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Shiba Inu competitors are assembling investors who crowd the market seeking massive profits
The year 2022 has been a complete roller coaster ride for cryptocurrencies and their investors. The Shiba Inu token has always acquired the market’s spotlight because of its dramatic price surges and extreme lows. Currently, even though the market is not high but it is definitely in a recovery phase that is triggering price rallies in some of the most important digital assets in the market, which have been plummeting severely for the past several months. Shiba Inu developers have been working quite hard to prove its worth to investors and critics who believe that the meme coin might not be a safe option for investment since it does not even possess any productive real-world use cases. SHIB is one of the top meme coins in the market, and over the years has garnered several competitors. And due to SHIB’s weak development initiatives, the top SHIB competitors have successfully captured the attention of the investment community. Here, we have enlisted the top cryptocurrencies that are strong Shiba Inu competitors and can add good value to your investment portfolios in 2022.
Bitcoin
Bitcoin might be one of the most popular alternatives to Shiba Inu. BTC offers real-life applications, whereas, Shiba Inu has failed to showcase any such usability. BTC is a peer-to-peer online currency, meaning that all transactions directly happen between independent network participants, without the need for any intermediary to permit or facilitate them.
Ethereum
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime, and fraud.
Solana
Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.
Dogecoin
Dogecoin is one of the most brutal rivals of Shiba Inu. The top meme coin has certainly become popular among crypto whales after the crypto market embarked on its recovery journey a few weeks ago. DOGE is interesting crypto since it has certainly become the center of attraction in the tech and financial community since it is the favorite investment asset of tech mogul, Elon Musk.
Cardano
Cardano is a proof-of-stake blockchain platform that denotes its goal to become a ‘change-maker’ in the financial and economic domains. The open-source project was designed to ensure that token owners can participate in the operations of the network, enhancing transparency in transactions and development initiatives.
XRP
XRP is the native cryptocurrency of Ripple, a cryptocurrency payment system that is created by Ripple Labs Inc. It is built to facilitate global payment methods and act as a rival against traditional transaction methods offered by centralized financial institutions like banks.
Axie Infinity
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players. Axie Infinity allows players to collect, breed, raise battle, and trade token-based creatures known as Axies. The Axie Infinity ecosystem also has its own unique governance token, known as the Axie Infinity Shards (AXS).
Polkadot
Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other.
Avalanche
Avalanche, along with Solana, is another example of a crypto that showcases a clear purpose, as opposed to meme coins like Shiba Inu. Avalanche is one of the many projects that is seeking different ways to beat Ethereum. Its network can process transactions much faster than any other cryptocurrency. Besides, Avalanche has showcased many more real-world use cases than Shiba Inu.
Decentraland
Decentraland claims itself to be a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. In this virtual world, users purchase plots of land that they can navigate upon, build, and monetize. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens.
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