2 cryptocurrencies to buy in the blink of an eye on Shiba Inu in April


IIf you think the stock market has made big gains since the pandemic lows of March 2020, take a closer look at the cryptocurrency space out. While the reference S&P500 achieved gains of just over 100% in two years, the global value of digital currencies grew by over $2 trillion in the same period, which equates to a 1,430% increase!

As you can imagine, the Big Two, Bitcoin and Ethereum (CRYPTO:ETH), received a lot of credit for this nominal increase of more than 2 trillion dollars. But these are lesser known pieces like shiba inus (CRYPTO: SHIB) which have been buzzing in the cryptocurrency space for much of the past year.

Shiba Inu-inspired pieces skyrocketed in 2021. Image source: Getty Images.

Shiba Inu Could Quickly Go From “Hot” To “Not”

One of the easiest ways to grab attention is to provide truly historical feedback. Between the stroke of midnight on January 1, 2021 and Shiba Inu’s intraday high on October 27, SHIB tokens rose by over 121,000,000%. It’s not a typo. If someone invested $1 at midnight on January 1, 2021, they were a millionaire on October 27. Shiba Inu finally ended 2021 higher by around 46,000,000%.

These historic gains were a function of crypto market dynamics – i.e., far fewer opportunities to sell/bet against lesser-known digital currencies – increased visibility, social media buzz and the launch of the ShibaSwap decentralized exchange. The latter introduced staking and encouraged investors to hold onto their SHIB for a considerably longer period of time.

But all is not what it seems with Shiba Inu. Despite its large market cap of $14.5 billion, this trending digital currency is full of red flags.

For example, Shiba Inu is really nothing more than a payment coin. It is an ERC-20 token built on the Ethereum blockchain. Although Ethereum is a trusted network that has seen increased usage over the past five years, transaction costs on Ethereum are significantly higher than all other cryptocurrencies. Without any competitive advantage or differentiation, it will be nearly impossible for Shiba Inu to stand out in the long run.

To boot, SHIB isn’t even a particularly attractive payout coin. Besides its currently high transaction fees, only 652 global merchants accepted SHIB as a form of payment, as of April 1, according to online business directory Cryptwerk.

The final red flag is that life-changing payout coin payouts have historically encountered equally epic reversals following their peaks. The payout coins I’ve tracked that have generated short-term gains of 20,000% or more have virtually all pulled back 93%-99%+ in 26 months or less after their respective peaks. All of this bodes ill for one of the hottest digital currencies in the world.

Two diverging graphics leading to a digital rocket preparing to launch.

Image source: Getty Images.

Buy These Cryptocurrencies in a Snap on Shiba Inu in April

Instead of putting your money to work in what has become a meme coin without any competitive advantage, the next two cryptocurrencies that offer competitive advantages and differentiation would be much smarter buys.


Early Cryptocurrency Investors Can Buy With Confidence At A Glance On Shiba Inu In April Is Algorand (CRYPTO: ALGO). The ALGO protocol token is the 28th largest digital currency by market capitalization ($6.4 billion).

In a sea of ​​dead-end payment coins and blockchain projects, Algorand stands out for a variety of reasons. To start, the Algorand blockchain offers superior speed and scalability. The average time to block finality (i.e. transaction duration) is around 4.4 seconds, with the project’s website touting transactions per second (TPS) north of 1,100 at the end. from last year. To put these numbers into some context, Bitcoin and Ethereum take around 60 minutes and six minutes to reach block finality, and they can only manage seven and 14 TPS, respectively. It’s no wonder Algorand is shaping up to be the future of decentralized finance.

Algorand’s blockchain network also offers a level of security that most Proof-of-Stake (PoS) consensus networks can only aspire to. Algorand relies on pure proof of stake, or PPoS, consensus mechanism. With PPoS, users are randomly and secretly chosen to vote on proposals and propose blocks. With PoS, it is possible for small operators to potentially disrupt the network. With PPoS, this becomes nearly impossible, especially since ALGO holders are incentivized to see the project succeed.

Additionally, the Algorand developers have focused on interoperability. The idea here is that there are many individual blockchain-focused projects being developed around the world. While some of these blockchain networks may be compatible with each other, many will not. Algorand is focused on helping businesses fill these gaps so that blockchain-based financial solutions can become mainstream.

There are clear advantages and differentiation to what Algorand offers, making it a much more intriguing investment opportunity than Shiba Inu.

A digital map of the world partially filled with binary code and blockchain nodes.

Image source: Getty Images.


The second cryptocurrency to buy in a snap on Shiba Inu in April is avalanche (CRYPTO: AVAX). The AVAX protocol token ranks 10th among digital currencies by market cap ($28.3 billion), five places ahead of SHIB.

Not to sound like a broken record, but when there are over 18,000 cryptocurrencies (and growing), it’s imperative that projects offer well-defined competitive advantages and sustainable differentiation. Avalanche offers this through the speed and scalability of its network, as well as its compatibility.

If you thought Algorand’s average transaction finality of 4.4 seconds was fast, you’ll love Avalanche. Whether you’re sending money, files or data, the average time it takes to get from point A to point B is less than two seconds. Keep in mind that cross-border payments using existing financial infrastructure can take up to a full week to validate and settle.

Equally significant is the scaling potential of the Avalanche blockchain network. Developers have previously touted the networks ability to handle 4,500 TPS. To put this into perspective, the payment processor Visa can handle up to 24,000 TPS. However, that 4,500 TPS figure claimed by Avalanche is per subnet – and creation subnets are unlimited. In other words, there should be no scaling issues that negatively affect the Avalanche Network.

But the biggest buzz around Avalanche has to do with its smart-contract-based blockchain network. Smart contracts being the protocols that verify, facilitate and enforce the negotiation of a contract between two parties.

In particular, Avalanche aims to be a go-to destination for developers wishing to build decentralized applications (dApps). Although Ethereum is currently the most popular dApp creation destination, Avalanche has the Ethereum Virtual Machine (EVM) running on its blockchain. EVM is the software used by developers to create dApps on Ethereum. Since Avalanche may offer better scaling, faster execution, and lower transaction fees than Ethereum, it’s likely we’ll see Revenue from the dApp protocol increases significantly moving forward.

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Sean Williams has no position in the stocks mentioned. The Motley Fool owns and recommends Bitcoin, Ethereum and Visa. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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