The 2021 bull has led to a climax of some altcoin projects, from celebrity-approved tokens to television commercials and larger-than-life community following. Although they are waiting for new winds, their routes are uncertain now, it is necessary to pay attention to the following 3 names.
3 altcoins that lost their ‘way and excitement’ in 2022
Dogecoin (DOGE)
Dogecoin was one of the trending coins of last year. For example, if you said Dogecoin would go extinct in May 2021, no one would believe you. The meme coin had an unquenchable strength that felt like it would never fall again. Investors from all corners of the world flocked to Doge to stay on trend.
Fast forward to this day, Dogecoin has lost its way, its excitement and its reputation. It is far from being a mainstream coin as it was in 2021. Also, it barely performs on indices. Even Elon Musk’s tweets are no longer ‘exciting’. Last year, Dogecoin single-handedly led the entire news cycle. Now everyone misses the old days in 2022. cryptocoin.comElon Musk’s acquisition of Twitter and integrating Dogecoin into the platform is currently one of the hot topics in the community.
Decentraland (MANA)
The Metaverse, play-to-win and Web3 industries have taken the blockchain world by storm in 2021. However, this hype was temporary and has now been replaced by a wreck. Decentraland was not to be seen as the ‘next big project’ in the metaverse and P2E segment. But in 2022 it is almost forgotten.
As a concept, the Metaverse is like a sinking ship this year with the top companies in the Fortune 500 losing billions of dollars. To add fuel to the fire, DappRadar released a report claiming Decentraland only gets 650 active users each day. Therefore, now the joke on the streets is ‘Decentraland with a market cap of $1.1 billion has only 650 users’. While MANA experienced all the positivity last year, this year it has been buried under negativity. Its price is falling and has dropped from $5.85 (ATH November 2021) to $0.61 in just 10 months.
Terra (LUNC)
The wounds of TerraUST and LUNA (now LUNC ), which saw 0.00000s in May this year, are still fresh. Its founder, Do Kwon, is on the run. Although he says that is not the case, the authorities are following his trail to take the case to the judiciary. One of Kwon’s rescue attempts, LUNC, received positive reviews last year. It was under the top 10 in terms of market value for a long time. However, it made a complete u-turn from 2021 to 2022. This caused him to lose not only his path, but also the trust of the investor community.
Meanwhile, the LUNC community accepted proposal 5234. Accordingly, the 1.2% gas burning protocol was changed to 0.2%.
