Elon Musk has been in the headlines for quite some time, from shirtless images going viral on social media and SpaceX’s race to the moon to a never-ending multi-billion-dollar Twitter deal.
But Elon Musk is best known for his unwavering support for Dogecoin.
The endorsement of Tesla CEO Elon Musk, who referred to himself as the “Dogefather” in a tweet alone, led to a 20% spike in the value of Dogecoin. The cryptocurrency is also used to support Musk’s SpaceX moon expedition.
Dogecoin was created back in the year 2013 as a spoof of the counterfeit digital currencies circulating at the time. Its name and logo are based on a Shiba Inu meme that became viral a few years ago.
In contrast to Bitcoins, which have a theoretical maximum of 21 million (likely to be reached by 2040), Dogecoin numbers have no upper limit.
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The Boom in Cryptocurrencies
In under ten years, cryptocurrencies have become the most profitable investment category. And when their whole market worth soared above $2 Trillion, and Shiba Inu helped investors raise their capital 50000X, it enabled many early adopters to climb the social ladder.
Everyone wants to mimic their trades’ countless crypto trading success stories now that they’ve seen them. They are on the lookout for the next cryptocurrency to become viral in 2022.
You’re here because you’re seeking the most promising cryptocurrency to buy right now. Here’s the list to choose the currency from that is most likely to blow amid a sea of 19000+ cryptocurrencies.
3 Cryptos Most Likely to Blow Up
1. Ethereum (ETH)
Ethereum, popularly known as ether, is the second-largest cryptocurrency globally, trailing only Bitcoin but occasionally exceeding it. Last year, Ethereum released a major upgrade that reduced the amount of ether, which is presently at 121.37 million coins as of July 1.
Additionally, the upgrade allows the Ethereum network to handle more transactions per second, improve platform scalability, and lower transaction costs.
Compared to Bitcoin, Ethereum lacks scarcity (the quantity of Bitcoin is limited to 21 million coins) and widespread support by businesses and governments. However, Ethereum is more than just a storehouse of money than Bitcoin.
It also serves as a framework over which applications may be built. Ethereum serves as the foundation for decentralized finance and is used to issue new currency.
The Ethereum blockchain is used by several metaverse projects, including Axie Infinity, and The Sandbox, as well as by most NFTs.
Another update, expected for August, would move Ethereum to a Web3-ready proof-of-stake mechanism, which, according to Consensys.net, will lower energy usage by 99.5 percent while also increasing security and scalability.
Ethereum is now in a massive downturn, having lost more than 70% of its value since the beginning of the year, comparable to other prominent cryptocurrencies.
According to some observers, the low price represents an excellent purchasing opportunity for investors waiting for the proper time to dip their toes into the cryptocurrency waters.
Existing investors who acquired at a high price and would benefit from dollar-cost averaging may also be drawn to the currency.
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2. ApeCoin (APE)
To its tremendous popularity, ApeCoin joins the list of the next cryptocurrencies to erupt in 2022.
It also enters the list because of its excellent historical price performance and the degree of development occurring in the ApeCoin ecosystem. It has already generated an ROI of more than 500 percent in only three months.
ApeCoin also has one of the most active following communities. These include A-list celebrities as well as the most prominent crypto influencers.
Its crypto goods have always been oversubscribed, from cryptocurrencies to NFTs and even the recently introduced virtual territories. All of this has resulted in an increase in the price of APE tokens.
In the foreseeable future, a resurgent crypto market and the APE community are predicted to spark a price explosion for the currency.
In the long run, the introduction of new goods, such as a rebounding crypto market, and network developments, such as the projected ApeCoin main net, will drive future value growth.
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3. Binance Coin (BNB)
Binance coins are utility tokens for the Binance chain network linked with the Binance exchange.
It is one of the most well-known and functional blockchains. It has also had an excellent track record, with an ROI of more than 200,000 percent in the nearly five years it has been in operation.
It has already reached the list of the top ten crypto assets in 2022, and its popularity is boosted by its close affiliation with the Binance exchange, the world’s largest and most liquid exchange.
Three significant elements have convinced investors that the Binance Coin is about to explode.
First, Binance and the Binance Smart Chain continually expand BNB token use cases, ranging from transaction fees to staking on DeFi platforms. Second, Binance is continually expending Binance coins.
Finally, Binance coin is a robust cryptocurrency that swiftly reacts to market conditions, diving when it collapses and triggering a bull run when it rebounds. These reasons are projected to cause a price explosion for BNB tokens and a rise above $1000 by 2025.
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Final Words
It’s tempting to look for the next significant cryptocurrency, but it’s also quite hazardous. Smaller cryptocurrencies have a higher potential for development but are also more likely to fail.
To balance things out, consider investing in cryptocurrency stocks or large-cap cryptocurrencies. Choose one potential cryptocurrency and follow the buying advice to begin investing in the present downturn.
At last, we will also like to draw our readers’ attention to the Pre-sale of IBAT Token. It is the native token of Battle Infinity Gaming Metaverse.
The project looks promising as it offers many in-game assets, weapons and characters represented by NFTs. Players can trade their assets in the integrated marketplace and earn a good amount of money.
The most important part of any project is its core development team and the founders. Battle Infinity is developed by an Indian team, and going by the large strides India is making in the tech world, the project is hopeful to perform well.
We suggest doing your due diligence and research before investing in the project too. You can read more about it here.
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Source: https://insidebitcoins.com/news/next-crypto-to-blow-up-like-elon-musks-dogecoin