The stunted growth of Shiba Inu is pushing investors towards SHIB’s competitors
The year 2022 has been quite interesting for cryptocurrencies. Major cryptocurrencies like Shiba Inu have also been a part of these ups and downs. Experts believe that the Shiba Inu price has been congested due to various economic reasons and is unable to surge. SHIB investors have been waiting for a long time for its market value to trigger past the US$1, but with the ongoing inflation, rising macroeconomic crises, and no real-world use cases, the SHIB token has failed to move ahead getting into the good books of crypto investors. Now, since things seem to be slowing down for Shiba Inu, investors seem to be moving towards other alternatives. Shiba Inu alternatives generate more profits and possess several real-world use cases that will offer long-term growth and value. Here are, some of the top alternatives of Shiba Inu that you can opt for in 2022.
Ethereum is a popular smart contracts platform that aims to dominate the decentralized market. It is an open-source blockchain system that features its own cryptocurrency, Ether. ETH performs as a platform for numerous other cryptocurrencies as well as the execution of decentralized smart contracts. ETH’s own purported goal is to become a global platform for decentralized applications, enabling users from all over the world to write and run software that is resistant to censorship.
Apecoin has a lot of potential in the fast-growing metaverse space. Crypto is already being used as in-game currency for P2E games. Besides, the APE token has been recently adopted by the high-end fashion brand, Gucci for payments. One of the biggest reasons why Apecoin is a better investment asset than Shiba Inu is due to its growing, active ecosystem. The token holds immense value since it is directly connected to the popular BASIC NFT collection brand and the success of the BAYC NFTs also directly accelerates the crypto’s growth process.
Dogecoin is one of the biggest competitors of Shiba Inu. Despite the recent market collapse, Elon Musk continues to support crypto. Even though Musk has emerged as one of the major reasons behind DOGE’s rapid growth, his involvement in the development of the crypto makes a huge difference in the prominence of the token in the crypto market.
Avalanche is 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.
Stellar is an open network that allows money to be moved and stored. One of the primary goals of Stellar is to boost financial inclusion by reaching the world’s unbanked individuals. It also prioritizes shifting to financial firms and connecting through blockchain technology.
Axie Infinity is a blockchain-based trading and battling game. In this game, players buy monsters and other characters and have them fight one another to win tokens, which can then be turned back into real money.
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.
Crypto experts believe that Nano will definitely outrun Shiba Inu in the long run. The purpose of Nano’s blockchain network is to speed up payment settlement times, drastically reduce costs, and democratize the process to allow everyone to participate. Besides this, its network is highly scalable and efficient, facilitating ease in processing transactions.
Cardano might be quite similar to Shiba Inu when it comes to slow development, but it can turn out to be a worthwhile cryptocurrency for investors who are looking for a less volatile long-term investment asset. The ADA development team has secured successful partnerships that demonstrate the different uses the crypto has to offer.
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.