Is It Too Late to Buy Shiba Inu? These Tokens Could Be a Better Investment
New York, NY
|
May 25, 2023 03:37 AM Eastern Daylight Time
Shiba Inu quickly gained notoriety in 2021 following a meteoric run which saw its price climb 46,000,000%. As the next crypto bull market looms, investors want to know if history will repeat itself, or bullish new tokens like AiDoge and DeeLance could be a better investment.
Shiba Inu currently sits at $0.000008465, 90.44% down from its October 2021 all-time high of $0.00008845. Now, SHIB has a market cap of $4.9 billion, ranking it 15th by market cap across all cryptos.
The price and market cap are important considerations when forecasting SHIB’s potential since they can limit its upside potential.
For example, Shiba Inu is the second highest market cap meme coin following Dogecoin. Currently, DOGE’s market cap is double SHIB’s, which does not leave SHIB with much room for growth.
That said, excitement has been brewing recently around Shiba Inu’s upcoming layer two scaling solution, “Shibarium”. The scaling solution will provide the Ethereum network with some much-needed relief by processing transactions on the Shibarium chain rather than the main Ethereum network.
The Shabirium network will house a DEX, metaverse and many other apps which users can interact with quicker and cheaper than on the Ethereum main net.
However, several other Ethereum scaling solutions, such as Arbitrum, Optimism and Polygon, are already on the market. Each was designed specifically as a scaling solution and will prove tough competition for the Shibarium network.
That said, Shiba Inu has a much stronger community than the others. Shiba Inu has 1.3 million holders. In comparison, the Arbitrum coin has 568K, Optimism has 635K, and Polygon (MATIC) has 80K.
Until now, Shiba Inu’s value has been derived from hype and the power of its community. However, with the Shibarium network looming, the project’s devs aim to shift its value to becoming utility-driven.
Despite this, there are some barriers which could hold its price down. For example, many Shiba Inu holders may not be interested in interacting with other blockchain dApps. Moreover, it already has a high market cap, so there is little room for growth, even if the implementation is successful.
AiDoge Could be the Next Big Meme Coin After $13m Presale
While Shiba Inu’s future remains uncertain, one meme coin that is being backed to have long term potential is AiDoge. Currently operating the presale of its native $AI token, AiDoge has raised an incredible $13m so far.
Like Shiba Inu, AiDoge is a meme coin that aims to provide real utility. However, the difference is that AiDoge is implementing this utility from the ground up.
The issue with Shibarium is that many holders may be reluctant to shift to this new philosophy, preferring the original meme coin approach.
On the other hand, AiDoge is a meme generation platform which allows users to create memes using AI in seconds. Since the utility is built into the project, new investors will be accustomed to it; therefore, adoption could soar.
Another benefit to consider of AiDoge is that it has much more room for growth. AiDoge.com has recently surpassed the $13 million mark in its presale, which is set to end when it hits $14.9 million.
With 50% of AiDoge tokens available at presale, the market cap at launch will be $29.8 million. Therefore, AiDoge could complete a 30X and still have less than 20% of Shiba Inu’s market cap.
The project has proven immensely popular so far. Many have claimed it to be one of the best presales of the year, with its social media channels exploding in popularity. Recently, its Telegram surpassed an impressive 18K subscribers. You can also find AiDoge on all other platforms, including Twitter, TikTok and Discord.
DeeLance Utility Token Also Backed to Explode After Successful Presale
DeeLance is a new crypto recruitment and freelancing platform looking to rival the likes of Upwork, and has already raised $1 million.
The presale of its native $DLANCE token remains in its early stages, so investors still have time to purchase the coin at a considerable discount.
The current DeeLance price is $0.033, and by the time of its initial exchange offering (IEO), the price will rise to $0.057, equating to a 72% increase. The DeeLance price is set to rise in six days to $0.038, so this is the last opportunity for investors to get in at the lowest possible price.
Despite being a new token that’s currently on presale, DeeLance has already been spotted by several crypto YouTubers. In a recent video, Jacob Bury explained how DeeLance could explode following its IEO.
DeeLance is a recruitment and freelancing platform that will enable users to hire and find work while leveraging the benefits of blockchain.
According to the DeeLance whitepaper, the global gig economy will surpass $450 billion in 2023, with much of the online workforce being located in different parts of the world. This begs several concerns, ranging from fees on international payments to copyright and legality issues.
The DeeLance crypto aims to solve these issues through the power of blockchain. It will enable low-cost international payments, a decentralised dispute resolution service and much lower fees than legacy freelancing websites.
Since the uptick in “work from home” following Covid-19, the gig economy has been on the rise. Employers realise that employees can be more productive at home, and it vastly reduces overhead expenses. Therefore, the DeeLance token seems perfectly positioned to explode surge following its IEO.
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
Contact Details
Finance News
Alex Brown
