Written by Daniel Da Costa at The Motley Fool Canada
Shiba Inu (CRYPTO:SHIB) saw one of the biggest and fastest rallies of 2021. As a result, the meme coin has gained a tonne of popularity. And even though it sold off from its high, its rally was so incredible that SHIB continues to be the 13th most valuable cryptocurrency today. However, despite its popularity, there are several cryptocurrencies that are far better long-term investments, including Solana (CRYPTO:SOL).
Don’t get me wrong; the popularity and community Shiba Inu has are impressive. But as a long-term investment, despite this popularity and past performance, though, there are many reasons to avoid Shiba Inu. For one, it’s extremely speculative, as is evident when looking at its chart.
Furthermore, though, Shiba Inu offers little differentiation to tonnes of other coins. While you can stake it now, and there are places to spend it, far more tokens and coins offer much more long-term potential, all while being less speculative and volatile.
So, if you’ve been considering an investment in Shiba Inu, here is why Solana and these three other cryptocurrencies have much more upside in 2022 and beyond.
Here’s why Solana and these three cryptocurrencies shoud outperform Shiba Inu
Because Shiba Inu doesn’t offer much differentiation or exposure to any protocol that’s revolutionary, there are plenty of better cryptocurrencies out there.
For one, Ethereum (CRYPTO:ETH), the second most valuable cryptocurrency by market cap, is a better investment. Not only is Ethereum one of the most popular blockchains, but 2022 should be a huge year as it upgrades to Ethereum 2.0.
Solana is another cryptocurrency that’s already seen a massive gain. That’s because it’s a blockchain network, much like Ethereum, that boasts some of the best technology and highest speeds.
As you can see, the trend so far is a lot of the most popular and most valuable cryptocurrencies. There is a reason that these coins are at the top. Any project that has the potential to grow in popularity should be worth an investment.
So, if you’re an investor that’s hoping to find cryptocurrencies with a tonne of growth potential, here are two more with less value than Solana or Ethereum that could still grow significantly in value and outpace Shiba Inu this year.
Two undervalued cryptocurrencies to buy for 2022
Fantom (CRYPTO:FTM) is another high-potential blockchain, and one that’s compatible with Ethereum. This gives it a tonne of advantages and potential to grow, as the industry expands over the long run. Plus, right now, Fantom is considerably cheap, which is why it’s one of my top recommendations for 2022.
In addition, SushiSwap (CRYPTO:SUSHI) is another top project that you may want to gain exposure to and which should almost certainly outpace Shiba Inu this year. SushiSwap is a decentralized exchange that acts as an automated market maker. So, investors can deposit their crypto on SushiSwap and earn passive income in return, which is why it’s such an excellent investment.
So whether you want to invest in the top cryptocurrencies such as Solana, or an up-and-coming cryptocurrency like Fantom, as long as you find assets that have real potential and can differentiate themselves from their competition, then it’s an investment you can have confidence buying for the long haul.
The post Why Solana and These 3 Other Cryptocurrencies Have More Upside Than Shiba Inu in 2022 appeared first on The Motley Fool Canada.
Should you invest $1,000 in Lightspeed POS right now?
Before you consider Lightspeed POS, you may want to hear this.
Motley Fool Canadian Chief Investment Advisor, Iain Butler, and his Stock Advisor Canada team just revealed what they believe are the 10 best stocks for investors to buy right now… and Lightspeed POS wasn’t one of them.
The online investing service they’ve run since 2013, Motley Fool Stock Advisor Canada, has beaten the stock market by over 3X. And right now, they think there are 10 stocks that are better buys.
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Fool contributor Daniel Da Costa owns Ethereum, Fantom, and SushiSwap. The Motley Fool owns and recommends Ethereum and SushiSwap.
2022
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