There is no question that Shiba Inu has been one of the biggest winners of 2021. But there are various other emerging altcoins and meme currencies worth looking out for and buying.
The field of cryptocurrencies is expanding, and the next great digital token may be released tomorrow. While the crypto community sees SHIB as the leading meme cryptocurrency, analysts adopt many approaches to evaluate coins other than SHIB. It is common, for instance, for analysts to attribute a great deal of importance to ranking coins relative to one another in terms of market capitalization. However, there are other reasons why a digital token may surge to new heights.
Here are 5 cryptocurrencies that can crush Shiba Inu in 2023.
1. Floki Inu (FLOKI)
Investing in FLOKI now could help you make massive profits in 2023.
Named after Elon Musk’s pet dog Floki, Floki Inu is one of the many memecoins entrants that emerged in the crypto market this year. Unfortunately, a ‘rug pull’ scare plagued the project early on after the original developer went rogue and exited with hundreds of thousands of dollars by draining a liquidity pool.
But community admins kept the token going and invested their own funds to ensure the token sustenance. Early investors then announced a V2 version. They relaunched the project with security mechanisms to prevent rug pulls in place.
Since then, the project has grown to a market capitalization of over $1 billion. Floki Inu is also working on contributions outside of the crypto market. Recent tweets by developers claimed the project would build schools in Guatemala, Nigeria, and Laos in partnership with local government authorities and NGOs.
Floki Inu tokens are locked up on the Floki pool on Inverse Finance, which relies on smart contracts (instead of centralized middlemen) to offer financial services to crypto users, such as lending, borrowing, and trading.
Inverse Finance allows users to get token loans by supplying tokens to the protocol as collateral. The newly-launched Floki pool has a collateral factor of 50%, which means users can take 50% of the value of their staked Floki Inu tokens in the form of DOLA, a stablecoin issued by Inverse Finance.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Mochi Inu (MOCHI)
Jump on the Mochi bandwagon now to enjoy early investor advantages.
Mochi Inu (MOCHI) is a recent entry into the meme coin ecosystem. It differentiates itself by successfully combining both memecoins and decentralized finance (DeFi), two of the most popular crypto subsectors, into a single coherent ecosystem. In addition, Mochi says it will soon enable community members to earn staking rewards and accumulate MOCHI tokens at a discounted rate from a bond marketplace.
Memecoins, which are primarily community-driven, have gained significant traction during the past two years. DeFi has also emerged as a trailblazing sector in cryptocurrency, with a current total value locked of over $260 billion, according to DefiLlama.
Mochi Inu founder Azeem Ahmed says that "the protocol is designed to help ordinary people participate in crypto and overcome many of the obstacles they face in traditional markets. Unlike meme stocks, which often seem suppressed, the Mochi DeFi–memecoin ecosystem has free markets where every user has equal access. Also, unlike other memecoins, Mochi is backed by a DeFi protocol that can include staking, bond markets, and stablecoins.”
The MOCHI coin is run and governed by code built on decentralized infrastructure that enables truly free markets for users. Unlike most cryptocurrencies, where purchases are made at market prices, MOCHI bond markets may let users hedge against volatility by buying MOCHI token bonds at discounted rates, which can be automatically staked to start earning rewards. And unlike many complicated decentralized applications that can be difficult to navigate, Mochi Inu has a simple, easy-to-use interface.
Mochi Inu was developed to bridge the gap between memecoins and DeFi, providing users with a cute “doggy” meme coin and access to a DeFi ecosystem.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. Akita Inu (AKITA)
Buying AKITA tokens could help you diversify your portfolio with a growth coin.
Inspired by Dogecoin, Akita Inu (AKITA) was launched in early 2021. It is a decentralized meme currency built on the Ethereum network using the ERC-20 protocol. It has recently set the crypto world abuzz with its lightning-fast development in association with the Polarfox community.
A couple of months into its launch, Akita Inu was added on numerous exchanges, from MXC and HotBot to Poloniex. The token is part of the AKITA community, backed by the AKITA network. The network and its various affiliations, such as social media platforms and webspace, are fully funded by the AKITA.
AKITA prides itself on being a decentralized, community-driven experiment with no founders or team tokens. Instead, the community aims to move forward through collective agreement over decisions regarding its future.
Within three months of the token launch, over 15,000 new investors held it, and another 20,000 joined the AKITA Telegram channel. So if you want to invest in a coin based on momentum, Akita Inu is a solid option. Because it is relatively newer, it has built up momentum and shows good growth potential.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. Dogecoin (DOGE)
Invest in the “OG memecoin” DOGE, as it could surpass SHIBA soon.
Though it was born as a joke coin, Dogecoin now enjoys several potentially bullish factors, making it difficult to dismiss it as an asset. Dogecoin’s low energy costs, a potential for a shared security protocol with Bitcoin, and a measure of price stability are some reasons why it will remain the "OG meme coin."
Though not directly measurable, Dogecoin also may benefit from the considerable goodwill of its two million-strong retail investor fan base.
Notably, Dogecoin differs from Bitcoin’s proof-of-work protocol in several ways, including the Scrypt technology. In addition, the altcoin boasts a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined.
Mining Doge is also simple. Users can mine Dogecoin either solo or by joining a mining pool. A Doge miner can mine the digital currency on Windows, Mac, or Linux with a GPU. As of 2014, you can also mine Litecoin in the same process of mining Dogecoin, as the processes were merged.
Multiple factors make DOGE a good investment, especially at the current price. With recent endorsements from celebrities (such as Tesla CEO Elon Musk and rapper Snoop Dogg), it has transformed into a promising cryptocurrency from a token of little real-world importance. For this and many other reasons, Dogecoin could crush Shiba Inu in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
5. Dogelon Mars (ELON)
Buy ELON tokens now if you want to hold a meme coin picking up significant momentum.
Dogelon Mars (ELON) is a meme coin based on Dogecoin (DOGE) and Tesla CEO Elon Musk. The coin has seen enormous price swings in 2021, and many experts believe it has even more room for growth.
Dogelon Mars is a project built on the Ethereum blockchain using the ERC-20 token standard. This means it uses the Ethereum blockchain for security and can create its own unique features within the token. One of these features is its tokenomics.
The project has gifted 50% of the initial supply to Ethereum creator Vitalik Buterin. The other 50% was locked into the Uniswap liquidity pool. On April 22, 2021, the token was listed through an initial DEX offering (IDO).
The project hopes to create an “intergalactic currency," though the details remain unclear at the moment. Much of the 100,000% ELON price increase can be attributed to the community of investors. The project uses Twitter and Telegram to reach an audience of nearly 250,000 and encourage more investors to buy. The community is robust and offers tireless support for the token. For these reasons, ELON could overtake SHIB in 2023.
Check Out: Dogelon Mars (ELON) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bottom Line
2021 saw the emergence of Shiba Inu, causing early investors to become millionaires overnight. Therefore, several arguments can be made for these coins to experience similar success in 2023.
So go on and invest in these five cryptocurrencies that could crush Shiba Inu in 2023. However, remember that cryptocurrencies are volatile. Investors are advised to perform due research before investing in any digital asset.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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