It is no secret that Dogecoin has seen moments of unprecedented success in the past. Its popularity is not so surprising when you think of the rags-to-riches story behind the coin. What started as a joke coin, designed to poke fun at how people bought into cryptos they did not understand, grew to one of the top tokens by market cap. And, as popular culture stretched its tentacles into finance, Dogecoin personified the new trend.
Most importantly, support and tweets from the self-proclaimed Dogefather Elon Musk further boosted the adoption and success of Dogecoin. However, it is worth noting that, like most cryptocurrencies, DOGE has taken a hit recently in the face of global economic instability threats.
This has sparked a debate over the next crypto to blow up like Elon Musk’s Dogecoin.
3 Cryptos Most Likely To Blow Up
Cryptocurrencies have had a paradigm shift today and have disrupted the traditional financial system. However, volatility makes investing in cryptocurrency a bit risky, so it is necessary to understand what you are getting into before buying it. Most cryptocurrency experts plan for the long-term rather than the short-term profits.
Keeping this in mind, let us look at the list of the next crypto to blow up like Elon Musk's Dogecoin.
Ethereum (ETH)
Ethereum is a decentralized open-source blockchain that gives decentralized applications and financial services the freedom to conduct operations smoothly by leveraging innovative contract technology. The vision initially was to build “a platform for the deployment and execution of smart contracts,” which enabled a decentralized value-settlement and computational layer.
Ethereum was created to combat some of the shortcomings of Bitcoin. While Bitcoin is good for yielding wealth, its inadequacy stems from its complex functionality. You can execute some other essential functions, as well as send and receive, but smart contracts are not supported.
Ethereum was built and established to be a complete crypto ecosystem, offering a blockchain that hosts all kinds of currencies and platforms. On its website, it defines itself as “a technology that’s home to global payments and applications” that functions as a digital economy.
Despite the current negative market conditions, ETH may yet present investors with a unique opportunity, especially considering its current price. In the coming months, The Merge will upgrade Ethereum’s old Proof-of-Work system (slower and environmentally hazardous) to a faster, cleaner one called Proof-of-Stake. This makes now a good time to invest in ETH.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Apecoin (APE)
ApeCoin (APE) is a brand new cryptocurrency formed out of the NFT community of the Bored Ape Yacht Club. It has lived up to the expectations following a lengthy build-up over the last few weeks. After just one day in existence, the token rose by 104%, making it one of the largest Metaverse/NFT cryptos in terms of market cap.
APE, which is the utility token for the ecosystem, focuses on strengthening the BAYC community. Normally, a utility token enables users to perform actions or initiatives on a certain network. Effectively, APE gives its participants a currency that can be used without centralized intermediaries.
APE is an ERC-20 token, a particular type of custom-made cryptocurrency on the Ethereum blockchain. It has also been listed on global exchanges, namely Binance and OKX.
The ApeCoin project has shown how developers continue to move towards decentralization even after achieving initial success. Furthermore, given BAYC’s popularity and high demand from price-insensitive investors such as athletes and celebrities, it is reasonable to assume that demand for APE will grow among investors if the BAYC ecosystem continues to thrive. For various such reasons, APE is one of the next cryptos to blow up, like Elon Musk's Dogecoin.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
Binance is one of the largest crypto exchanges, and its native token is BNB. It offers its users a range of different utilities, including staking, farming, and a fully-fledged NFT marketplace.
The price of BNB rose by 1700% to $690 in 2021, cementing itself as the third biggest cryptocurrency in terms of market cap behind both Bitcoin (BTC) and Ethereum (ETH).
The project has many advantages over its competition, including a network that can process transactions considerably cheaper than its main rival, Ethereum (ETH). Alongside this, the BNB chain is much faster at facilitating these transactions, making it a more appealing network for dApp developers and NFT creators.
The main goal of BNB is to be a security token such as Ethereum and Bitcoin and to add value to the ecosystem by letting people use it as the native currency. The BNB-USD pair has become one of the strongest ones lately, making it an excellent way to invest your money when the dollar is going down. It is also a cheaper opportunity when in comparison to Ethereum and Bitcoin.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
In Conclusion
There is no question about it: Cryptocurrencies are here to stay. So the question becomes, where is the best place to invest your money in the market?
As you decide which cryptocurrency is the best investment for you, remember the nature of digital assets. Cryptocurrency is not a get-rich-quick scheme. Instead, you should consider it a long-term investment.
That said, ETH, APE, and BNB could be the next crypto to blow up like Elon Musk's Dogecoin, according to market experts.
Read More:
The 5 Best Ways To Buy Ethereum (ETH)
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