These 2 Cryptos Could Beat It This Summer

These two cryptos may outperform DOGE.

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Key points

• After DOGE’s spike, it has now declined almost 90% from its all-time highs.
• STEPN is an altcoin and fitness app that pays users in crypto for walking, jogging, or running.
• SOL is a third-generation blockchain that is considered the fastest blockchain in the world. 

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Dogecoin was originally started as a joke in 2013. It was meant to make fun of Bitcoin and was named after the Shiba Inu dog internet meme. The dog had poor spelling habits, which is why it is “doge” instead of “dog.” Fast forward to several years later and it is one of the top cryptocurrencies in the world. 

After Elon Musk’s tweets on the crypto, DOGE exploded in popularity and at its height was up 12,000%. Riding on Musk’s appearance on Saturday Night Live and countless internet memes pushing DOGE, many were hoping the crypto would reach $1. However, since reaching its height at $0.69, it has now dropped to $0.09. Given that Dogecoin was never meant to be a payment system or a store of value, for investors looking for altcoins, here are three that have the potential to grow this summer. 

1. STEPN (GMT)

STEPN (GMT) pays you in crypto for walking, jogging, or running outdoors. After you download the app, you need to get activated and then purchase an NFT sneaker in the STEPN marketplace. GMT is relatively new to the scene but is now a top 60 crypto in the world. 

While DOGE was created as a joke, STEPN’s creators call it a “Web 3 lifestyle app with social-fi and game-fi elements.” STEPN encourages its users to socialize with one another while living a healthier lifestyle by gamifying movement and fitness. STEPN is a “move-to-earn” lifestyle app where investors can earn crypto by exercising. 

This sets STEPN apart from other cryptocurrencies. Move-to-earn apps allow users to make passive income by simply working out. Users can monetize their daily exercise and earn tokens by walking, jogging, or running outside. At the end of April, STEPN was listed on Coinbase and Kraken, two large cryptocurrency exchanges. With a long waiting list, enticing promotions offered by STEPN, and the popularity of the “move-to-earn” model, STEPN has great long-term value.

2. Solana (SOL)

Solana is a third-generation blockchain and an open-source cryptocurrency project. Most popular blockchains use proof-of-work (PoW) or proof-of-stake (PoS) algorithms. Solana was the first to introduce a proof-of-history (PoH) algorithm. This allows the blockchain to operate quickly while staying secure and decentralized.

SOL is unique in that it uses a combination of proof-of-history (PoH) and proof-of-stake (PoS) algorithms. This allows the network to conduct up to 50,000 transactions per second in a secure manner. Its hybrid model allows the blockchain to process transactions faster than other platforms. According to Solana’s official website, the platform is “the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3 and more.” 

In addition to being fast, Solana is also cheap, average fees are less than $0.00025. SOL is also censorship-resistant, allowing the application to remain open and run freely. SOL was recently added to Robinhood and with its launch of Solana Pay, the crypto has become even more popular. Solana Pay is a “build your own online store” application on its blockchain. Users can create a storefront and accept low-fee, global payments directly into their wallets without the need for a bank or credit card. 

Since its launch, more than 600 merchants have signed up. One of the goals of Solana Pay is to replicate cash transactions digitally. With more in the community already incorporating Solana Pay into their payment flows, this has encouraged more investors to join the blockchain. 

In a recent tweet, Billy Markus, the co-creator of DOGE, disparaged the majority of the crypto industry and crypto’s supporters. Markus then reiterated that “doge was literally made as satire…” Putting your money in a crypto that was created as a joke may not be the best investment. These two other cryptos have the potential to grow this summer compared to DOGE.