by Analytics Insight
January 19, 2022
The entire cryptocurrency market more than doubled in volume in 2021. Currencies like Dogecoin and Shiba Inu have made huge impacts on the market. These cryptos have enormous potential for 2022; today we detail each project’s most exciting features and discuss where you should hold them in 2022.
Dogecoin
Dogecoin, popularly known as DOGE, was established based on the famous internet meme called ‘doge’. It is regarded as the first “meme coin” and, more importantly, the first “dog coin.” The open-source digital currency was developed by Billy Markus and Jackson Palmer, software engineers. The creators chose to establish a fun payment system, mimicking the cryptocurrency market speculations.
The current market cap of Doge is $24,174,825 with a circulating supply of 132.67B DOGE coins, with unlimited maximum token supply. Dogecoin is arguably the most hypothetical cryptocurrency that made headlines in the market. In 2021, the meme coin experienced a massive surge in its adoption. It became more popular and backed after Tesla CEO Elon Musk tweeted it, saying it is his favourite coin.
Dogecoin became widely backed and accepted as a means of settlement and went viral, mainly across Reddit and Twitter. Dogecoin was listed on exchanges, and you can buy the meme coin on top crypto exchanges such as Binance, Huobi Global, and Coin Tiger. You can also trade in Dogecoin on these exchanges. You can get rewarded DOGE for participating in a community that uses the crypto. The community of Dogecoin holders and backers is a fast-growing one.
Dogecoin is expected to continue to gain value as Tesla CEO Elon Musk recently announced they would be accepting the coin as payment for goods. This is already evident as the coin surged 20% after the announcement. DOGE coin is one to buy and hold for the year 2022.
Ever Grow (EGC)
Ever Grow is a freshly launched cryptocurrency on the Binance Blockchain. It has a unique reward system for its holders, and it is arguably the pioneer in generating income in BUSD for its holders. It was launched in September 2021, and it got over 24,000 holders within its first three weeks. It has rewarded its holders with over $33 million BUSD. It recently passed the mark of more than 130,000 holders.
EGC is built to become short in supply over time. For every transaction, 3% of it is used to buy back tokens from exchanges. It has a max supply of 1,000,000,000,000,000 and a current market cap over $400B USD.
Ever Grow(EGC) has a unique roadmap from that of other cryptos; the ecosystem utilities for its token include NFT marketplace, staking pools, NFT lending ecosystem, and Crator, a content subscription platform that allows content creators to sell exclusive content to their fans. EGC has also suggested that Crator will move into the Metaverse during 2022. These upcoming projects and its rare utilities have conceivably made this crypto one of the best coins to buy and hold In 2022.
Shiba Inu
Shiba Inu was created in August 2020 by an unknown individual or group named ‘Ryoshi’. SHIB was one of the top gainers in 2021. SHIB is an ERC-20 token based on the Ethereum blockchain, and the token is expected to continue to grow.
In October 2021, Shiba Inu was ranked as one of the biggest cryptocurrencies in the world, with a 24hr trading volume almost that of Ethereum. It started as a meme coin – the name Shiba Inu is a Chinese dog breed – it is the same as the Dog portrayed on the Dogecoin symbol. It experienced the highest increase in exchange price in October 2021, pumping over 240% in a week; even with the rise, it is still regarded as a good coin to buy. The meme coin made headlines after big investors like Tesla CEO Elon Musk and Vitalik Butterin tweeted the coin on their social media.
In these coming months, we will see businesses such as the AMC Entertainment theatre accepting SHIB as a means of payment. The implementation and further use by other businesses will boost the drive of the coin. You can also buy SHIB coins on top exchanges such as Binance, Huobi Global, Coinbase, Crpto.com, Gate.io, and OKEx. Further listings may lead to increased adoption.
Unlike DOGE, Shiba Inu is Ethereum compatible. This has allowed the developers to create apps like Shibaswap, a decentralized exchange that will enable users to trade tokens directly without a mediator. Its compatibility with the broad Ethereum ecosystem has made it compatible with Ethereum wallets like Metamask and ledger nano, and it is available on Decentralized exchanges (DEXs) like Uniswap. The Shiba developers plan to incorporate the Token in the NFT marketplaces and ETH-based DeFi applications.
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