset fundamentals.

The Motley Fool
March 13, 2025
Crypto
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