2020 and 2021 have been a full roller coaster year for the digital currency space, but this situation opened immense avenues for Shiba Inu. The SHIB crypto has been in the limelight for various reasons, but presently, its market is not so good. There have been several Shiba Inu competitors who have now made their positions above SHIB.
Despite that, the Shiba Inu coin is still among the most famous investment choices for novice investors entering the market. Shiba Inu has been operating quite hard to prove its worth to investors and critics who think that a meme coin might not be the ideal option for long-term investments. Nevertheless, this crypto is among the top meme coins in the crypto space, posing a direct threat to the dominance of the Musk-favored Dogecoin. With that let us have a look at some of the Shiba Inu news.
Top 10 Shiba Inu Competitors In The Market
But SHIB has been encountering some decline over the last few months since the crypto space meltdown. This resulted in the shifting investor sentiments towards the Shiba Inu competitors that offer much more relevant market options. Investors who wish to dodge losses by Shiba Inu can opt for the other relevant choices. At the time of writing this, the Shiba Inu price is $0.00002432. And as per the latest Shiba Inu price prediction, it could reach $0.0000423 by the end of this year. In this article, we have listed the top 10 Shiba Inu competitors that you choose this year.
Bitcoin might be one of the most famous alternatives to Shiba Inu. BTC provides real-life applications, whereas SHIB has failed to portray any such usability. BTC is a P2P (peer-to-peer) online currency, implying that all transactions directly occur between independent network participants, without the requirement for any intermediary to facilitate or permit them.
Ethereum is a decentralized open-source blockchain mechanism that showcases its own digital currency, Ether. ETH operates as a platform for several other digital currencies, as well as for the implementation of decentralized smart contracts. The purported aim of Ethereum is to become a global platform for decentralized apps, enabling users from across the globe to write and operate software that is resistant to downtime, censorship, and fraud.
Solana is a highly operational open source project that banks on the permissionless nature of the blockchain technology to offer DeFi (decentralized finance) solutions. Because of the innovative hybrid consensus structure, this Shiba Inu competitor enjoys interest from small-time traders and also institutional traders alike. A prominent aim for the Solana Foundation is to make decentralized finance available on a larger scale.
The list of top 10 Shiba Inu competitors would fall short if we do not talk about Polkadot. Polkadot is an open-source sharded multichain protocol that links and secures a network of authentic blockchains, enabling the cross-chain transfer of any asset or data types, not just tokens, thereby enabling blockchains to be interoperable with each other.
Avalanche, along with Solana, is another instance of a crypto that portrays a clear aim, as opposed to meme coins such as Shiba Inu. Avalanche is among the many ventures that are seeking varied ways to beat Ether. Its network can process transactions much quicker in comparison to any other digital currency. Along with that, Avalanche has showcased many more real-world use scenarios than Shiba Inu.
Decentraland claims itself to be a virtual reality (VR) platform powered by the Ethereum blockchain that enables users to formulate, experience, and monetize applications and content. In this digital space, users buy plots of land that they can navigate upon, construct, and monetize. MANA is an ERC-20 token that must be burned to attain non-fungible ERC-721 LAND tokens.
7. Axie Infinity
Axie Infinity is a blockchain-based battling and trading game that is partially owned and run by its players. Axie Infinity enables players to breed, raise battles, collect, and trade token-based creatures called Axies. The Axie Infinity space also has its own unique governance token, called the Axie Infinity Shards (AXS).
Crypto experts think that Nano will definitely outrun Shiba Inu in the future. The aim of Nano’s blockchain mechanism is to speed up payment settlement spans, drastically decrease costs, and democratize the process to enable everyone to participate. Along with this, its network is highly efficient and scalable, facilitating ease in processing the transactions.
XRP is the native digital currency of Ripple, a crypto payment system that is formed by Ripple Labs Inc. It is created to enable global payment methods and act as a competitor against traditional transaction methods that are provided by centralized financial institutions such as banks.
The last but not the least name in our list of top 10 Shiba Inu competitors is Fetch.ai. Fetch.ai is an AI (artificial intelligence) lab creating an open, decentralized, permissionless, machine learning network with a crypto economy. The crypto democratizes the access to AI technology with a permissionless network upon which anyone can link and access secure datasets by using autonomous AI to implement tasks that take advantage of its global network of data.
The historic run of Shiba Inu has amazed everyone in the crypto space. An increasing number of digital currency exchanges have already listed this crypto for trading, which is growing awareness and constructing the community. The release of decentralized exchange ShibSwap in July last year is even enabling investors to stake their tokens and more crucially encouraging them to hold this crypto for a long time. But Shiba Inu also has its drawbacks and because of this realization, there are several routes challenging the dominance of Shiba Inu. Because of this reason, there came up several Shiba Inu competitors that investors are choosing now.