SHIB earned investors millions this year with their minimal investment.Unfortunately, the meme token lacks competitive momentum to hold its place.These two cryptos might handily outshine SHIB next year.
After a more than 50,000,000% surge in 2021, SHIB will likely slow down to these cryptos in the coming year.
Indeed, cryptocurrencies have outshined other asset classes since COVID-19 hit the markets in 2020 March. The last 21 months have seen the crypto market value skyrocketing higher by over 1,500%, hovering at $2.32 trillion on 12 December.
You may admit that ETH and BTC played a role in the high gains. Keep in mind that these two cryptos account for 62% of the $2.32 trillion market capitalization. However, Shiba Inu takes it all when it comes to 2021 price performance.
SHIB Climbed to the Moon in 2021 but might Struggle Next Year
Coinmarketcap.com shows SHIB was available at $0.000000000073 per coin in 2021 January. The following eleven months had SHIB shedding six zeros while hovering at $0.000037. That translated to a YTD surge of 50,588,942%.
SHIB gains resulted from various factors, including FOMO, coin burn, exchange listing, and excitement on future developments like NFT-based gaming and the Layer2 project Shibarium. Unfortunately, Shiba Inu’s social media hype does not match its real-world picture. Shiba Inu has no utility.
Moreover, the meme coin lacks differentiation or competitive advantages. Meanwhile, digital currencies with life-changing gains within a short period have proven unreliable. Some crash massively with time, losing over 90% of their prices.
Asset That Will Outshine SHIB in 2022
Axie Infinity (AXS)
Axie Infinity (AXS) is a play2earn game where users collect, breed, raise and battle creatures referred to as Axies. Meanwhile, each Axie is a non-fungible token, allowing gamers to monetize their activities. Moreover, Axie Infinity had real-world dollar data backing it. SHIB can hardly compete with this project in the coming year.
Avalanche is another altcoin with a chance to crush SHIB’s next year’s returns. Market players know this blockchain with its high speed, processing 4,500 transactions every second. Avalanche has a more impressive transactional finality than the leading cryptos, ETH and BTC. Also, Avalanche is compatible with popular ETH networks. AVAX might put SHIB in the mud in 2022 with its appealing real-world utility.