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2021 will be forever remembered as the year of the memecoin. A year in which you could've made thousands of dollars on a cryptocurrency based on pictures of a Japanese dog. But will these trends survive into 2022? Or will crypto investors be looking for more stable coins, or trusting in developers who build in NFT marketplaces, play-to-earn games, or provide ways to gain passive income?
Today we compare the top memecoins and the top utility projects to see which cryptos will define 2022.
Bitcoin is the most famous cryptocurrency, enjoying around 40% of the total industry market cap in value. Bitcoin was the first and is still the biggest with rival Ethereum starting the year with 20% of the industry market cap. But with Bitcoin standing at a mere $38,000 a coin, is there any point in having the world's most famous crypto among your investments for 2022? Most analysts would answer yes.
Besides being a robust cryptocurrency, Bitcoin has real-world use these days and can be bought and sold easily at a low cost, and is recognised globally.
The Independent predicts Bitcoin to rally past $100,000 per coin in 2022, which would see well over 100% returns for those just joining or remaining faithful to the original cryptocurrency.
Probably the least known crypto on our list, EGC is one of the most exciting new crypto projects set to disrupt in 2022. With a current market cap of around $350 million, it's a small project but represents the top developers flocking to the cryptocurrency industry. While memcoins come and go, the crypto ticks all the boxes of a coin of fundamental utility and potential to create a new way of doing things.
For example, it's paid out over $33 million to its 100,000+ holders in just four months of operating without them doing anything. It does this by paying out a percentage of any Ever Grow EGC transaction to holders as a form of passive income.
A risky newcomer? Sure. But it looks worthy of a crypto investment in 2022 in case it becomes a serious contender.
Shiba Inu currently sits at a staggering $12 billion market cap, and anyone who began the year with the investment will be cashing in their good luck. Some analysts say a 43 million percent price increase in this memecoin in 2021. But is there still potential to make money from Shiba in 2022?
Popular price prediction website CryptoPredictions.com sees Shiba rising by a more modest 50% by the end of the year. This would still mean upsides for Shiba Inu investors over the next 12 months – but perhaps not enough to mint another 1000 Shiba millionaires.
When Elon Musk isn't blasting rockets into space, he's tweeting about a cryptocurrency named after a dog – Dogecoin. The coin began way back in 2013 and over the years has become famous for sending the Jamaican bobsled team to the Olympics and more recently as payment for Tesla merch. $1000 invested in Doge at the beginning of 2021 would've grown to an amazing $38,500 over the course of the year.
Despite this already meteoric growth, www.walletinvestor.com has an end of 2022 price prediction for Dogecoin of $0.4, which would net investors a further 130% in returns by December 2022.
Ethereum, is the world's second-biggest cryptocurrency by market cap, at $313 billion, under half that of Bitcoin at number one. Despite a major bug in summer 2021, investors in Ethereum would've still seen around 450% returns over the course of the year. Many top developers also build on its platform and provided some of the highest growing cryptocurrencies in 2021.
With the Ethereum 2.0 upgrade planned for 2022, and backing from celebrities like billionaire Mark Cuban, Ethereum could become a serious Bitcoin challenger.
WalletInvestor predicts Ethereum could more than double over the next 12 months, hitting $5300 by the end of the year.
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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.
