As you know, the crypto market is highly volatile therefore, many crypto investors believe that putting their resources into affordable or cheap cryptocurrencies is more profitable than investing in cryptocurrencies like Bitcoin and Ethereum. This is why the popularity of cryptocurrencies like Shiba Inu is increasing. Shiba Inu is one of those cryptocurrencies that have dominated the global crypto market many times. But Shiba Inu also has its drawbacks, and due to this realization, there are several avenues challenging Shiba Inu's dominance. It offers virtually no utility outside of a cryptocurrency exchange — online business directory Cryptwerk shows only 91 merchants accept SHIB for payment — and according to Coinbase, has an average holding time of fewer than two weeks. This article features the top 10 Shiba Inu rivals with great growth potential in 2022.
Dogecoin is the first meme cryptocurrency that started as a joke that trended on the internet a long time back. After keeping a position of safety for some time since its commencement in 2013, Dogecoin showed potential in 2020 when it was acknowledged as a payment model among sports teams and entered the AMC theaters. It is one of the biggest Shiba Inu rivals with great growth potential in 2022.
Tether is a stablecoin that creates liquidity for exchange platforms, creates no-cost exit strategies for investors, and adds flexibility and stability to investors' portfolios. Additionally, Tether can be sent anywhere globally much more quickly and with lower fees compared to transactions of traditional banks and financial institutions.
USD Coin is also a stable coin pegged to the United States dollar and runs on the Ethereum, Stellar, Algorand, Solana, Tron, and Hedera Hashgraph system. USDC is a great option for traditional investors looking for a low-beta investment that can generate returns better than CDs. Its stability makes it a tough competition for Shiba Inu.
The present conditions of Cardano and Shiba Inu quite evidently portray that Cardano has a much brighter future than Shiba Inu. Even though Cardano's development has been delayed by the team, they are currently taking steps that will enhance the current functionalities of the ADA token.
Fetch.ai is a decentralized machine learning platform application like asset trading. Its applications can help the users of the crypto exchange, Uniswap, to automate their trading. The FET token is purely an Ethereum-based token that powers Fetch.ai. It is one of the Shiba Inu rivals with great growth potential in 2022.
XRP is the native cryptocurrency of Ripple, a cryptocurrency payment system that is created by Ripple Labs Inc. It is built to facilitate global payment methods and act as a rival against traditional transaction methods offered by centralized financial institutions like banks.
Decentraland is another of the best new crypto projects this year. Put simply, Decentraland is a virtual world hosted on the blockchain where users can create their own characters and buy in-game plots of land. All items within the game are structured as NFTs, meaning that in-game exploits can be monetized through the marketplace. It is one of the best Shiba Inu rivals with great growth potential in 2022.
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community, and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users higher scalability, interest rate accuracy, and interchain usage.
If you're looking for the best Shiba Inu rivals with great growth potential in 2022, then Stellar is worth considering. Stellar is a distributed payments network operated through Stellar Lumens (XLM), the network's native crypto. The network allows fast payments to be sent anywhere globally with low fees – regardless of the currency.
Whales and thousands of small crypto investors have been joining Bitgert over the past few weeks. At the time when Shiba was plunging, Bitgert (BRISE) has been performing extremely well, with the coin growing several folds. Hence, Bitgert is one of the best Shiba Inu rivals with great growth potential in 2022.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.