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Investors who bought Shiba Inu and Dogecoin when everyone else was laughing are the only ones who are laughing now.
If you'd bought just $100 of Shiba Inu at the beginning of 2021, you'd have become a millionaire by November. In the case of Dogecoin, if you'd bought just $200 at the right time in 2016 you would've become a millionaire by early last year.
It's not the norm to make enough money from crypto that you retire within the year – but it's not impossible either.
In this article we'll look at how far Shiba Inu and Dogecoin could take you this year as well as the crypto newcomer most likely to explode in price this 2022 – EverGrow.
If cryptocurrencies were often called 'magic Internet money', Dogecoin is probably the most worthy candidate for that title.
Dogecoin launched in late 2013 to parody the explosion of more serious cryptocurrencies following the success of Bitcoin. To the surprise of even the Dogecoin founders, DOGE has a firmly established place in the crypto top 10 today.
Dogecoin is one of the most popular cryptocurrencies on the market.
Just look at Reddit – the sub-Reddit /dogecoin has 2.3 million followers, compared with the 1.3 million followers for /ethereum, the 700k /cardano followers and the 149k /solana followers.
Only Bitcoin has more followers on Reddit than Dogecoin. However, Dogecoin regularly surpasses Bitcoin's popularity on Google Search.
Why is Dogecoin so popular?
While Bitcoin can seem far too complex for many crypto newcomers, there's a lot to like about buying up a token based on a well-known meme of an adorable dog. If Dogecoin's popularity has been built on little more than that so far there's ever chance it will continue in 2022.
It's common knowledge that Elon Musk helped to pump Dogecoin to the all-time high of $0.7376 in May last year.
That record DOGE price coincided with Musk's appearance on Saturday Night Live. Musk Tweets or comments supporting Dogecoin are regularly followed by pumps in the price of DOGE.
Elon Musk halted payments in Bitcoin for Tesla merchandise in favour of Dogecoin last year. This year he's made it possible to fill up a Tesla using DOGE and also revealed the Loop transit system in Las Vegas will accept Dogecoin.
Mark Cuban also allowed Dogecoin for merchandise and purchases concerning the Dallas Mavericks NBA team. Cuban quickly became the top Dogecoin merchant with more than 20,000 transactions carried out.
Influential backing is likely to continue in 2022, and lead to new peaks in the Dogecoin price.
Dogecoin gets a lot of flack for its uncapped inflation. Around 4% of the total DOGE supply enters the market each year from mining activities.
While this is arguably bad for ROI, it makes Dogecoin one of the most promising candidates to become a cryptocurrency with day-to-day uses.
Few people would be reckless enough to buy food and drink or fill up their cars with Bitcoin. Dogecoin however can maintain a more stable price even while the market cap rises, and hence is being pushed by players like Elon Musk to become the de facto decentralised cryptocurrency.
Increased adoption of Dogecoin would undoubtedly push up the price and help a Dogecoin investment today turn you into a millionaire.
EverGrow is the world's leading stablecoin reflection token.
The project has achieved this despite launching in September last year, and bringing a completely new dynamic to the crypto industry.
Most cryptocurrencies in the top 20 tokens by market cap are engineering-based projects with their own blockchain platforms. EverGrow is purely focused on the investment side of cryptocurrencies – which is arguably what most people buy cryptocurrencies for.
While it takes specialist knowledge to differentiate between blockchain platforms like Cardano and Solana, or Polkadot and Cosmos, EverGrow can be understood in three bullet points:
When you buy or sell EverGrow, you pay a 14% transaction tax
That transaction tax is split into 8% BUSD rewards, 3% for liquidity, 2% for buyback and burn and 1% for marketing
So long as you hold EverGrow in your digital wallet, you will receive your cut of the BUSD rewards (proportional to your position size) every single day
Since September last year, more than $37.5 million has been rewarded to investors.
The mathematics of ROI can also be fascinating for investors to work out. Take the top 1000 wallets on BSC Scan. The 50th largest EverGrow wallet holds 0.0152% of the total token supply – worth $23,400.
Let's assume that the wallet was holding since September last year when prices were roughly in the same range as in July 2022.
It means that wallet could have earned 0.0152% of the $37.5 million BUSD rewards – i.e. $5,700. That's a 24% yield on investment in under 12 months. If that wallet had bought right at the start when EverGrow was trading for $0.0000000747 they could also sell up for a 100% return on their initial investment in $EGC – i.e. doubling their initial investment on top of the BUSD rewards.
EverGrow is trading at very low prices in July with a market cap of just $60 million.
The token lacks the exposure of many other cryptocurrencies, but is tipped as one of the most likely to explode in 2022 and – with the right buy and the right time – is a promising cryptocurrency to make you a millionaire this year.
Shiba Inu experienced a growth of 48,000,000% throughout last year.
That kind of ROI is the El Dorado of crypto – and difficult to replicate once a cryptocurrency joins the top 20 tokens by market cap.
That's why in 2022, Shiba Inu is seeking to become more than just a meme-coin. It's expected that by September 2022 the layer-2 blockchain platform Shibarium will go live, as well as the Shiba Inu Collectible Card Game.
No meme-coin has pulled off such a feat before.
Not least because meme-coins are a relatively new phenomenon. But also because the Shiba Inu historic gains are still very recent history – the Shiba Inu all-time high came in just October last year.
The verified @shibtoken Twitter account which provides info from the main Shiba Inu development team announced in mid-July that EXO Viewer is helping Shiba Inu Games and PaySide Studios to develop the Shiba Inu Collectible Card Game.
Here are the main takeaways:
Shiba Inu already has cult status as the cryptocurrency which took 2021 by storm.
There's every chance that in 2022 it will make history again, and help you retire when prices recover from their current macro lows in July.
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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.
