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Dogecoin has long been a favourite for fundraising and community-oriented projects. More than $25,000 was raised to send the Jamaican Bobsleigh team to the 2014 winter Olympics, and over $30,000 was raised to aid freshwater supplies in rural Kenya. Again in 2022, Dogecoin donations played a role in the over $35 million sent to wallets held by the Ukrainian government.
Dogecoin was once the 8th-largest cryptocurrency by market cap. That ranking has fallen to its current ranking of 13, according to CoinMarketCap. DOGE's price has also been falling steadily from an all time high of $0.68 (reached in May 2021) to a price of $0.12 today.
Will Dogecoin make headlines again this year? With a loyal fanbase, there's every chance of making another news cycle. But therein lies the problem of meme-coins – without popularity, they're doomed to decline. Here are 9 other cryptocurrencies you could be investing in.
Current price: $0.0000004815
Current market cap: $300 million
EverGrow Coin is the smallest crypto by market cap on this list – though it's also the newest, launching in September last year. EverGrow Coin has nevertheless quickly grown to become the top rewards token on the BNB Chain, paying out over $35 million to coinholders in Binance USD reflections. EverGrow Coin has also announced it will rollout Crator this month – that is, the world's first social media platform that integrates both crypto and fiat payments for subscriptions, tips, and advertising. EverGrow Coin has a mission to become the top crypto token for passive income generation, financed by an ecosystem of applications.
Current price: $0.000023
Current market cap: $13 billion
Shiba Inu is a meme-coin like Dogecoin. They're even based on memes from the same breed of dog: the Shiba Inu hunting dog from Japan. Shiba Inu had an incredible run in 2021 posting gains of 45,000%. Shiba Inu has seen greater payment adoption in 2022, but its price and market cap has fallen steadily since the beginning of the year.
Current price: $38,500
Current market cap: $730 billion
Bitcoin's price has been hit hard in 2022 by fears of increasing government sanctions and the outbreak of war in eastern Europe. Bitcoin was touted by many analysts as the new 'digital gold' for hedging investments, but the current periods of high inflation have not yet seen the Bitcoin boost many predicted. Nevertheless, Bitcoin remains the biggest crypto by market cap and has seen gains as high as 10% in a 24-hour period in recent weeks.
Current price: $375
Current market cap: $62 billion
BNB is the native coin of the Binance ecosystem, which includes the world's biggest crypto exchange by volume. BNB also fuels the BNB Chain ecosystem of blockchains which offer much higher processing speeds and lower fees than platforms like Ethereum. BNB is currently the fourth biggest cryptocurrency by market cap, with over 1000 projects built on its blockchain networks.
Current price (DOT): $16.40
Current market cap: $16 billion
Polkadot offers a multichain protocol that aims to build up the Web3 Internet of blockchains. It rivals blockchain platforms like Ethereum and is also the most energy-efficient of blockchain networks using proof-of-stake (PoS) consensus mechanisms. Polkadot's has fallen steadily in 2022 but the project's accompanying Web3Foundation and high-profile founders make it well placed for future developments in the crypto space.
Current price (ADA): $0.815
Current market cap: $27 billion
Cardano is currently the 8th biggest crypto by market cap, according to CoinMarketCap. The project aims to bring about 'positive global change' through its blockchain technology allowing developers to build dApps with fast transaction speeds and low environmental impact. Cardano was named after 16th-century Italian polymath Gerolamo Cardano, while its ADA token is named after 19th-century mathematician Ada Lovelace.
Current price (SOL): $82.30
Current market cap: $26 billion
Solana has been in the news recently after NBA Hall of Famer Shaquille O'Neal switched his allegiance to SOL from Ethereum. Indeed, Solana has often been called the Ethereum killer due to its blockchain technology with the capability to process up to 50,000 transactions per second. This is a lot higher than Bitcoin's 10 transactions per second, and Ethereum's max 15 transactions per second.
Current price: $1.42
Current market cap: $11 billion
Polygon built its blockchain technology on top of Ethereum, to allow for quick and easy scalability. Polygon claims to be able to process up to 65,000 transactions per second, making it an Ethereum rival alongside Cardano, Solana, and BNB Chain. The MATIC token secures the system and enables governance.
Current price: $82.60
Current market cap: $30 billion
LUNA has been one of the best-performing crypto tokens in recent weeks – posting seven-day prices increases as high as 80% at the beginning of March. LUNA is still showing positive seven-day averages of 10% while other cryptocurrencies like Dogecoin are still posting losses. The native token of the Terra ecosystem regulates Terra's stablecoins while also allowing coinholders to submit and vote on governance proposals.
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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.
