7 cryptocurrencies to sell before its implementation in 2022

When AMC Entertainment (NYSE: AMC ) announces that it plans to accept Dogecoin as a payment method, it might seem strange to write about cryptos to sell. If you bear with me, I will try to do my best to make my case. It is not as bearish as you think.

The cryptocurrency market took a shot in the arm (as if it needed to) from Bank of America (NYSE: BAC ) last week. In the bank’s “Digital Asset Primer,” he predicted that cryptocurrency was only in its early days and that the industry had “gone too big to ignore.”

Part of the reasoning for that bullish outlook stems from interest from institutional investors. In the first half of 2021, “smart money” amassed over $17 billion in the crypto market. That number dwarfs the $5.5 billion it bought in all of 2020.

I am not (currently) a crypto investor. But if it were, I’d appreciate an open look at the market. Every asset class has winners and losers. And that list can change based on the number of events. So why should it be any different for cryptocurrencies? My answer is that it shouldn’t be like that.

If investors accept the idea that there are cryptos to buy, there are also cryptos to sell. And without further ado, let’s take a look at seven cryptocurrencies that may have a rough year in 2022.

  • Monero (CCC: XMR-USD )
  • Tron (CCC: TRX-USD )
  • Dogecoin (CCC: DOGE-USD )
  • Shiba Inu (CCC: SHIB-USD )
  • Stellar Lumens (CCC: XLM-USD )
  • SafeMoon (CCC: SAFEMOON-USD )
  • Bitcoin Gold (CCC: BTG-USD )

7 cryptocurrencies to sell: Monero (XMR-USD)

Topping this list of cryptos to sell is Monero, which is widely used as a privacy coin. Basically, Monero allows transactions to be processed with the details hidden from view. It doesn’t take a mental leap to see why that might attract the attention of people who may want to use the money for nefarious purposes.

And that means Monero is in the crosshairs of President Joe Biden’s administration. One of the controversial regulations being released by the current administration is the ability of the Internal Revenue Service (IRS) to “snoop” on qualifying bank accounts for activities that could be construed as tax evasion.

The pandemic and associated stimulus payments helped boost the popularity of cryptocurrencies. One reason, and perhaps the only reason for such a move, is the concern the IRS has expressed about taxpayers misreporting cryptocurrency transactions. And they are putting their money where their mouth is by offering to pay developers to crack the code of privacy coins.

Tron (TRX-USD)

The logical question we must ask ourselves is why? And that’s where Tron doesn’t live up to the hype of it. At first glance, there is a case for TRON, which is the token supported by the blockchain-based operating system of the same name. The creators say the network can handle up to 2,000 transactions per second, which would dwarf Bitcoin (CCC: BTC-USD ) and Ethereum (CCC: ETH-USD ).

7 cryptocurrencies to sell: Dogecoin (DOGE-USD)

I admit that when it comes to cryptocurrencies to sell, Dogecoin can fall into the category of wishful thinking. I’ve never been a big fan of DOGE, but that doesn’t mean a thing. The digital currency that made its way as a social media currency has many crypto investors wagging their tails this year.

To be fair, it’s not like there isn’t a reason for that. As I mentioned in the introduction, AMC Entertainment is making plans to accept DOGE. And Mark Cuban, owner of the National Basketball Association’s (NBA) Dallas Mavericks, has said the team will begin accepting DOGE as a form of payment for tickets and merchandise. Cuban is well known for having a position in Dogecoin. So it stands to reason that he wants to do everything he can to make the coin successful.

Shiba Inu (USD-SHIB)

People will walk away from this thinking I don’t like dogs. Well, I’m a cat owner, but that’s not the point. I don’t like dog based coin investments and that’s the feeling I get when I look at SHIB. This may seem like a strange statement, as I am writing this during a week in which the altcoin has appreciated 300%.

7 cryptocurrencies to sell: Stellar Lumens (XLM-USD)

I find it hard to put Stellar Lumens on this list of cryptocurrencies to sell because I like its use case. However, it’s when I think about the enterprise use case that I have to take a critical look. I’m a big fan of a unique selling proposition. When a company gives investors a reason beyond price to buy its shares (or in this case its currency) it is a bullish sign.

So how unique is the use case for Stellar Lumens? Currently, Stellar Lumens focuses on cross-border transactions for the unbanked. That sets it apart from Ripple (CCC: XRP-USD ), which is primarily focused on cross-border transactions between banks and other financial institutions. However, as my InvestorPlace colleague Brenden Rearick wrote, its outreach to the unbanked is not a very big moat.


When researching cryptocurrencies to sell, it was quite easy to list SafeMoon. Despite a market capitalization of nearly $1 billion, the coin is worth exactly zero at the time of writing. And in the world of altcoins, that is saying something particularly when SafeMoon claims to have “The fastest growing crypto community on Earth”.

In addition to not having a clear utility, the altcoin is difficult to buy and sell. There are more detailed questions about SafeMoon that you can read in the article cited above by InvestorPlace writer Brendan Rearick.

7 cryptocurrencies to sell: Bitcoin Gold (BTG-USD)

The last coin on this list of cryptocurrencies to sell is Bitcoin Gold. I always found the name Bitcoin Gold strange because Bitcoin itself is labeled as the cryptocurrency version of gold. It’s also weird because aside from having Bitcoin in its name, there’s not much resemblance to cryptocurrency.