Why are experts moving from Dogecoin (DOGE) towards Cardano (ADA) and Everlodge? Dogecoin seems to be leaning mostly on Elon Musk, while Cardano is seeing an impressive growth rate. Also, a new platform that fractionalizes real estate is gaining popularity.
Dogecoin (DOGE) Gains Competition and Relies Too Much on Elon Musk
Dogecoin grew 1.43% today, while it lost 0.73% this week. However, this month’s growth has stayed over 14%, marking the year with a 24.72% growth. One could say the strength of Dogecoin is in cheaper and faster transactions compared to Bitcoin. However, many other coins are beating Dogecoin in this regard.
For instance, even Litecoin, the oldest of the old, is introducing LTC-20 to bring fungible tokens to the network. It beats Dogecoin in transactions as well. The popularity Dogecoin held was due to its wide base of users who made memes and, of course, Elon Musk.
With so many meme-coins around such as Shiba Inu, Pepe, Meme Moguls, etc. It’s questionable how much Dogecoin can grow. Dogecoin is mostly community-driven. There are calls to build on Dogecoin, but can the community innovate on its own? It’s certainly far from dead, and one tweet from Elon Musk would propel it upward. But can it rely so much on one man?
Cardano (ADA) Expected to Rise In 2024
Cardano fell 3.62% this week and gained 3.51% today. It marked the last 30 days with a 53.54% growth, while the year is 131.85% green. Experts seem to be preferring Cardano and Everlodge over Dogecoin. Some, like James Appleton, even claim that under prime conditions, Cardano could hit $32 in 2024. Currently standing at 60c, this would be an x53 surge.
With good weekly development, and over $407 million locked in Cardano, experts expect a big rise. Bitcoin ETF approval is most likely coming in January. This means increased crypto interest. With the Bitcoin halving in April and the approval of Bitcoin ETFs, there will be increased transaction volume. As miners earn 3.25 instead of 6.5 BTC and more people use Bitcoin, its transaction fees will be more expensive and slower.
This is going to cause a spillover effect and cause Cardano to grow. Especially considering it has a big use case with its smart contract features. Moving averages show a strong buy on a 1-day, 1-week, and 1-month basis. Meanwhile, the oscillators are neutral except for the 1-month basis where they say buy.
Everlodge the AirBnB of Crypto Set to Surge 30x
Experts are doubting Dogecoin’s use case, and most expect Cardano could rise enormously under ideal conditions in 2024. But, they agree Everlodge is going to produce profits much sooner. Everlodge is fractionalizing real estate and putting it on the blockchain.
Real estate is minted in NFTs and sold fractionally, so users earn passive income with only a fraction of ownership. These fractions can then be used as collateral for lending. Perhaps a simple partnership with AAVE and Compound might happen.
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Moreover, users who stake their ELDG tokens will receive a fixed monthly interest for a passive income. Therefore, users will get an extra interest bonus when providing liquidity to developers on our property launchpad.
Regardless, as Everlodge dips its toes in the $280 trillion real estate market, only the sky’s the limit. Experts expect a 280% rise during the presale and a 30x surge at the launch date.
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Source: https://www.analyticsinsight.net/is-dogecoin-doge-dead-experts-prefer-cardano-ada-and-everlodge-eldg-for-2024/