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This Cryptocurrency Could Crush Shiba Inu In No Time

By Dr.Dang March 22, 2022, 7:11 p.m.
This Cryptocurrency Could Crush Shiba Inu In No Time

In recent years, this cryptocurrency economy has exploded to create significant wealth in the process like in the case of CoinmarketCap.com.  CoinMarketCap.com now lists over 9,200 different cryptocurrencies, which are collectively worth $1.75 trillion.

This Cryptocurrency Could Crush Shiba Inu In No Time

Despite the many options, CoinMarketCap.com can be a tough puzzle to solve to identify worthwhile investments, specifically with meme tokens taking the lead of headlines.

Last year Shiba Inu rose to prominence, generating returns of roughly 42,000,000%,  and currently that the meme token is down 75% from its high, many potential investors are hopeful for an encore performance . Some investors even call for the price to hit $1 in the future.

As popular as Shiba Inu has grown to be, popularity is never a good long term investment thesis, at least not without something more substantial to back it up. Unfortunately, it's impossible for it to hit the $1 threshold as that would translate to a market value of $550 trillion, that would be worth several times more than the combined output of every economy in the world.

More importantly, Shiba Inu’s sharp sell-off does not imply an equally impressive rebound. What matters now is what type of returns the tokens can generate in the future. To note, several cryptocurrencies look like much better investments than Shiba Inu. Terra can be mentioned as an example, because it is powered by two different tokens
It is programmable blockchain powered by two different tokens, first, the TerraUSD which is a stable coin that tracks the U.S dollar and can also be tied to other currencies. Second is LUNA, a cryptocurrency that absorbs volatility to keep each stablecoin at its target price.

Risaing demand

For instance, if rising demand pushes TerraUSD above $1, the network will incentivize token holders to convert LUNA to TerraUSD, increasing supply and reducing its price. The system works the same in reverse.
DeFi products like Anchor and PaywithTerrac create demand for Terra stablecoins, which translates into demand for LUNA, as the network incentivizes token holders to convert LUNA to Terra to maintain stablecoin prizes.

The demand should drive LUNA’s price higher as mentioned by the developer team puts it; The more Terra is used, the more LUNA is worth.  This explains why this cryptocurrency seems like a much better investment than Shiba Inu.

Shiba Inu is powered by a smart contract on the Ethereum blockchain as it does not have one of its own. Meaning it cannot support its own ecosystem of smart contracts and decentralised applications (dApps). That limits its long term utility and very few businesses accepts it as a form of payment.

Shiba Inu’s future is uncertain at best as the project cannot support its own decentralised ecosystem, and the token itself does not offer any extraordinary utility. Thats why i think there are better ways to invest in the crypto economy.

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