Since the dawn of the 20th century, there arguably hasn’t been a more tried and true method to build wealth than putting your money to work in the stock market. Stocks won’t outpace housing, gold, or bonds every year, but over the long run, no asset class has come close to matching the average annual gains of equities.

The short-term is a different story.

Since the trough of the coronavirus pandemic in March 2020, the market value of cryptocurrencies has soared. Whereas the benchmark S&P 500 has gained a little over 100% since March 2020, the aggregate value of all digital currencies has grown from $141 billion to nearly $2.9 trillion. That’s a greater than 20-fold increase in about 20 months.

Although interest in cryptocurrencies just about couldn’t be higher, not all digital tokens are worth investing in. In fact, the following trio of cryptocurrencies are likely headed to the doghouse and should be avoided like the plague in November.

A Shiba Inu puppy keeping a close eye on something in the distance.

The Shiba Inu dog breed has inspired a lot of top-performing cryptocurrencies this year. Image source: Getty Images.

Shiba Inu

The first cryptocurrency investors should actively avoid is the hottest
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