Forget Shiba Inu Reaching $1! Back These 5 Cryptocurrencies

By Trading Education Team

Last Updated November 9th 2022

5 Min Read

Forget Shiba Inu Reaching $1! Back These 5 Cryptocurrencies - Our Picks

BTC - Invest in the king crypto today

AVAX - Invest in the future of crypto by buying AVAX

FET - Fast-going altcoin and a SHIB alternative

XLM - A must-have crypto in 2023

SOL - One of the hottest coins in the market today

Forget Shiba Inu Reaching $1! Back These 5 Cryptocurrencies

Over the last few years, meme coins like Shiba Inu (SHIB) have surged in popularity and taken center stage in the realm of cryptocurrencies. On October 27th 2021, Shiba Inu flipped Dogecoin’s market cap to become the alpha pup. However, since then, Dogecoin has reclaimed the spot as the most valuable meme coin. SHIB has been rising again recently, maybe headed towards $1.

However, experts suggest you forget Shiba Inu reaching $1 and back these 5 cryptocurrencies instead.

Bitcoin (BTC)

Bitcoin has been around for the longest of any cryptocurrency. It is easy to see why it is the leader, with a price and market cap much higher than any other crypto investment option. Many businesses already accept bitcoin as payment, making this cryptocurrency a smart investment. Visa, for example, transacts with bitcoin.

Larger banks have begun to incorporate Bitcoin transactions into their offerings as well. While Tesla accepted Bitcoin only briefly, it might again if mining it becomes more environmentally friendly. In a step toward that end, Blockstream and Block, formerly known as Square, are launching a bitcoin mine in Texas that will be fully powered by Tesla’s solar array and Megapack battery, per earlier reports.

Bitcoin is and will likely remain a market leader, making it one of the best crypto investments to invest now.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Avalanche (AVAX)

Avalanche is a relatively new “layer one” blockchain, a blockchain that improves the base protocol to make the system more scalable, as Binance described it.

It is a high-performance, customizable, and secure blockchain platform that builds and launches highly scalable, and decentralized applications and smart digital assets. It runs on consensus protocols that can support hundreds of millions of devices to perform high transactions per second.

Its utility token, AVAX, can be used as a unit of account for exchange and as security. Token holders can participate in the governance of the platform and earn rewards by staking for longer periods.

Through its integrated system, Avalanche provides security for the privacy of its users. For these reasons, experts believe AVAX to be one of the best cryptocurrency investments. AVAX began trading in 2020 in a 24-hour initial coin offering. Its price has fluctuated from a low of $9.34 to a high of $146.22 over the past year.

Some suggest you forget SHIB reaching $1 and invest in AVAX now, valued at $17.45 at the time of writing.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Fetch.ai (FET)

Fetch.ai develops tools and infrastructure to facilitate the development of a decentralized digital economy. The network is built on open-source technology that any user may use to join the network. Built on a distributed ledger, it enables safe worldwide data sharing, connectivity, and transactions.

The idea is a combination of artificial intelligence (AI) and blockchain technology. For FET holders, staking remains the most secure investment choice. When you store your money on the Fetch.ai blockchain, you may earn up to 10% per year. While FET performed admirably in 2021 and provided large profits for investors, it lost some of its gains in the earlier market crash. However, the utility crypto climbed the price charts by around 20% this week. At the time of writing, it is trading at $0.08.

With continuing advancements and enhancements to the FET environment, it may have a bright future in 2023 and beyond.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Stellar (XLM)

Stellar is a decentralized network on which users can create, send and trade several types of cryptocurrency. It was created in 2014 and launched in 2015 to bring financial systems together under one network.

Like other decentralized platforms and exchanges that use blockchain technology, Stellar is spread across multiple servers. This means that the activity carried out on this network is not monitored by a singular source.

Unlike its main competitor in the market, Ripple, Stellar focuses on the needs of the individual rather than large financial institutions. As a result, its native token XLM is easily accessible and can be found on the top cryptocurrency exchanges and brokerages worldwide.

Given Stellar's sheer level of expertise and its unique approach to the market, it is no surprise that XLM is one of the most popular cryptocurrencies in the world today. You can forget SHIB reaching $1 and invest in XLM instead as we expect this popularity to rise as more people enter the blockchain sector. XLM could hit $2 by 2025, per market predictions.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Solana (SOL)

The next project to consider from our list is Solana. Often described as an Ethereum Killer, Solana is home to a decentralized blockchain that permits the deployment of smart contract agreements. With that said, it performs significantly better than its Ethereum rival across most metrics.

This network attempts to rectify multiple pain points in the market. First, the network’s architecture was structured to be expandable and resilient to censorship. This trustless and distributed blockchain tackles both transaction settlement speed concerns and bandwidth via this design.

The crypto market faces various scalability issues, and early blockchains' reliance on the Proof-of-Work consensus mechanism has led to congestion issues. Solana avoids these issues by introducing systems that allow the network’s transaction throughput to scale proportionally to its bandwidth. For example, Bitcoin can handle seven transactions per second (TPS), and Ethereum can handle around twelve. According to developers, Solana is capable of 50,000 TPS. In this way, Solana improves upon many drawbacks of early blockchain networks.