It’s fair to say that almost all cryptocurrency enthusiasts visit CoinCodex in order to keep an eye on their investments and favorite coins. While investors expect to see a rise in the value of their investments over time there are projects that lose a significant amount of their market cap. Here are five projects that have taken a nosedive.

42Coin

This coin launched in 2014 and was promoted as being extremely valuable due to the supply being limited to just 42 coins. Upon its release, the currency commanded huge prices and was sometimes traded for multiple Bitcoin. 42Coin traded at several hundreds of thousands of USD in January 2014 and achieved a market cap of over $800,000. Despite the early demand and high value, the coin plunged to under $500 in market cap in August 2015.

Since its days of early success, this coin has struggled to regain any importance and has progressively declined in value. However, if you are lucky enough to find a full 42coin you will still get a nice amount for it.

Dogecoin

Dogecoin started out as a joke but due to the backing of a passionate community it became a serious cryptocurrency and in 2014, the community became known for using DOGE to send the Jamaican bobsled team to the 2014 Winter Olympics.

Dogecoin peaked at a market cap of over $90M in February 2014 but the demise of Dogecoin exchange Moolah saw the coin plummet in value. Founder Alex Green also disappeared with a significant amount of funds leaving behind a coin that fell to under $12M in market cap in the autumn of 2015. Since then Dogecoin has experienced some spikes in value but only time will tell where the coin will end up.

PayCoin

PayCoin was started in 2014 by the notorious Josh Garza and had a huge launch; the coin reached over $12 in price and achieved a market cap of approximately $160M around Christmas 2014. However, due to chronic mismanagement and the PayCoin team failing to deliver on their promises, people began losing faith in the currency.

PayCoin hit rock bottom in 2015 and despite attempts by a dedicated community to resurrect the coin via a redesign the coin is essentially an abandoned project with a price of $0.01 per coin and an all-time low market cap of under $20,000 in January 2017.

The DAO

The Decentralized Autonomous Organization was announced in April 2016 and brought in over $168 million. The surge in demand for DAO tokens lead to the coin being listed on exchanges and reaching a price of around $0.19.

However, on June 18, a hacker exploited a vulnerability in the DAO smart contract, and managed to access more than $50M. When news of the attack spread, traders dumped the DAO token, and sent the price tumbling. Following the attack, investors were refunded via a hard fork of the Ethereum blockchain that returned the stolen funds by rolling back the attack. Despite the refund, the entire episode brought an end to the DAO.

ChainCoin

ChainCoin was a modest project that never really achieved anything over the course of its existence. Appearing on the scene in the summer of 2015, the coin operated around a price of $0.0002 and had a market cap of just a few thousand dollars. This continued until April 2017 when the abandoned project was picked up by a few youtubers who prompted their followers to purchase the coin.

ChainCoin went from having little to no trade volume to experiencing a 24-hour trade volume of over $10M in July 2017; the humble coin also rose to over $6 in price and experienced a market cap of just under $100M. The bubble soon burst and by the end of the summer, the price had plummeted with the coin losing the vast majority of its value. The coin still retains a market cap of around $3M as many victims of the ‘pump and dump’ scheme still hold coins.