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2021 has been an extraordinary year for many cryptocurrencies, and nothing more than coins like Shiba Inu (SHIB). Shiba Inu was launched in August 2020 and joined the top 10 cryptos by market cap in October 2021. The coin that was originally touted as a “Dogecoin killer” briefly passed Doge before falling behind the lead dog again.
Both Dogecoin and Shiba Inu are coins on the theme of the now famous Japanese dog breed. Indeed, Shiba Inu is one of the many pet coins within the scope of Dogecoin – Dogecoin has also spawned tokens like Floki Inu (FLOKI), Husky Coin (HUSKY) and Baby Doge Coin (BabyDoge).
But Shiba Inu is one of the most successful. It increased by over 800% in October thanks to Elon Musk’s Shiba Inu puppy and a petition for Robinhood to list the play. With a market cap of $ 18 billion, it is now at number 13 on the crypto charts.
The problem with the parts themselves? They are even less predictable than the rest of the cryptocurrency Marlet. A coin may soar on the back of a social media mention, but it’s not something you can predict or control. Coins with solid fundamentals are a much safer bet. And we have five incredible ones that could overtake Shiba Inu in 2022.
1. Elrond (EGLD)
Elrond is one of many Ethereum (ETH) alternatives that are well positioned for 2022. This may not sound as exciting as Shiba Inu, but keep in mind that Solana (SOL) – another smart contract platform – was one of the top performers of 2021.
Smart contracts are tiny pieces of self-executing code that live on the blockchain. Ethereum was the original smart contract crypto, but is now struggling with network congestion and high fees. As a result, various faster and cheaper platforms are taking market share.
This is just the start for Elrond and there are a lot of contenders in this race. But if it can attract developers, this crypto could well outperform Shiba Inu.
2. Serum (SRM)
One of the reasons smart contract platforms are in such demand is because they are fueling the booming market decentralized finance (DeFi) industry. There are two caveats to purchasing DeFi parts:
- We don’t know what will happen in DeFi next year – regulation could have a big impact on the industry.
- The decentralized finance industry is changing extremely rapidly. A part that works today may fall out of favor tomorrow.
That said, Serum is an interesting option because it is the utility token for a decentralized exchange (DEX) based on Solana’s network. This means that users can benefit from Solana’s fast and inexpensive transactions when exploring the various decentralized finance projects being built on Solana.
3. Livepeer (LPT)
One of the exciting aspects of blockchain technology is decentralization – removing intermediaries from transactions. This doesn’t just apply to finance. live brings this decentralized approach to video streaming. Its website states that 80% of all internet bandwidth is consumed by video streaming, and streaming is expensive.
The expensive part of video streaming is the process of reformatting the video for different devices and bandwidths called transcoding. Rather than investing in expensive hardware, Livepeer allows individuals to contribute their available bandwidth to the transcoding process. They earn LPT tokens and Livepeer can transcode videos more affordably.
4. VeChain (EFP)
VeChain offers another real use of cryptography. It uses blockchain technology to monitor and streamline every step of a supply chain. For example, it is partnering with Walmart to trace the provenance of certain product lines such as meat and fresh vegetables. If there is an outbreak of, say, e-coli, it can be quickly traced back to the source.
This same technology is used by manufacturers of luxury goods to prevent counterfeiting and increase consumer confidence. Other companies use it to track their carbon consumption at every step of the supply chain.
5. World wilder (WILD)
Wilder World is a riskier game than the other coins on this list – it ranks 260th and is yet to be listed on many major crypto exchanges. However, a list of cryptos that could perform well in 2022 would be nothing if it didn’t mention at least one metaverse token.
Wilder World is a 5D metaverse built on the Ethereum network. It is a space where people can create and exchange non-fungible tokens (NFT). NFTs are digital ownership certificates that are changing the way we own items online. And NFTs play an important role in Wilder World’s metaverse and platform winning games.
Can Shiba Inu return to its peaks?
The truth is, no one knows what Shiba Inu might be able to do. Dogecoin spent years as an industry pet rock before surprising seasoned investors by jumping and licking them in the face (or more specifically, jumping into the top 20 cryptos by market cap and staying there). The reason his success has been surprising is that Dogecoin is purposely of no use.
Shiba Inu has some utility, although utility is not what powers the coins. Even pieces are powered by communities and influencers. Shiba Inu has a strong community, also known as ShibArmy, which is one of the reasons for its success. But he doesn’t really have big celebrity fans, although Elon Musk does have a Shiba Inu puppy.
Most of the above parts are available from best cryptocurrency exchanges. What sets them apart and gives them a better chance of long-term success is that they have a utility. Be aware that it is possible for the entire crypto market to fall, or for an individual coin to be hacked. Proceed with caution and invest only the money you can afford to lose.
Buy and sell cryptocurrencies on an exchange chosen by experts
There are hundreds of platforms around the world waiting to give you access to thousands of cryptocurrencies. And to find the right one for you, you’ll need to decide which features are most important to you.
AT help youyou started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list heD and start your crypto journey, today.
Emma Newbery owns Bitcoin, Egold, Ethereum, Livepeer, VeChain, and Wilder World.
We strongly believe in the Golden Rule, which is why the editorial opinions are our own and have not been previously reviewed, endorsed or endorsed by the included advertisers. The Ascent does not cover all the offers on the market. Editorial content for The Ascent is separate from editorial content for The Motley Fool and is created by a different team of analysts. The Motley Fool owns and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.
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