Shiba Inu (SHIB) and Dogecoin (DOGE) are meme coins that skyrocketed in value and popularity because of the interest shown by Elon Musk. Their respective memes also helped them retain investors’ attention. However, once the meme popularity subsided and Elon Musk got busy with his new Twitter project, Shiba Inu (SHIB) and Dogecoin (DOGE) plummeted. So, if you are invested in either of them, maybe it’s time to correct your portfolio with a stronger use case than being a billionaire’s favorite dog.
Dogecoin (DOGE)
Any news article you pick up about Dogecoin (DOGE) will revolve around how great of a meme Doge is and not any serious discussion about the utility of Dogecoin (DOGE). Dogecoin (DOGE) has also become too prone to what Elon Musk says or does. Dogecoin (DOGE) shot to fame because of Elon Musk’s tweet and lost value when Elon changed his stance. When Elon Musk hosted SNL and said that Dogecoin (DOGE) was a hustle, Dogecoin (DOGE) dropped 25% in value.
The fact that Dogecoin (DOGE) is only a transactional cryptocurrency does not help its case either. A use case would have allowed it to create more long-term value for its investors. The fact that the developers of Dogecoin (DOGE) have not shared any vision or way forward for the coin has kept investors at bay too. However, a lack of it has kept Dogecoin (DOGE) open to pure speculation. You cannot create any long-term value with such an asset.
Shiba Inu (SHIB)
The market for meme coins is already saturated. Unlike Dogecoin, Shiba Inu (SHIB) does not even have the first-mover advantage. Moreover, Shiba Inu (SHIB) is not independent. It is an ERC 20 coin, so it also contracts all the features of the underlying Ethereum blockchain. In fact, ERC-20 tokens like Binance and Tron have moved from Ethereum because of its low processing speed. Shiba Inu (SHIB) continues to stay on Ethereum with its inherent issues.
Shiba Inu (SHIB) does not offer any unique use case. Being merely a transactional coin means Shiba Inu (SHIB) is exposed to high competition. There is no reason for an investor to own Shiba Inu (SHIB) when new coins offer a higher potential to make a profit. The developers of Shiba Inu (SHIB) have planned to distance their project from being called a meme coin, but that rebranding will take a long time to impact its value.
Snowfall Protocol (SNW)
Snowfall Protocol (SNW) is an interoperability project that helps users hold crypto assets in various blockchains and move them seamlessly without hassles. Snowfall Protocol (SNW) also offers its users staking and yielding opportunities. The crypto recently launched a prototype of its dApp to give its users an idea of the utility of its blockchain.
After a successful presale,Snowfall Protocol (SNW) had an even more riveting stage 2 sale. When Stage 3 sale began, the price of Snowfall Protocol (SNW) had already shot up by 250%. Even after its launch on January 3, 2023, experts predict that the price of Snowfall Protocol (SNW) will shoot up by 1,000%. In the longer term,Snowfall Protocol (SNW) is said to grow by as much as 5,000%.
Presale: https://presale.snowfallprotocol.io
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Twitter: https://twitter.com/snowfallcoin
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